UIJRT » United International Journal for Research & Technology

A Survey on Blockchain Technology & Future Scope

Vinay Srivastava
Keywords: Blockchain, Smart Contract, Cryptocurrency, IoT, Security, Digital Ledger, PoW, PoS.

Cite ➜

Srivastava, V., 2020. A Survey on Blockchain Technology & Future Scope. United International Journal for Research & Technology (UIJRT), 2(1), pp.04-09.


Blockchain Technology had the foremost impact on our lifestyles within the last decade. many of us still confuse Blockchain with Bitcoin, however they’re not a similar. Bitcoin is associate application that uses Blockchain technology. However, as a distributed technology blockchain as a robust tool may be used for Brobdingnagian way of life applications. There’s a large spectrum of blockchain applications starting from cryptocurrency, risk management, net of things (IoT), monetary services to public and social services. Blockchain technology has shown its wide ability in recent years as a spread of market sectors need ways in which of integration its potentials into their operations. Blockchain has ton of advantages like decentralization, determination, obscurity and auditability. Though variety of studies specialize in usage of blockchain technology in numerous application aspects, there’s no comprehensive survey on the blockchain technology in each the technological and application views. To fill this gap, we have a tendency to conduct a comprehensive survey on blockchain technology, blockchain sort, reviews blockchain application and technical challenges. Moreover, this paper additionally points out the longer term side of blockchain technology.


  1. Bentov, A. Gabizon, and A. Mizrahi, ―Cryptocurrencies without proof of work,‖ CoRR, vol. abs/1406.5694, 2014.
  2. Satoshi Nakamoto, ―Bitcoin: A Peer-to-Peer Electronic Cash System, 2008
  3. Lee R and Maeve D, ―Privacy and Information Sharing‖, Pew Research Center, 2016
  4. Narayanan and J. Clark, Bitcoin’s Academic Pedigree, Communications of the ACM Magazine, vol. 60, no 12, Dec. 2017, p 36-45.
  5. RJ Krawiec et. al., Blockchain: Opportunities for Health Care, Deloitte Report, Aug. 2016. https://goo.gl/y423dT (Erişim: 1 Şubat 2018).
  6. Guy Zyskind, Oz Nathan and Alex ’Sandy’ Pentland, ―Decentralizing Privacy: Using Blockchainto Protect Personal Data‖, Security and Privacy Workshops (SPW), 2015 IEEE [02] Satoshi Nakamoto, ―Bitcoin: A Peer-to-Peer Electronic Cash System‖, 2008
  7. Azaria A, Ekblaw A, Vieira T, Lippman A. MedRec: using blockchain for medical data accessand permission management. International Conference on Open and Big Data (OBD). Vienna, Austria: IEEE; 2016:2530 Satoshi Nakamoto, ―Bitcoin:
  8. A Hou, ―The application of blockchain technology in egovernment in china,‖ in ICCCN. IEEE, 2017, pp. 1–4
  9. E.Dixon and C. M. Cusack, ―Measuring the value of health information exchange,‖ in Health Information Exchange. Elsevier 2016, pp. 231–248.
  10. Richardson, Ethereum vs. Hyperledger, [Online] http://goo.gl/64a3Gg [26] Wall Street Firms to Move Trillions to Blockchains in 2018, IEEE Spectrum, Sept. 2017, [Online] http://goo.gl/bhr3Ck (Erişim: 1 Şubat 2018).
  11. Garay, A. Kiayias, and N. Leonardos, The Bitcoin Backbone Protocol: Analysis and Applications, pp. 281–310, Springer Berlin Heidelberg, Berlin, Heidelberg, 2015.
  12. Gervais, G. O. Karame, V. Capkun, and S. Capkun, ―Is bitcoin a decentralized currency?,‖ IEEE Security Privacy, vol. 12, pp. 54–60, May 2014.
  13. Gervais, G. O. Karame, K. W¨ust, V. Glykantzis, H. Ritzdorf, and S. Capkun, ―On the security and performance of proof of work blockchains,‖ in Proceedings of ACM SIGSAC Conference on Computer and Communications Security (CCS’16), pp. 3–16, New York, NY, USA, 2016.
  14. Nakamoto, Bitcoin: A Peer-to-Peer Electronic Cash System, Feb. 24, 2013. (http://bitcoin.org/ bitcoin.pdf).
  15. U.Opara, O. A. Soluade, ―Straddling the next cyber frontier: The empirical analysis onnetwork International Journal of Network Security, Vol.19, No.5, PP.653-659, Sept. 2017 (DOI: 10.6633/IJNS.201709.19(5).01) 659 security, exploits, and vulnerabilities,‖ International Journal of Electronics and Information Engineering, vol. 3, no. 1, pp. 10–18, 2015.
  16. Singh, ―Cyber-attacks in cloud computing: A case study,‖ International Journal of Electronics and Information Engineering, vol. 1, no. 2, pp. 78–87, 2014
  17. S.Elmaghraby and M. M. Losavio, Cyber security challenges in smart cities: Safety, security and privacy, Journal of Advanced Research, 5 (2014), 491–497.
  18. Zheng, S. Xie, H. Dai, X. Chen and H. Wang, An overview of blockchain technology:Architecture, consensus, and future trends, in Big Data (BigData Congress), 2017 IEEEInternational Congress on, IEEE, 2017, 557–564.
  19. Mendling, I. Weber, W. V. D. Aalst, J. V. Brocke, C. Cabanillas, F. Daniel, S. Debois, C. D. Ciccio, M. Dumas, S. Dustdar et al., Blockchains for business process management-challenges and opportunities, ACM Transactions on Management Information Systems (TMIS), 9 (2018), Article No. 4.
  20. Li, P. Jiang, T. Chen, X. Luo and Q. Wen, A survey on the security of blockchain systems, Future Generation Computer Systems, (2017), URL http://www.sciencedirect.com/science/article/pii/S0167 739X17318332.
  21. Tschorsch and B. Scheuermann, Bitcoin and beyond: A technical survey on decentralized digital currencies, IEEE Communications Surveys & Tutorials, 18 (2016), 2084–2123.
  22. Vitalik Buterin, ―Ethereum and The Decentralized Future”. Future Thinkers Podcast. 2015-04-21. Retrieved 2016-05-13.
  23. Wikipedia,―Bitcoin‖,https://en.wikipedia.org/wiki/Bitc oin.
  24. Ripple, ―RippleNet‖, https://ripple.com
  25. The Future of Blockchain Technology, https://yorksolutions.net/the-future-of-blockchain-technology/.
Scroll to Top