Blockchain Analysis, Challenges and Applications: A Review
DOI:
https://doi.org/10.29304/jqcsm.2025.17.11962Keywords:
Blockchain, proof of work (POW), IoT, cryptography, ATMAbstract
The most dependable service on the planet is blockchain. It functions like a ledger to enable distributed transaction processing. The internet of things (IoT), financial services, non-financial services, and a plethora of other sectors are only a few of the domains in which blockchain technology finds application. Without the requirement for central authority verification, blockchain combines a distributed ledger and a distributed database. The many consensus methods, blockchain challenges, and their extent are covered in this study. This technology is still facing numerous obstacles that need to be resolved, like scalability. The ripple protocol consensus algorithm (RPCA), delegated proof of stake (dPOS), proof of work (POW), proof of stake (POS), stellar consensus protocol (SCP), and proof of importance (POI) are the consensus algorithms behind the technology known as blockchain. This Review discusses the fundamental idea behind blockchain technology as well as different mining techniques, consensus problem algorithms for consensus, and performance-based comparison algorithms, blockchain’s benefits, the architecture of Blockchain and applications of blockchain such as ATM.
Downloads
References
Majid M, Habib S, Javed AR, Rizwan M, Srivastava G, Gadekallu TR, Lin JC. Applications of wireless sensor networks and internet of things frameworks in the industry revolution 4.0: A systematic literature review. Sensors. 2022 Mar 8;22(6):2087.
ALahmed S. Internet of Things Based Blockchain Technology for Gas Station. Iraqi Journal of Intelligent Computing and Informatics (IJICI). 2022 Dec 1;1(2):86-96.
Ma M, Shi G, Li F. Privacy-oriented blockchain-based distributed key management architecture for hierarchical access control in the IoT scenario. IEEE access. 2019 Mar 10;7:34045-59.
Sultana T, Almogren A, Akbar M, Zuair M, Ullah I, Javaid N. Data sharing system integrating access control mechanism using blockchain-based smart contracts for IoT devices. Applied Sciences. 2020 Jan 9;10(2):488.
Lewis A. Blockchain technology explained. Blockchain Technologies. 2015:1-27.
Scholer K. An introduction to Bitcoin and Blockchain technology. Kaye Scholer LLP. 2016 Feb:3-22..
Banerjee M, Lee J, Choo KK. A blockchain future for internet of things security: a position paper. Digital Communications and Networks. 2018 Aug 1;4(3):149-60.
Lin IC, Liao TC. A survey of blockchain security issues and challenges. Int. J. Netw. Secur.. 2017 Sep 1;19(5):653-9.
Hamza NM, Ouf S, El-Henawy IM. A Proposed Technique for Enhancing the Mining Process in Blockchain Architecture. In2020 Fourth International Conference on Computing Methodologies and Communication (ICCMC) 2020 Mar 11 (pp. 7-12). IEEE.
Huynh TT, Nguyen TD, Tan H. A survey on security and privacy issues of blockchain technology. In2019 international conference on system science and engineering (ICSSE) 2019 Jul 20 (pp. 362-367). IEEE.
Hao W, Zeng J, Dai X, Xiao J, Hua Q, Chen H, Li KC, Jin H. BlockP2P: Enabling fast blockchain broadcast with scalable peer-to-peer network topology. In Green, Pervasive, and Cloud Computing: 14th International Conference, GPC 2019, Uberlandia, Brazil, May 26–28, 2019, Proceedings 14 2019 (pp. 223-237). Springer International Publishing.
Puthal D, Malik N, Mohanty SP, Kougianos E, Das G. Everything you wanted to know about the blockchain: Its promise, components, processes, and problems. IEEE Consumer Electronics Magazine. 2018 Jun 15;7(4):6-14.
Li S, Xiao H, Wang H, Wang T, Qiao J, Liu S. Blockchain dividing based on node community clustering in intelligent manufacturing cps. In2019 IEEE International Conference on Blockchain (Blockchain) 2019 Jul 14 (pp. 124-131). IEEE.
Sahoo S, Fajge AM, Halder R, Cortesi A. A hierarchical and abstraction-based blockchain model. Applied Sciences. 2019 Jun 7;9(11):2343.
Ma Y, Sun Y, Lei Y, Qin N, Lu J. A survey of blockchain technology on security, privacy, and trust in crowdsourcing services. World Wide Web. 2020 Jan;23:393-419.
Yang X, Liu J, Li X. Research and analysis of blockchain data. InJournal of Physics: Conference Series 2019 Jun 1 (Vol. 1237, No. 2, p. 022084). IOP Publishing.
Golosova J, Romanovs A. The advantages and disadvantages of the blockchain technology. In2018 IEEE 6th workshop on advances in information, electronic and electrical engineering (AIEEE) 2018 Nov 8 (pp. 1-6). IEEE.
Ling X, Wang J, Le Y, Ding Z, Gao X. Blockchain radio access network beyond 5G. IEEE Wireless Communications. 2020 Oct 20;27(6):160-8.
Sankar LS, Sindhu M, Sethumadhavan M. Survey of consensus protocols on blockchain applications. In2017 4th international conference on advanced computing and communication systems (ICACCS) 2017 Jan 6 (pp. 1-5). IEEE.
Banerjee M, Lee J, Choo KK. A blockchain future for internet of things security: a position paper. Digital Communications and Networks. 2018 Aug 1;4(3):149-60.
Li S, Xiao H, Wang H, Wang T, Qiao J, Liu S. Blockchain dividing based on node community clustering in intelligent manufacturing cps. In2019 IEEE International Conference on Blockchain (Blockchain) 2019 Jul 14 (pp. 124-131). IEEE.
Hughes L, Dwivedi YK, Misra SK, Rana NP, Raghavan V, Akella V. Blockchain research, practice and policy: Applications, benefits, limitations, emerging research themes and research agenda. International journal of information management. 2019 Dec 1;49:114-29.
Lin IC, Liao TC. A survey of blockchain security issues and challenges. Int. J. Netw. Secur.. 2017 Sep 1;19(5):653-9.
Yang X, Liu J, Li X. Research and analysis of blockchain data. InJournal of Physics: Conference Series 2019 Jun 1 (Vol. 1237, No. 2, p. 022084). IOP Publishing.
Ogiela MR, Majcher M. Security of distributed ledger solutions based on blockchain technologies. In2018 IEEE 32nd International Conference on Advanced Information Networking and Applications (AINA) 2018 May 16 (pp. 1089-1095). IEEE.
Mingxiao D, Xiaofeng M, Zhe Z, Xiangwei W, Qijun C. A review on consensus algorithm of blockchain. In2017 IEEE international conference on systems, man, and cybernetics (SMC) 2017 Oct 5 (pp. 2567-2572). IEEE.
Tosh DK, Shetty S, Liang X, Kamhoua C, Njilla L. Consensus protocols for blockchain-based data provenance: Challenges and opportunities. In2017 IEEE 8th Annual Ubiquitous Computing, Electronics and Mobile Communication Conference (UEMCON) 2017 Oct 19 (pp. 469-474). IEEE.
Krishnamurthi R, Shree T. A Brief Analysis of Blockchain Algorithms and Its Challenges. Architectures and frameworks for developing and applying blockchain technology. 2019:69-85.
ALahmed S. Internet of Things Based Blockchain Technology for Gas Station. Iraqi Journal of Intelligent Computing and Informatics (IJICI). 2022 Dec 1;1(2):86-96.
Tasatanattakool P, Techapanupreeda C. Blockchain: Challenges and applications. In2018 International Conference on Information Networking (ICOIN) 2018 Jan 10 (pp. 473-475). IEEE.
Sultana T, Almogren A, Akbar M, Zuair M, Ullah I, Javaid N. Data sharing system integrating access control mechanism using blockchain-based smart contracts for IoT devices. Applied Sciences. 2020 Jan 9;10(2):488.
Ogiela MR, Majcher M. Security of distributed ledger solutions based on blockchain technologies. In2018 IEEE 32nd International Conference on Advanced Information Networking and Applications (AINA) 2018 May 16 (pp. 1089-1095). IEEE.
Dinh TT, Liu R, Zhang M, Chen G, Ooi BC, Wang J. Untangling blockchain: A data processing view of blockchain systems. IEEE transactions on knowledge and data engineering. 2018 Jan 4;30(7):1366-85.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Haider Mohammed Abdulnabi, Sara Mohammed Younis
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
