Blockchains

JARDC, 2019

Blockchain has various advantages, for example, decentralization, pertinacity, namelessness and audit ability. There are a broad variety of apps in the block chain including cryptocmTenl.1, financial services, risk management, open and community services internet of stuff (loT), despite the fact that the various investigations center for utilizing the blockchain innovation in different application angles, there is no complete review of the block chain technology From the point of perspective of both technology and implementation. To block this vacuous, we lead a far reaching study on the blockchain technology. Specifically, this document provides the taxonomy of the block chain, initiates typical blockchain consensus algorithms and evaluates blockchain apps and discusses technical difficulties in addition to latest developments in addressing problems. In addition, this paper additionally calls attention to the future bearings in the blockchain innovation.

International Journal of Engineering Research & Advanced Technology (IJERAT), 2022

The increasing need for organizations to keep a high level of synchronization around the world and the coming of new advancements are pushing increasingly more to move decision-making and operational power from the focus of associations to their edges. The blockchain could be the critical innovation to roll out this improvement conceivable. A blockchain is essentially a distributed database of records or public ledger of all transactions or digital events that have been executed and shared among participating parties. Blockchain is pleased with the fact that it provides high satisfaction and a trust bond to its users. Data immutability, decentralization, anonymity, auditability, and transparency are the main features that make blockchain an attractive technology. This paper presents a study of blockchain technology to provide a comprehensive analysis that includes types, architecture, components, characteristics, and applications of blockchain.

SN Computer Science, 2020

The blockchain technology first emerged with the Bitcoin whitepaper, which was the first successful proposal to implement a decentralized digital currency with ability to execute completely non-reversible transactions without a trusted and centralized third party. Blockchain concept provided an inherent part of this decentralization together with hash-based proof-of-work, public key cryptography, and peer-to-peer network. Even though blockchain technology was introduced to solve the doublespending problem of electronic money without relying on a trusted third party, this particular concept is being researched and already used to solve problems in many other areas. This paper captures concepts of blockchain, its applications, issues, and suggested improvements referring to blockchain-related subsequent publications.

2016

2019

This paper presents an assessment of blockchain technology based on the Emerging Technology Analysis Canvas (ETAC) to evaluate the drivers and potential outcomes. The ETAC is a framework to critically analyze emerging technologies. The assessment finds that blockchain can fundamentally transform the world. It is ready for specific applications in use cases such as digital currency, lightweight financial systems, ledgers, provenance, and disintermediation. However, Blockchain faces significant technical gaps in other use cases and needs at least 5-10 years to come to full fruition in those spaces. Sustaining the current level of effort (e.g. startups, research) for this period of time may be challenging. We also find that the need and merits of decentralized infrastructures compared to centralized and semi-centralized alternatives is not always clear. Given the risk involved and significant potential returns, we recommend a cautiously optimistic approach to blockchain with the focus ...

Applied Sciences, 2021

Blockchain being a leading technology in the 21st century is revolutionizing each sector of life. Services are being provided and upgraded using its salient features and fruitful characteristics. Businesses are being enhanced by using this technology. Countries are shifting towards digital currencies i.e., an initial application of blockchain application. It omits the need of central authority by its distributed ledger functionality. This distributed ledger is achieved by using a consensus mechanism in blockchain. A consensus algorithm plays a core role in the implementation of blockchain. Any application implementing blockchain uses consensus algorithms to achieve its desired task. In this paper, we focus on provisioning of a comparative analysis of blockchain’s consensus algorithms with respect to the type of application. Furthermore, we discuss the development platforms as well as technologies of blockchain. The aim of the paper is to provide knowledge from basic to extensive fro...

International Journal of Scientific Research in Computer Science, Engineering and Information Technology, 2020

Blockchain is considered to be a disruptive core technology. Although many researchers have realized the importance of blockchain, but the research of it is still emerging. It is the record-keeping technology behind bitcoin and is one of the hottest and fastest growing skills in the IT sector today. It serves as an immutable ledger which allows transactions to take place in a decentralized man Blockchain-based applications are rising up, covering numerous fields including finance, healthcare, product management, Internet of Things (IoT), and many more. However, there are still some challenges of blockchain technology such as scalability and security problems which need to be overcome. This paper comprises of a comprehensive study of Blockchain technology. We have included here a deep dive into how blockchains work, its architecture, consensus and various applications. Furthermore, technical challenges are briefly listed.

Zenodo (CERN European Organization for Nuclear Research), 2022

With the exponential advancement in blockchain technology, blockchain brought considerable change to businesses and technology, making a tamper-proof and decentralised approach that can verify and track transactions. Blockchain brings in data integrity, transparency and privacy, which helps multiple fields achieve a decentralised approach. This paper will explore the principles, application and challenges of blockchain technology.

IEEE Access , 2019

In the past few years, the implementation of blockchain technology for various applications has been widely discussed in the research community and the industry. There are sufficient number of articles that discuss the possibility of applying blockchain technology in various areas, such as, healthcare, IoT, and business. However, in this article, we present a comparative analysis of core blockchain architecture, its fundamental concepts, and its applications in three major areas: the Internet-of-Things (IoT), healthcare, business and vehicular industry. For each area, we discuss in detail, challenges and solutions that have been proposed from the research community and industry. This research studies also presented the complete ecosystem of blockchain of all the papers we reviewed and summarized. Moreover, analysis is performed of various blockchain platforms, their consensus models, and applications. Finally, we discuss key aspects that are required for the widespread future adoption of blockchain technology in these major areas.

Periodicals of Engineering and Natural Sciences (PEN), 2019

As the Bitcoin keeps increasing in value compared to other cryptocurrencies, more attention has given to Blockchain Technology (BT), which is the infrastructure behind the Bitcoin, especially on its role in addressing the problems of the classical centralized system. As a digital currency, Bitcoin is dependent on the decentralized cryptographic tools and peer-to-peer system. The digital currency implements a distributed ledger using Blockchain when verifying any type of transaction. In this paper, the aim is to describe how digital currency networks such as Bitcoin provides a "trust-less" platform for users to embark on money transfers without necessarily depending on any central trusted establishments such as payment services or financial institutions. Furthermore, this work comprehensively overviewed the basic principle that underly BT, such as transaction, consensus algorithms, and hashing. This study also provided a novel classification for blockchain types according to their system architecture and consensus strategy. For each type, our contribution was provided with an example, which clearly describes the blockchain features and the transaction steps. Our classification intended to help researchers understand and choose the blockchain for their application. The paper ends with the discussion of the differences between each type

International Journal of Research, 2019

Advanced from the Merkle Tree, Blockchain Technology is a completely decentralized computerized register which keeps a protected history of information trades. The decentralization part of Blockchain Technology does away the need of any focal specialist for overseeing it. In this paper we present an exhaustive diagram on blockchain innovation. We initially start by revealing insight into the basics of Blockchain Technology then we investigate some run of the mill calculations utilized in different blockchains. Blockchain, the establishment of Bitcoin, has gotten broad consideration as of late. Being an ineradicable information putting away innovation, Blockchain can be utilized in budgetary resources as well as anything which has some worth. In any case, being a human development, drawbacks are even here in the blockchain innovation, for example, versatility issues, security issues, and not really easy to use for nonspecialized individuals. Next, with regular specialized issues we have discussed the ongoing advances. We in conclusion finish up this paper by spreading out conceivable future improvements of blockchain innovation.

IEEE Access

Blockchain is relatively a new area of research. However, a surge of research studies on the blockchain has taken place in recent years. These research studies have mostly focused on designing and developing conceptual frameworks to build more reliable, transparent and efficient digital systems. While blockchain brings a wide variety of benefits, it also imposes certain challenges. Therefore, the objective of this research is to understand the properties of blockchain, its current uses, observed benefits and pitfalls to provide a balanced understanding of blockchain. A systematic literature review approach was adopted in this paper in order to attain the objective. A total of 51 articles were selected and reviewed. As outcomes, this research provides a summary of the state-of-the-art research studies conducted in the area of blockchain. Furthermore, we develop a set of concept maps aiming to provide in-depth knowledge on blockchain technology for its efficient and effective usage in the development of future technological solutions. INDEX TERMS Blockchain, concept map, literature review, critical analysis, smart contracts.

2022

In recent years, Blockchain arose as a key technology in building autonomous decentralised financial systems. Its ability to digitize trust enables building trustless systems such as cryptocurrencies where users do not need to rely on any third party to exchange value. The success of cryptocurrencies to operate without any intermediaries draw the interest of business operators who seek to bypass intermediation and thus to reduce cost and gain competitive advantages. As a result, Blockchain was used outside the crypto-sphere to build decentralized systems. However, this portage led to the inception of new types of Blockchains adapted to different specifications and with different designs. Consequently, the technology has diverged from its baseline (Bitcoin) to the point where some systems marketed as "blockchain" share only a few design concepts with the original Blockchain design proposed by Satoshi Nakamoto. This conceptual divergence alongside the lack of comprehensive models and standards made it difficult for both system designers and decision-makers to clearly understand what is a blockchain or to choose a suitable solution. This survey has a double goal; on the one hand, it attempts to contribute to the discussion on the ontological status of DLTs by providing a taxonomy oriented-framework (DCEA) for conceptualizing and examining DLT. On the other hand, it also attempts to present an up-to-date review and evaluation of current blockchains and their variants as constructed of four layers: the data, consensus, execution and application layers.

2019

Abstract—The term Blockchain refers to a wide data management technology that is implemented using decentralized transactions. First developed for Bitcoin cryptocurrency in 2008 and implemented in 2009, the engrossment in the subject has been gradually increasing ever since. With the use of Blockchain it is possible to say that the need was sufficed as more and more individuals are needing to shift to more open source, secure, anonymous and data integral transactions that doesn’t depend on any third party organizations to handle their central attributes was a heavily required. In this review paper we have discussed it’s impact on the current industrial world and it’s possible future in a technical perspective. With majority of the primary papers been on Bitcoin systems and Blockchain applications like Smart Contracts and Licensing, they mostly have focused on the improvement and uncovering of limitations in Blockchain from a setting of privacy and security with less effectiveness results but with challenges like throughput and latency not been touched. With the popularity the word cryptocurrency gotten over time this past few years in all over the world, and Bitcoin being one of the most popular types of it, it has gained billions of dollars of worth success over the years. Accordingly I assume it’s extremely timely to discuss about Blockchain and it’s structure and in what ways it could impact the current and future worlds.

International Journal of Advances in Computer Science and Technology , 2024

The digital code of blockchain technology has revolutionized every aspect of business, commerce and industry. This new system eliminates the need to store and manage codes by providing timely and immutable data. Unlike the traditional systems, these blocks are not specific to a particular organization but are monitored by a network of nodes or computers. Strong encryption protection and connect all blocks together. Blockchain's immutability and security have revolutionized fundamental concepts such as trust, ownership, identity, and financial transactions[6]. This technology enables secure, fast, transparent and pseudonymous transactions. A source of information about blockchain, this article provides an in-depth study of blockchain's history, principles and popularity. Additionally, various consensus algorithms used in the blockchain technology are also carefully examined. Originally conceived as a system for cryptocurrencies, blockchain has evolved into a transformative force across industries. The article discusses the concepts, methods and applications of blockchain technology. Blockchain's decentralized structure, driven by decentralized ledgers and encrypted confirmation, ensures reliability, and security and transparency of information transactions. This research contributes to the growing body of knowledge about blockchain and is useful for researchers, practitioners, and policymakers who want to better understand the technology's impact and future directions. Additionally, this article will examine various applications and real-life examples of blockchain technology and addresses related issues and problems [2-8]. The presentation of non-current events expands the range of the potential applications. This study provides a better understanding of all aspects of blockchain by providing an overview of the products.