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Description:
A blockchain is a distributed ledger that records transactions and is maintained by many nodes through a distributed cryptographic protocol with no central authority. Smart contracts on the blockchain make transactions traceable, transparent and irreversible. Blockchain technology and smart contracts are expected to play an important role in emerging areas such as the Internet of things (IoT), cyber-physical systems (CPS), social networking, crowdsourcing and next generation wireless communications. On the other hand, their advancement should be further developed in terms of scalability, privacy, efficiency, flexibility, and high dependability.