Application, Pros and Cons of Blockchain Networks

Blockchain is a peer-to-peer system accompanied by two main objects: it allows the individual, on one hand, to add his/her new transactional data to the background is stored collectively. On the other hand, avoid any kind of manipulation of the recorded transactional data. Blockchain has made a balance between the two aforementioned objects through the structure of merely appendant and non-manipulated data in which adding data is carried out in the form of new blocks through solving the Hash puzzle. Solving the Hash puzzle entails taking time. The cost of manipulating Blockchain history, emphasizing the necessity of solving the Hash puzzle to add new data, has been increased prohibitively. In the most general case, on one hand, the supply chain links are related to the raw material suppliers, and on the other hand to the customers. Prompting the customers’ demands is the main object of activities related to the supply chain, so that the desired product can be delivered to the customers with the highest quality and the minimum price, at a certain time. Therefore, the supply chain includes all activities related to the flow and exchange of goods and services, from the supplying of raw materials stage to the delivery of the final consumable product to the customers. Knowing about the advantages and application of these networks in management is an essential and vital issue, thus, this study investigated the application, merits and demerits through library and note-taking methods.