Reference:

A Blockchain-Based Smart Contract System for Digital Video Streaming Application

Author: Aditya Putri Pertiwi, Devi Puri, Yogie Ajie Pratama, Gunawan Wang, Sfenrianto

Volume 9, No.3, May - June 2020

International Journal of Advanced Trends in Computer Science and Engineering

Available Online at

http://www.warse.org/IJATCSE/static/pdf/file/ijatcse34932020.pdf

https://doi.org/10.30534/ijatcse/2020/34932020

Disclaimer: All the following contents are copy and paste from above Research paper for basic Blockchain stuffs

A. Blockchain

Blockchain is a concept where the data is not stored in a big storage system but distributed through device or system that use blockchain-based system.Blockchain defined as a series of time signed blocks and connected using cryptographic hashes. Block can contain transactions, the number of users, and generally available for every network’s users. Moreover, every block containing a hash from the previous block and data transaction, until creating a set of secured blockchain and can’t be changed, only added. This chain will keep increasing because every new block will be added at last. Blockchain is divided into 4 generations that are 1.0, 2.0, 3.0., dan X.0.10. Blockchain implementation in any telecommunication branch will be useful. Blockchain makes the steps to achieve a trust-less environment that shows how paperless transactions with Blockchain technology usage can ensure better security.

B. Smart Contract

Smart contract is an agreement in the form of electronic that is closely related to blockchain technology. Blockchain appears for the first time by an idea from a bunch of people that identified themselves as Satoshi Nakamoto, this idea arises because of customer’s trust issue on banking system through electronic money called Bitcoin. Smart contracts originated from a blockchain known as Ethereum, with the platform virtualization, can develop self-driven contracts with decentralized, semi-decentralized, or centralized control. Smart Contract can help various parties make contracts to reduce costs, increase efficiency and consistency. The recent technology development in Indonesia is Blockchain. In the Blockchain network, there is a Smart Contract. Smart Contract has many benefits such as can pass through the third party and create airtight agreements. One of the many industries that be able to use Smart Contract is the financial industry. Smart Contract capable of giving high-transparency and high-security. Research about Blockchain technology stated that Blockchain technology in a streaming content company is useful because the company will require safe and secure data storage and interoperability supply.

C. Ethereum

Ethereum is a peer-to-peer network of a virtual machine that can be used by every developer to run an application distribution (Dapps). This program can be anything, but this network is optimized to mechanically run when a certain condition is fulfilled such as a contract. Ethereum uses its own decentralized public blockchain to cryptographically store execute and protect these contracts. Every computer in their network downloads small virtual machines to be synchronized with Ethereum blockchain and always available to execute the contract. This distribution by computer network concept is easily giving security, reliability, and cloud power required to do the designed settings. Blockchain Ethereum can be publicly found. The definition of Ethereum is to make an alternative protocol to build a decentralization application. Ethereum performs this by creating what is basically a main abstract base layer: a blockchain with a Turing-complete built-in programming language enables anyone to write Smart Contract and decentralized application that enables to create an arbitrary regulation for own ownership, transaction format, and state transition function. Smart Contract, cryptographic that has value and only opened if a certain condition is fulfilled, can be created on a platform, with strength bigger than what Bitcoin scripting offered. It is because the strength added are Turing-completeness, value-awareness, blockchain awareness and state