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The Revolution of Blockchain: State-of-the-Art and Research Challenges

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Abstract

With the rapid development of Information Technology (IT) industries, data or information security has become one of the critical issues. Nowadays, Blockchain technology is widely using for improving data security. It is a tool for the individual and organization to interchange the digital asset without the intervention of a trusted third party i.e. a central administrator. This technology has given the ability to create digital tokens for representing assets, innovation and likely reshaping the scenery of entrepreneurship. Blockchain has several key properties, such as decentralization, immutability and transparency without using a trusted third party. It can be used in several fields, such as healthcare, digital voting, Internet of Things (IoT) and many more. This study aims to discuss the fundamentals of Blockchain. In this paper, the technology or working procedure of Blockchain including many applications in several fields are discussed. Finally, future work directions and open research challenges in the domain of Blockchain have been also discussed in detail.

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Authors and Affiliations

  1. Department of Computer Science and Engineering, National Institute of Technology Patna, Patna, Bihar, India

    Suyel Namasudra

  2. Ministry of Skill Development and Entrepreneurship, Government of India, New Delhi, India

    Ganesh Chandra Deka

  3. School of Computing Science and Engineering, Galgotias University, Greater Noida, UP, India

    Prashant Johri

  4. Faculty of Technical and Engineering, Islamic Azad University, Shahr-e-Rey Branch, Tehran, Iran

    Mohammad Hosseinpour

  5. Faculty of Engineering & Information Technology, University of Technology Sydney, NSW, Australia

    Amir H. Gandomi

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  1. Suyel Namasudra
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Namasudra, S., Deka, G.C., Johri, P. et al. The Revolution of Blockchain: State-of-the-Art and Research Challenges. Arch Computat Methods Eng 28, 1497–1515 (2021). https://doi.org/10.1007/s11831-020-09426-0

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