Aditi Brahmbhatt
Independent Researcher
India
Abstract
This manuscript reviews foundational blockchain concepts as they applied to secure peer-to-peer (P2P) transactions up to the end of 2017. It examines the original blockchain architecture, consensus mechanisms, transaction validation, and security features that underpinned Bitcoin and early altcoins prior to the Initial Coin Offering (ICO) boom. A comprehensive literature survey highlights key contributions from 2008 to 2017, culminating in a comparative statistical analysis of block-confirmation times and network throughput. A methodology section details selection criteria for primary studies and data sources. Results synthesize performance metrics and security trade-offs. Research gaps are identified regarding scalability, privacy, and interoperability as of 2018. The conclusion outlines enduring lessons for P2P transaction security and directions for post-ICO era research.
Keywords
blockchain, peer-to-peer, consensus, security, Bitcoin
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