A Conceptualized Study on Blockchain Technological Algorithms, Cyber-Attacks and Application Perceptions
Vivek Khirasaria, Suresh Kumar Kaswan, Lisha Yugal, Akanksha Shangloo · 2024
The use of technology has increased in some ways revolutionized in many segments. Blockchain technology consists of increasing lists of record, known as blocks, that are safely connected to one another via encryption and decryption methodology known as Cryptography. Blockchain is an emerging technology that has the potential to revolutionize the global economy and establish a reliable connection in multi-party transactions. Blockchain has been deployed in a handful of actual use cases. Numerous blockchain applications exist, ranging from public and governmental services to cryptocurrencies, financial services, and risk management through the internet of things (IoT). There isn’t a comprehensive assessment on the blockchain technology in terms of both technological and application perceptions, despite the fact that many research concentrate on implementing the technology in different application aspects. Therefore, efforts have been made to make an extensive review on the blockchain technology to narrow this gap. In the Present work taxonomy, blockchain consensus algorithms, its benefits, drawbacks, and various Blockchain applications are being discussed.