Advanced Topics for Blockchain‐Based Applications
Amit Kumar Tyagi, Shabnam Kumari, Tanuj Surve · 2024
Today many emerging technologies like 5G, Quantum computing, Blockchain, Dew Computing etc., are changing the way to doing tasks as we do with current technologies. These technologies are far efficient and cost saving. This chapter explains advanced topics surrounding the implementation of blockchain-based applications, unraveling a tapestry of open issues, technical intricacies, legal issues, and ongoing research challenges. As blockchain technology matures, the pursuit of innovative applications encounters a spectrum of complexities that extend beyond the foundational principles. From a technical perspective, the chapter scrutinizes intricate challenges such as scalability, interoperability, and consensus mechanisms in blockchain architectures. It discusses evolving cryptographic techniques, privacy-preserving protocols, and the integration of emerging technologies to address the evolving demands of diverse applications. Legal issues in the realm of blockchain-based applications are dissected, emphasizing the need for regulatory frameworks and the resolution of jurisdictional ambiguities. The chapter scrutinizes the legal implications of decentralized autonomous organizations (DAOs), smart contracts, and data ownership, shedding light on the evolving legal landscape. Furthermore, the research examines open issues and challenges, providing a comprehensive overview of the state-of-the-art methodologies and proposing avenues for future investigation. Topics such as sustainability, energy consumption, and environmental impacts of blockchain networks are discussed, aligning with the growing consciousness of blockchain's ecological footprint. This chapter aims to serve as a guide for researchers, practitioners, and policymakers, providing information about the multifaceted dimensions of advanced blockchain applications. By navigating through technical intricacies, legal landscapes, and research frontiers, it contributes to the ongoing discourse, fostering a deeper understanding of the challenges and opportunities that lie ahead in the ever-evolving domain of blockchain technology.