A Pervasive Review of Blockchain Technology and Its Potential Applications
In today’s digital age, a sizable data handling is a foremost concern topic for researchers. The several applications like big data, data analysis, Image processing, data mining are required processing of large amount of data. The Blockchain is a distributed ledger technology that stores information across various systems securely to enable peer-to-peer transactions by creating a reliable source of truth dig out mediating the so-called intermediaries of trust. A Blockchain is a technology for constructing distinguished types of distributed databases composed of unswerving blocks of data, each containing a list of transactions and a peerless reference to its predecessor block. The Blockchain based applications are springing up, covering a lot of fields, including reputation system, Internet of Things (IoT,) big data, and financial services, and so on. This technique is a shared, distributed ledger that makes easier the process of recording transactions and tracking assets in a business network. In this paper, we aimed to demonstrate a close-up view about Blockchain technology. We also provide an overview of Blockchain architecture, differentiate different Block chain and how Blockchain works. With the swiftness of its growth and development, we trust that Blockchain will soon become a very common and prominent phenomenon.
Blockchain, Big Data, Distributed Ledger, Consensus Protocol, Bitcoin, Delegated Proof of Stake (DPoS), Consortium Blockchain
[1]
Ølnes, S.: Beyond bitcoin enabling smart government using blockchain technology. In: Scholl, H. J., et al. (eds.) EGOVIS 2016. LNCS, vol. 9820, pp. 253–264. Springer, Cham (2016). doi: 10.1007/978-3-319-44421-5_20.
[2]
Dr. Yusuf Perwej, “An Experiential Study of the Big Data,” for published in the International Transaction of Electrical and Computer Engineers System (ITECES), USA, ISSN (Print): 2373-1273 ISSN (Online): 2373-1281, Vol. 4, No. 1, page 14-25, March 2017, DOI: 10.12691/iteces-4-1-3.
[3]
Böhme, R., Christin, N., Edelman, B., Moore, T.: Bitcoin: economics, technology, and governance. J. Econ. Perspect. 29, 213–238 (2015).
[4]
Tschorsch, F., Scheuermann, B.: Bitcoin and beyond: a technical survey on decentralized digital currencies. IEEE Commun. Surv. Tutorials 18, 2084–2123 (2016).
[5]
Kosba, A., Miller, A., Shi, E., Wen, Z., Papamanthou, C.: Hawk: the blockchain model of cryptography and privacy-preserving smart contracts. In: 2016 IEEE Symposium on Security and Privacy, pp. 839–858 (2016).
[6]
Zyskind, G., Nathan, O., Pentland, A. S.: Decentralizing privacy: using blockchain to protect personal data. In: Proceedings of 2015 IEEE Security and Privacy Workshop, SPW 2015, pp. 180–184 (2015).
[7]
F. Tschorsch and B. Scheuermann. Bitcoin and beyond: A technical survey on decentralized digital currencies. IEEE Communications Surveys & Tutorials, 18 (3): 464, 2016.
[8]
S. Omohundro. Cryptocurrencies, smart contracts, and artificial intelligence. AI Matters, 1 (2): 19–21, Dec. 2014.
[9]
M. Swan. Blockchain: Blueprint for a New Economy. O’Reilly, US, 2015.
[10]
A. Gervais, G. O. Karame, V. Capkun, and S. Capkun, \Is bitcoin a decentralized currency?," IEEE Security Privacy, vol. 12, pp. 54{60, May 2014.
[11]
Nikhat Akhtar, Firoj Parwej, Dr. Yusuf Perwej, “A Perusal Of Big Data Classification And Hadoop Technology,” International Transaction of Electrical and Computer Engineers System (ITECES), USA, ISSN (Print): 2373-1273 ISSN (Online): 2373-1281, Vol. 4, No. 1, page 26-38, May 2017, DOI: 10.12691/iteces-4-1-4.
[12]
Tiago M. Fernández-Caramés, Paula Fraga-Lamas, "A Review on the Use of Blockchain for the Internet of Things", Access IEEE, vol. 6, pp. 32979-33001, 2018.
[13]
Cheng Li, Liang-Jie Zhang,”A Blockchain Based New Secure Multi-Layer Network Model for Internet of Things”, IEEE International Congress on Internet of Things (ICIOT), 18 September 2017, Honolulu, HI, USA, DOI: 10.1109/IEEE.ICIOT.2017.34
[14]
Yong Yuan, Fei-Yue Wang,” Blockchain and Cryptocurrencies: Model, Techniques, and Applications ”, IEEE Transactions on Systems, Man, and Cybernetics: Systems (Volume: 48, Issue: 9, Sept. 2018), DOI: 10.1109/TSMC.2018.2854904.
[15]
M. Swan, Blockchain: Blueprint for a New Economy, Sebastopol, CA, USA:, 2015.
[16]
Y. Yuan, F.-Y. Wang, "Blockchain: The state of the art and future trends", Acta Automatica Sinica, vol. 42, no. 4, pp. 481-494, 2016.
[17]
Y. Yuan, F.-Y. Wang, "Towards blockchain-based intelligent transportation systems", Proc. IEEE 19th Int. Conf. Intell. Transp. Syst. (ITSC), pp. 2663-2668, 2016.
[18]
F.-Y. Wang, "Blockchain intelligence: Cornerstone of the future smart economy and smart societies", Proc. 2nd World Intell. Congr., 2018.
[19]
F.-Y. Wang, Y. Yuan, C. M. Rong, J. J. Zhang, "Parallel blockchain: An architecture for CPSS-based smart societies", IEEE Trans. Comput. Social Syst., vol. 5, no. 2, pp. 303-310, Jun. 2018.
[20]
Y. Yuan, T. Zhou, A. Y. Zhou, Y. C. Duan, F.-Y. Wang, "Blockchain technology: From data intelligence to knowledge automation", Acta Automatica Sinica, vol. 43, no. 9, pp. 1485-1490, 2017.
[21]
Tareq Ahram, Arman Sargolzaei, Saman Sargolzaei, Jeff Daniels, Ben Amaba,” Blockchain technology innovations ”, IEEE, Santa Clara, CA, USA, 03 August 2017, DOI: 10.1109/TEMSCON.2017.7998367.
[22]
Bayu Adhi Tama, Bruno Joachim Kweka, Youngho Park, Kyung-Hyune Rhee,”A critical review of blockchain and its current applications”, International Conference on Electrical Engineering and Computer Science (ICECOS), Palembang, Indonesia, 22-23 Aug, 2017, DOI: 10.1109/ICECOS.2017.8167115.
[23]
S. Seebacher, R. Schüritz, "Blockchain technology as an enabler of service systems: A structured literature review", International Conference on Exploring Services Science, Springer, pp. 12-23, 2017.
[24]
K. Christidis, M. Devetsikiotis, "Blockchains and smart contracts for the internet of things", IEEE Access, vol. 4, pp. 2292-2303, 2016.
[25]
J. Yli-Huumo, D. Ko, S. Choi, S. Park, K. Smolander, "Where is current research on blockchain technology?a systematic review", PloS one, vol. 11, no. 10, pp. e0163477, 2016.
[26]
Maxim Ya. Afanasev, Yuri V. Fedosov, Anastasiya A. Krylova, Sergey A. Shorokhov,” An application of blockchain and smart contracts for machine-to-machine communications in cyber-physical production systems ”, IEEE Industrial Cyber-Physical Systems (ICPS), 15-18 May 2018, St. Petersburg, Russia, DOI: 10.1109/ICPHYS.2018.8387630.
[27]
S. Porru, A. Pinna, M. Marchesi, R. Tonelli, "Blockchain-oriented software engineering: Challenges and new directions", 2017 IEEE/ACM 39th IEEE International Conference on Software Engineering Companion, pp. 169-171, February 2017.
[28]
Zibin Zheng, Shaoan Xie, Hongning Dai, Xiangping Chen, Huaimin Wang,” An Overview of Blockchain Technology: Architecture, Consensus, and Future Trends ”, IEEE International Congress on Big Data (BigData Congress), 25-30 June 2017, Honolulu, HI, USA, DOI: 10.1109/BigDataCongress.2017.85.
[29]
C. Christian, A. Elli, Angelo De Caro, K. Andreas, O. Mike, S. Simon, S. Alessandro, V,. Marko et al., "Blockchain cryptography and consensus", IBM Research Zurich, June 2017.
[30]
A. Kosba, A. Miller, E. Shi, Z. Wen, C. Papamanthou, "Hawk: The blockchain model of cryptography and privacy-preserving smart contracts", Proceedings of IEEE Symposium on Security and Privacy (SP), pp. 839-858, 2016.
[31]
M. Ali, J. Nelson, R. Shea, M. J. Freedman, Blockstack: A global naming and storage system secured by blockchains, Santa Clara, CA:, 2016.
[32]
F. Tschorsch, B. Scheuermann, "Bitcoin and beyond: A technical survey on decentralized digital currencies", IEEE Communications Surveys Tutorials, vol. 18, no. 3, pp. 2084-2123, 2016.
[33]
A. Miller, A. Juels, E. Shi, B. Parno, J. Katz, Permacoin: Repurposing Bitcoin work for data preservation. In IEEE S&P, San Jose, CA:, 2014.
[34]
Fangfang Dai, Yue Shi, Nan Meng, Liang Wei, Zhiguo Ye,” From Bitcoin to cybersecurity: A comparative study of blockchain application and security issues ”, 4th International Conference on Systems and Informatics (ICSAI), Hangzhou, China, 11-13 Nov. 2017, DOI: 10.1109/ICSAI.2017.8248427.
[35]
Zyskind Guy, O. Nathan, "Decentralizing privacy: Using blockchain to protect personal data", Security and Privacy Workshops (SPW) IEEE, pp. 180-184, 2015.
[36]
Tosh K. Deepak, "Security implications of blockchain cloud with analysis of block withholding attack", Proceedings of the 17th IEEE/ ACM International Symposium on Cluster Cloud and Grid Computing, IEEE Press, pp. 458-467, 2017.
[37]
Liang Xueping, "Provchain: A blockchain-based data provenance architecture in cloud environment with enhanced privacy and availability", Proceedings of the 17th IEEE/ ACM International Symposium on Cluster Cloud and Grid Computing, IEEE Press, pp. 468-477, 2017.
[38]
Pinyaphat Tasatanattakool, Chian Techapanupreeda,” Blockchain: Challenges and applications ”, International Conference on Information Networking (ICOIN), 10-12 Jan. 2018, Chiang Mai, Thailand, DOI: 10.1109/ICOIN.2018.8343163.
[39]
I. Weber, X. Xu, R. Riveret, G. Governatori, A. Ponomarev, J. Mendling, "Untrusted business process monitoring and execution using blockchain", Intl. Conf. on BPM, Sep. 2016.
[40]
Ahmet Ekİn, Devrim Ünay,” Blockchain applications in healthcare ”, 26th Signal Processing and Communications Applications Conference (SIU), Izmir, Turkey, 2-5 May 2018, DOI: 10.1109/SIU.2018.8404275.
[41]
A. Dorri et al., "Blockchain for IoT security and privacy: The case study of a smart home", IEEE International Conference on Pervasive Computing and Communications Workshops, pp. 618-623, Mar. 2017.
[42]
X. Wang, L. Feng, H. Zhang, C. Lyu, L. Wang, Y. You, "Human resource information management model based on blockchain technology", IEEE Symposium on Service-Oriented System Engineering, pp. 168-173, Apr. 2017.
[43]
D. Fu, L. Fang, "Blockchain-based trusted computing in social network", IEEE International Conference on Computer and Communications, pp. 19-22, Oct. 2016.
[44]
M. H. Chua, B. M. Smyth, A. Murphy, J. Butterfield, "Understanding aerospace composite components' supply chain carbon emissions", Irish Manufacturing Conference IMC32, 2015.
[45]
Yinxin Yan, Bin Duan, Ying Zhong, Xiangshuai Qu, "Blockchain technology in the internet plus: The collaborative development of power electronic devices", IECON 2017, 43rd Annual Conference of the IEEE Industrial Electronics Society.
