Time Efficient Hash Key Generation for Blockchain Enabled Framework

Blockchain, in general, helps organizations to improve the transparency and governance by removing its shortfalls and building better control overall. Blockchain network, public or private, is a competent technology when used in order with an optimized hashing technique. In a blockchain network, one of the common issues is performance while registering any transactions. Blockchain must need to do some preliminary checks to avoid double-spending before registering the transaction. Here, we implement one of the optimization aspects of the hashing technique, which can contribute to the blockchain mining processes and save time. It enables the blockchain to perform efficiently and reliably. In addition, we examine how well different hashing algorithms perform when added to the blockchain network’s processes. In this research, we analyze several hashing techniques that are employed in the blockchain and are also applied in the supply chain domain due to their efficacy in mitigating past attacks. Our proposed hashing technique allows a blockchain network to improve security and its overall processes. The proposed hashing technique achieves approx. 10-90% performance gain improvements over other existing technique. Our proposed hashing technique allows a blockchain network to improve security and its overall processes. The study also examines how the supply chain management contributes in increasing of overall lead time where process optimization or technological enhancement plays key roles in minimizing the time of some or all the processes. Lead time is one of the common issues of supply chain which impacts on overall order delivery time. We address on how the conjunction of blockchain with optimized hashing technique can address supply chain lead time issues.