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A Detailed Review on Blockchain and Its Applications

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Abstract

In the recent past, there has been a huge concern for secured storage of records, and transactions between varied parties and applications. Using the concept of cryptography, and its increase in popularity in the current generation we here describe the concept of blockchain technology that helps provide solutions to the above issues. It describes the design and functionality of blockchain technology. It gives a brief insight into the types of blockchain used in various industries. In this paper, we also promote the need for the decentralized network over a centralized one which is an important aspect. There are various consensus algorithms used to develop an application, we are giving a comparison between various approaches to decide the best suited algorithm for the required application. Furthermore, we provide a detailed analysis on the various applications of blockchain with use case. We also present an insight into the future advancements in the field of blockchain.

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Authors and Affiliations

  1. Department of CSE, JSS Academy of Technical Education Bangalore, Bangalore, India

    Akash Raj Khettry, Karthik R. Patil & Abhilash C. Basavaraju

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  1. Akash Raj Khettry
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  2. Karthik R. Patil
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  3. Abhilash C. Basavaraju
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Correspondence to Akash Raj Khettry or Karthik R. Patil.

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This article is part of the topical collection “Advances in Computational Approaches for Artificial Intelligence, Image Processing, IoT and Cloud Applications” guest edited by Bhanu Prakash K N and M. Shivakumar.

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Khettry, A.R., Patil, K.R. & Basavaraju, A.C. A Detailed Review on Blockchain and Its Applications. SN COMPUT. SCI. 2, 30 (2021). https://doi.org/10.1007/s42979-020-00366-x

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