Blockchain‐Empowered Decentralized Applications
Atharva Deshmukh, Anand Kumar Mishra, G. Balamurugan, Amit Kumar Tyagi · 2023
Today, each application shifting itself toward decentralized and distributed technology to build trust and improve reliability among consumers/customers. Smart contract (blockchain 2.0) is one of the best applications of blockchain, which is being used today in land reforms, supply chain management, etc. A smart contract is an automated computerized protocol which is used to digitally facilitate, verify, or apply the agreement for the performance of a legal contract. Also, with this, many other uses of smart contracts and blockchain technology are increasing day by day, i.e., in agriculture, government welfare schemes, government records, healthcare, military uses, etc. Together, during the implementation of blockchain, many other serious issues, like scalability, standardization, lack of skilled people, security of data in blocks, etc., were raised in many applications. This work includes several blockchain-enabled several applications and discusses how blockchain has changed such applications’ importance to a certain level for industry 4.0 and Society 5.0. Also, some other useful points/insights regarding blockchain for the smart era have been included in this work.