An application of blockchain and smart contracts for machine-to-machine communications in cyber-physical production systems

Blockchain, which is a new technology of distributed data storage in the form of a chain of blocks, has become one of the most popular topics in the field of information technology for today. Although the term “blockchain” is often associated with operations in cryptocurrencies (Bitcoin, for example), its application is not limited to this area. The algorithm for automatic confirmation of transactions has already been successfully applied in...