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Emtech Intro

This document discusses the evolution and significance of Blockchain technology, initially developed for Bitcoin, highlighting its security, anonymity, and data integrity features. A systematic mapping study was conducted, revealing that over 80% of research focuses on Bitcoin, with limited exploration of other applications and scalability challenges. The paper also emphasizes the need for clearer guidelines on when to adopt Blockchain and its potential impact on various industries, projecting a significant market growth in the coming years.

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3 views1 page

Emtech Intro

This document discusses the evolution and significance of Blockchain technology, initially developed for Bitcoin, highlighting its security, anonymity, and data integrity features. A systematic mapping study was conducted, revealing that over 80% of research focuses on Bitcoin, with limited exploration of other applications and scalability challenges. The paper also emphasizes the need for clearer guidelines on when to adopt Blockchain and its potential impact on various industries, projecting a significant market growth in the coming years.

Uploaded by

abyhunakneda
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Introduction

✓ Blockchain is a decentralized transaction and data management technology


developed first for Bitcoin cryptocurrency. The interest in Blockchain technology has
been increasing since the idea was coined in 2008. The reason for the interest in
Blockchain is its central attributes that provide security, anonymity and data integrity
without any third party organization in control of the transactions, and therefore it
creates interesting research areas, especially from the perspective of technical
challenges and limitations. In this research, we have conducted a systematic mapping
study with the goal of collecting all relevant research on Blockchain technology. Our
objective is to understand the current research topics, challenges and future directions
regarding Blockchain technology from the technical perspective. We have extracted 41
primary papers from scientific databases. The results show that focus in over 80% of
the papers is on Bitcoin system and less than 20% deals with other Blockchain
applications including e.g. smart contracts and licensing. The majority of research is
focusing on revealing and improving limitations of Blockchain from privacy and security
perspectives, but many of the proposed solutions lack concrete evaluation on their
effectiveness. Many other Blockchain scalability related challenges including
throughput and latency have been left unstudied. On the basis of this study,
recommendations on future research directions are provided for researchers.

✓ Blockchain is a technology making the shared registry concept from distributed


systems a reality for a number of application domains, from the cryptocurrency one to
potentially any industrial system requiring decentralized, robust, trusted, and automated
decision making in a multi-stakeholder situation. Nevertheless, the actual advantages in
using blockchain instead of any other traditional solution (such as centralized
databases) are not completely understood to date, or at least there is a strong need for
a vademecum guiding designers toward the right decision about when to adopt
blockchain or not, which kind of blockchain better meets use-case requirements, and
how to use it.

✓ Blockchain is one of the most important technical invention in the recent years.
Blockchain is a transparent money exchange system that has transformed the way a
business is conducted. Companies and tech giants have started investing significantly
in the blockchain market and it is expected to be net worth of more than 3 trillion dollars
in next 5 years. It has become growing popular because of its irrefutable security and
ability to provide complete solution to digital identity issues. It is a digital ledger in a
peer to peer network. This paper provides a background on Blockchain technology,
history, it’s architecture, how it works, advantages and disadvantages and its
application in different industries.

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