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Wan says blockchain isn't for everyone

Is blockchain technology the second internet—or at least its second generation? That’s what some researchers are debating. But Hong Wan, director of the Purdue Blockchain Lab and an associate professor of industrial engineering at Purdue University, isn’t sure, despite her deep interest in researching the distributed-database technology.

Wan project receives $1.5 million from Australian company for blockchain research

A Purdue Industrial Engineering lab has received a $1.5 million grant from CollinStar Capital Pty Ltd to support blockchain research and technology development. The Purdue Blockchain Lab, headed by Hong Wan, associate professor of industrial engineering, is the first research lab in the U.S. to study blockchains from an Operations Research perspective, and will work on characterization and application of blockchains to various areas.
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Welcome to our Purdue Blockchain Lab!

A blockchain is a distributed database that maintains a dynamic list of records, secured against tampering and revision. The main hypothesis is that the blockchain establishes a system of creating a distributed consensus in the digital online world. This allows participating entities to know for certain that a digital event happened by creating an incorruptible record in a public ledger. It opens the door for developing an open and scalable digital economy from a centralized one. This technology, and the people behind it, have the potential to impact billions of people and become a crucial part of daily life. We seek to push the envelope on the development of this technology with rigorous research.

A blockchain has three main features:
 
  • Veracity multiple copies of the complete historical record of ledger entries are each verified by consensus. Bogus entries are identified and eliminated by failure to reach consensus.
  • Transparency it is a public record of activity that can be seen by all market participants.
  • Disintermediation it operates using a peer-to-peer network, rather than requiring a specific central organization.

The Purdue Blockchain Lab is a research group at Purdue University focusing on Blockchain and simulation, Blockchain for IoT and Supply Chain, Blockchain for Big Data and AI and its underlying technologies.