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A Survey on Blockchain Technology & Future Scope

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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.

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


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