Blockchain Applications Issues and Challenges

Abstract

Today, blockchain technology is used in various fields and received a lot of attention from industry and academia due to its unique properties. Cryptocurrency is popular and takes place in industry, academic, and banking worldwide for various transactions. Blockchain is a term which is constantly changed the world and our lives. It is a chain of blocks that store information with digital signatures. It is a decentralized, incorruptible, and open ledger that records the transaction between two parties securely, verifiable and immutable. The transaction of records in the blockchain remains unchanged due to its immutable nature and all the records are verified and available to all the nodes of the block. The consensus algorithm to make ensure network safety and security at the time of computation. In this paper, we are trying to review blockchain technology of last one decade on various parameters. This paper is divided into phases. First phase is exploring the applications of blockchain in some areas like energy, finance, healthcare, government, etc. second phase focused on various issues and challenges of blockchain of recent advances have been reviewed. In third phase, challenges of blockchain and the future scope of blockchain technology.  This review paper will be benefited as an unbiased direction for the researchers.