An overview of blockchain technology: Architecture, consensus, and future trends

Zibin Zheng, Shaoan Xie, Hongning Dai, Xiangping Chen, Huaimin Wang

Research output: Chapter in book/report/conference proceedingConference proceedingpeer-review

2841 Citations (Scopus)

Abstract

Blockchain, the foundation of Bitcoin, has received extensive attentions recently. Blockchain serves as an immutable ledger which allows transactions take place in a decentralized manner. Blockchain-based applications are springing up, covering numerous fields including financial services, reputation system and Internet of Things (IoT), and so on. However, there are still many challenges of blockchain technology such as scalability and security problems waiting to be overcome. This paper presents a comprehensive overview on blockchain technology. We provide an overview of blockchain architechture firstly and compare some typical consensus algorithms used in different blockchains. Furthermore, technical challenges and recent advances are briefly listed. We also lay out possible future trends for blockchain.
Original languageEnglish
Title of host publication2017 IEEE International Congress on Big Data (BigData Congress)
PublisherIEEE
Pages557-564
Number of pages8
ISBN (Electronic)9781538619964, 9781538619957
ISBN (Print)9781538619971
DOIs
Publication statusPublished - Jun 2017
Event2017 IEEE International Congress on Big Data (BigData Congress) - Honolulu, United States
Duration: 25 Jun 201730 Jun 2017
https://ieeexplore.ieee.org/xpl/conhome/8027154/proceeding

Conference

Conference2017 IEEE International Congress on Big Data (BigData Congress)
Country/TerritoryUnited States
CityHonolulu
Period25/06/1730/06/17
Internet address

User-Defined Keywords

  • Blockchain
  • decentralization
  • consensus
  • scalability

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