Exploring the Blockchain Technology: Issues, Applications and Research Potential

Authors

  • Sheikh Mohammad Idrees Norwegian University of Science and Technology
  • Iflah Aijaz Department of Computer science and Engineering, Jamia Hamdard
  • Roshan Jameel Noida Institute of Engineering and Technology
  • Mariusz Nowostawski Norwegian University of Science and Technology

DOI:

https://doi.org/10.3991/ijoe.v17i07.22803

Keywords:

Blockchain, Distributed Ledger, Crypto-Currency, Smart Contracts, Data Management

Abstract


The blockchain is revolutionizing the current IT industry by increasing its integration with other prominent technologies like Artificial Intelligence, Internet of Things, Big Data and Cloud Computing to name a few. It works as a distributed network with no central authority, where the data is continuously added in the form of blocks. The blocks are validated by the network itself, which makes it transparent and secure. It was first used as a ledger for the transactions of a crypto currency named bitcoin, but with time, innumerable industries have started to implement it. And because of its promising future, it would not take much time to spread in all the IT related areas globally. The blockchain technology is contemplated to be a technology that is still in its infancy and needs a thorough research so that it can be utilized to its full capacity. Consequently, in order to provide a thorough analysis, this paper gives a systematic and comprehensive review of architecture and working of the blockchain along with its types and important characteristics. This paper also discusses about the prominent blockchain platforms available today along with the description of diverse blockchain supported application areas. The issues related to the blockchain technology and the areas in which the work can be done in future are also pointed in this paper, which would be helpful for practitioners and researchers who are willing to work on this fast growing platform.

Downloads

Published

2021-07-02

How to Cite

Idrees, S. M., Aijaz, I., Jameel, R., & Nowostawski, M. (2021). Exploring the Blockchain Technology: Issues, Applications and Research Potential. International Journal of Online and Biomedical Engineering (iJOE), 17(07), pp. 48–69. https://doi.org/10.3991/ijoe.v17i07.22803

Issue

Vol. 17 No. 07 (2021)

Section

Papers

License

The submitting author warrants that the submission is original and that she/he is the author of the submission together with the named co-authors; to the extend the submission incorporates text passages, figures, data or other material from the work of others, the submitting author has obtained any necessary permission.
Articles in this journal are published under the Creative Commons Attribution Licence (CC-BY What does this mean?). This is to get more legal certainty about what readers can do with published articles, and thus a wider dissemination and archiving, which in turn makes publishing with this journal more valuable for you, the authors.
By submitting an article the author grants to this journal the non-exclusive right to publish it. The author retains the copyright and the publishing rights for his article without any restrictions.