A transient survey on blockchain technology: Topology, challenges and applications
Vol 1, Issue 1, 2023
VIEWS - 1250 (Abstract)
Download PDF
Abstract
Recently, there has been a gigantic amount of attention that received by blockchain technology. Serving as an entrenched ledger, this technology allows a decentralized transaction. In modern life, numerous fields as applications of blockchain technology are emerging, which includes the Internet of Things (IoT), financial sector services, reputation system, and many more. Due to different properties like auditability, persistency, decentralization, and anonymity. blockchain technology serves extensively in academic and industrial sectors. Issues with security and scalability are the two main concerns that need a solution in regard to this technology. This paper represents a brief overview of blockchain technology. Furthermore, there are different challenges and advantages listed in this paper.
Keywords
References
1. Sharma A, Jha RK. A comprehensive survey on security issues in 5G wireless communication network using beamforming approach. Wireless Personal Communications 2021; 119(4): 3447–3501. doi: 10.1007/s11277-021-08416-0
2. Popper N. A venture fund with plenty of virtual capital, but no capitalist. The New York Times, 21 May 2016.
3. The Economist. The great chain of being sure about things. The Economist, 31 October 2015.
4. Iansiti M, Lakhani KR. The truth about blockchain. Available online: https://hbr.org/2017/01/the-truth-about-blockchain (accessed on 17 October 2023).
5. Nakamoto S. Bitcoin: A peer-to-peer electronic cash system. Available online: https://assets.pubpub.org/d8wct41f/31611263538139.pdf (accessed on 17 October 2023).
6. Oberhaus D. The world’s oldest blockchain has been hiding in the New York Times since 1995. Available online: https://www.vice.com/en/article/j5nzx4/what-was-the-first-blockchain (accessed on 17 October 2023).
7. Sherman AT, Javani F, Zhang H, Golaszewski E. On the origins and variations of blockchain technologies. IEEE Security & Privacy 2019; 17(1): 72–77. doi: 10.1109/MSEC.2019.2893730
8. Haber S, Stornetta WS. How to time-stamp a digital document. In: Menezes AJ, Vanstone SA (editors). CRYPTO 1990: Advances in Cryptology-CRYPTO’ 90, Proceedings of 10th Conference on the Theory and Application of Cryptography; 11–15 August 1990; Santa Barbara, United States. Springer; 1990. pp. 437–455. doi: 10.1007/3-540-38424-3_32
9. Bayer D, Haber S, Stornetta WS. Improving the efficiency and reliability of digital time-stamping. In: Capocelli R, De Santis A, Vaccaro U (editors). Sequences II—Methods in Communication, Security, and Computer Science. Springer; 1993. pp. 329–334. doi: 10.1007/978-1-4613-9323-8_24
10. Nian LP, Chuen DLK. A light touch of regulation for virtual currencies. In: Chuen DLK (editor). Handbook of Digital Currency: Bitcoin, Innovation, Financial Instruments, and Big Data. Academic Press; 2015. pp. 309–326. doi: 10.1016/B978-0-12-802117-0.00016-3
11. Buterin V. Ethereum whitepaper. Available online: https://ethereum.org/en/whitepaper/ (accessed on 17 October 2023).
12. Blockchain. Blockchain size. Available online: https://www.blockchain.com/explorer/charts/blocks-size (accessed on 17 October 2023).
13. Armstrong S. Move over Bitcoin, the blockchain is only just getting started. Available online: https://www.wired.co.uk/article/unlock-the-blockchain (accessed on 17 October 2023).
14. Catalini C, Gans JS. Some simple economics of the blockchain. Communications of the ACM 2020; 63(7): 80–90. doi: 10.1145/3359552
15. Tapscott D, Tapscott A. Here’s why blockchains will change the world. Available online: https://fortune.com/2016/05/08/why-blockchains-will-change-the-world/ (accessed on 17 October 2023).
16. Bheemaiah K. Block chain 2.0: The renaissance of money. Available online: https://www.wired.com/insights/2015/01/block-chain-2-0/ (accessed on 17 October 2023).
17. Chen H, Pendleton M, Njilla L, Xu S. A survey on ethereum systems security: Vulnerabilities, attacks, and defenses. ACM Computing Surveys 2020; 53(3): 1–43. doi: 10.1145/3391195
18. Bhatia S. Structured Information Flow (SIF) Framework for Automating End-to-End Information Flow for Large Organizations [Master’s thesis]. Virginia Polytechnic Institute and State University; 2006.
19. Chuen DLK. Handbook of Digital Currency: Bitcoin, Innovation, Financial Instruments, and Big Data, 1st ed. Academic Press; 2015.
20. Ministry of Economy, Trade and Industry (METI). Survey on blockchain technologies and related services. Available online: https://www.smallake.kr/wp-content/uploads/2016/06/0531_01e.pdf (accessed on 17 October 2023).
21. Buterin V. On public and private blockchains. Available online: https://blog.ethereum.org/2015/08/07/on-public-and-private-blockchains (accessed on 17 October 2023).
22. Meiklejohn S, Pomarole M, Jordan G, et al. A fistful of bitcoins: Characterizing payments among men with no names. In: Proceedings of the 2013 Conference on Internet Measurement Conference (IMC’13); 23–25 October 2013; Barcelona, Spain. pp. 127–140. doi: 10.1145/2504730.2504747
23. Kosba A, Miller A, Shi E, et al. Hawk: The blockchain model of cryptography and privacy-preserving smart contracts. In: Proceedings of 2016 IEEE Symposium on Security and Privacy (SP); 22–26 May 2016; San Jose, CA, USA. pp. 839–858. doi: 10.1109/SP.2016.55
24. Barcelo J. User privacy in the public bitcoin blockchain. Available online: https://www.semanticscholar.org/paper/User-Privacy-in-the-Public-Bitcoin-Blockchain-Barcel%C3%B3/549e7f042fe0aa979d95348f0e04939b2b451f18 (accessed on 17 October 2023).
25. Eyal I, Sirer EG. Majority is not enough: Bitcoin mining is vulnerable. Communications of the ACM 2018; 61(7): 95–102. doi: 10.1145/3212998
26. Guo Y, Liang C. Blockchain application and outlook in the banking industry. Financial Innovation 2016; 2: 24. doi: 10.1186/s40854-016-0034-9
27. Buterin V. A next-generation smart contract and decentralized application platform. Available online: https://ethereum.org/669c9e2e2027310b6b3cdce6e1c52962/Ethereum_Whitepaper_-_Buterin_2014.pdf (accessed on 17 October 2023).
28. Huawei Technologies Co., Ltd. Huawei’s blockchain whitepaper. Available online: https://www.huaweicloud.com/content/dam/cloudbu-site/archive/hk/en-us/about/analyst-reports/images/4-201804-Huawei%20Blockchain%20Whitepaper-en.pdf (accessed on 17 October 2023).
29. Santander. Santander becomes first UK bank to introduce blockchain technology for international payments with the launch of a new app. Available online: https://www.santander.co.uk/about-santander/media-centre/press-releases/santander-becomes-first-uk-bank-to-introduce-blockchain (accessed on 17 October 2023).
30. ASX. About CHESS replacement. Available online: https://www.asx.com.au/services/chess-replacement.htm (accessed on 17 October 2023).
31. Oxygen. Breathing new life into crypto assets. Available online: https://oxygen.trade/OXYGEN_White_paper_February.pdf (accessed on 17 October 2023).
32. Ripple. Ripple labs announces Fidor bank AG as the first bank to use the ripple protocol. Available online: https://ripple.com/ripple-press/ripple-labs-announces-fidor-bank-ag-as-first-bank-to-use-the-ripple-protocol/ (accessed on 17 October 2023).
33. CitiusTech. Blockchain for healthcare. Available online: https://www.ehidc.org/sites/default/files/resources/files/blockchain-for-healthcare-341.pdf (accessed on 17 October 2023).
34. Ben R. Will blockchain transform healthcare? Available online: https://www.forbes.com/sites/ciocentral/2018/08/05/will-blockchain-transform-healthcare/ (accessed on 17 October 2023).
35. Icorating. Blockchain-based advertising services in smart cities. Available online: https://icorating.com/upload/whitepaper/tI26WlI7JTY7CVgjt TllhbMXABGqZHQk7YwxXVpx.pdf (accessed on 17 October 2023).
36. Casey MJ. Bitbeat: Blockchains without coins stir tensions in bitcoin community. The Wall Street Journal, 14 April 2015.
37. Goldin M, Soleimani A, Young J. The AdChain registry. Available online: https://blockchain-x.eu/wp-content/uploads/2018/02/The_adChain_Registry_ENG.pdf (accessed on 17 October 2023).
38. Interactive Advertising Bureau. Blockchain for video advertising: A market snapshot of publisher and buyer use cases. Available online: https://www.iab.com/wp-content/uploads/2018/02/Blockchain_for_Video_Advertising_Publisher-Buyer_Use_Cases_2018-02.pdf (accessed on 17 October 2023).
39. ChainThat. The utility of distributed ledger technology in facility arrangements for brokers and (re)insurers Available online: https://static1.squarespace.com/static/5b8fab6996d455a32e992c8e/t/5b90e329aa4a9977bab7e87c/1536326606876/ChainThat+Facilities+white+paper (accessed on 17 October 2023).
40. Crunchbase. InsureX technologies. Available online: https://www.crunchbase.com/organization/insurex-technologies (accessed on 17 October 2023).
41. Aigang. Autonomous insurance network—Fully automated insurance for IoT devices and a platform for insurance innovation built around data. Available online: https://cryptopapers.info/assets/pdf/aigang.pdf (accessed on 17 October 2023).
42. Napster. Available online: https://us.napster.com/ (accessed on 17 October 2023).
43. Grokster. Available online: http://www.grokster.com/ (accessed on 17 October 2023).
44. Kulik T. How blockchain just mat transform online copyright protection. Available online: https://abovethelaw.com/2018/02/how-blockchain-just-may-transform-online-copyright-protection/ (accessed on 17 October 2023).
45. Binded. Available online: https://binded.com/ (accessed on 17 October 2023).
46. Copytrack. Available online: http://www.copytrack.com/ (accessed on 17 October 2023).
47. Heidari A, Navimipour NJ, Unal M. A secure intrusion detection platform using blockchain and radial basis function neural networks for internet of drones. IEEE Internet of Things Journal 2023; 10(10): 8445–8454. doi: 10.1109/JIOT.2023.3237661
Refbacks
- There are currently no refbacks.
Copyright (c) 2023 Arunima Sharma
This work is licensed under a Creative Commons Attribution 4.0 International License.
Prof. Maode Ma
Qatar University, Qatar
Processing Speed
-
-
-
- ＜5 days from submission to initial review decision;
- 63% acceptance rate
-
-
The field of computer and telecommunications engineering is rapidly advancing, with the following being some of the latest developments.
more
We are pleased to congratulate the first anniversiry of the journal of Computer and Telecommunication Engineering (CTE).
more
The publication frequency of the journal will transition from a semi-annual to a quarterly schedule, publishing four issues per year (March, June, September, December), starting with the first issue of 2024.
more
The version of this guidence does not pretend to be either complete or neutral. It is intended to deal with some common errors and define the general criteria in Journal of Computer and Telecommunication Engineering .
The new instruction will be applied since 2023, and please authors follow this important notice
Asia Pacific Academy of Science Pte. Ltd. (APACSCI) specializes in international journal publishing. APACSCI adopts the open access publishing model and provides an important communication bridge for academic groups whose interest fields include engineering, technology, medicine, computer, mathematics, agriculture and forestry, and environment.