Blockchain Technology: Challenges and Opportunities

Year : 2025 | Volume : 12 | Issue : 01 | Page : 21 30
    By

    Gauri Vishnoi,

  • Subhash Singh Parihar,

  • Kumar Saurabh,

  1. Student, Department of Computer Science and Engineering, Pranveer Singh Institute of Technology, Kanpur, Uttar Pradesh, India
  2. Professor, Department of Computer Science and Engineering, Pranveer Singh Institute of Technology, Kanpur, Uttar Pradesh, India
  3. Assistant Professor, Department of Computer Science and Engineering, Pranveer Singh Institute of Technology, Uttar Pradesh, India

Abstract

Blockchain is a revolutionary digital, distributed network technology which has the power to replace third party trusted with mathematical concept and algorithms. It is considered as a change in every aspect in the life of humans. It is basically the peer-to-peer connection within a decentralized database. Blockchain provides us with the features of security, privacy, accessibility as well as immutability. Blockchains are mostly used for registering transactions, authenticating and validating digital assets, governing interactions, managing identities as well as recording data among multiple parties. These processes are conducted in a decentralized, secure, distributed and tamper-proof manner ensuring data integrity and fostering trust among users. Blockchain also provides anonymity and enhances operational efficiency, further solidifying its role as a transformative trust-based technology. In recent years, blockchain has gained substantial popularity, becoming a critical tool for managing sensitive digital transactions and documentation. In this paper, we aim to identify the key challenges, arising opportunities, and implementation. We aim to classify them for clearer understanding and enumerate future research opportunities to lead industry and researchers in an informative and effective direction.

Keywords: Applications, blockchain, decentralized, documentation, trust-based

[This article belongs to Journal of Advanced Database Management & Systems ]

How to cite this article:
Gauri Vishnoi, Subhash Singh Parihar, Kumar Saurabh. Blockchain Technology: Challenges and Opportunities. Journal of Advanced Database Management & Systems. 2024; 12(01):21-30.
How to cite this URL:
Gauri Vishnoi, Subhash Singh Parihar, Kumar Saurabh. Blockchain Technology: Challenges and Opportunities. Journal of Advanced Database Management & Systems. 2024; 12(01):21-30. Available from: https://journals.stmjournals.com/joadms/article=2024/view=191797


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Regular Issue Subscription Review Article
Volume 12
Issue 01
Received 13/12/2024
Accepted 19/12/2024
Published 31/12/2024
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