A Survey Paper on Blockchain Technology, Challenges and Opportunities

International Journal of Computer Trends and Technology (IJCTT)          
© 2019 by IJCTT Journal
Volume-67 Issue-4
Year of Publication : 2019
Authors : Sandeep Kumar, Abhay Kumar, Vanita Verma
DOI :  10.14445/22312803/IJCTT-V67I4P103


MLA Style: Sandeep Kumar, Abhay Kumar, Vanita Verma "A Survey Paper on Blockchain Technology, Challenges and Opportunities" International Journal of Computer Trends and Technology 67.4 (2019): 16-20.

APA Style:Sandeep Kumar, Abhay Kumar, Vanita Verma (2019). A Survey Paper on Blockchain Technology, Challenges and Opportunities. International Journal of Computer Trends and Technology, 67(4), 16-20.

Blockchain Technology had the most impact on our lifestyles in the last decade. Many people still confuse Blockchain with Bitcoin, but they are not the same. Bitcoin is an application that uses Blockchain technology. However, as a distributed technology blockchain as a powerful tool can be utilized for immense daily life applications. There is a wide spectrum of blockchain applications ranging from cryptocurrency, risk management, internet of things (IoT), financial services to public and social services. Blockchain technology has shown its considerable adaptability in recent years as a variety of market sectors require ways of integrating its potentials into their operations. Blockchain has lot of benefits such as decentralisation, persistency, anonymity and auditability. Although a number of studies focus on usage of blockchain technology in various application aspects, there is no comprehensive survey on the blockchain technology in both the technological and application perspectives. To fill this gap, we conduct a comprehensive survey on blockchain technology, blockchain type, reviews blockchain application and technical challenges. Moreover, this paper also points out the future aspect of blockchain technology.

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Blockchain, smart contract, cryptocurrency, IoT, security, digital ledger, consensus algorithm, PoW, PoS.