A Deep Investigation on Blockchain Architecture and its Frameworks
Neha Sharma, Naveen Kumar, Rajesh Kumar Kaushal · 2024
Blockchain technology is revolutionizing digitalization by providing safe, open transactions across sectors. It functions on a distributed system of nodes and keeps a shared ledger for security, transparency, and the eradication of fraud. This study aims to provide insights into the theoretical and practical uses of blockchain technology, addressing its architecture, mechanism, and application cases. It aims to help the academic community understand future prospects and research obstacles. For reviewing the literature popular databases including Google Scholar, IEEE Xplore, and Science Direct were used. The study's main findings are that Blockchain research is in its developing phase, with industry-focused research focusing on issues like data protection, scalability, confidentiality, implementation costs, and regulatory constraints for functional and adaptable blockchain technology. Blockchain technology is advancing in spite of numerous obstacles, providing a safe internet and serving as the foundation for cryptocurrencies like Ethereum and Bitcoin. Since peer-to-peer networks are enabled, intermediaries are removed, making it the most revolutionary invention since the internet. It should be applied in situations where it makes sense and is required.