Blockchain challenges and opportunities: A survey

Zibin Zheng; Shaoan Xie; Hong Ning Dai; Xiangping Chen; Huaimin Wang

doi:10.1504/IJWGS.2018.095647

Blockchain challenges and opportunities: A survey

Zibin Zheng, Shaoan Xie, Hong Ning Dai, Xiangping Chen^*, Huaimin Wang

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

1500 Citations (Scopus)

Abstract

Blockchain has numerous benefits such as decentralisation, persistency, anonymity and auditability. There is a wide spectrum of blockchain applications ranging from cryptocurrency, financial services, risk management, internet of things (IoT) to public and social services. Although a number of studies focus on using the blockchain technology in various application aspects, there is no comprehensive survey on the blockchain technology in both technological and application perspectives. To fill this gap, we conduct a comprehensive survey on the blockchain technology. In particular, this paper gives the blockchain taxonomy, introduces typical blockchain consensus algorithms, reviews blockchain applications and discusses technical challenges as well as recent advances in tackling the challenges. Moreover, this paper also points out the future directions in the blockchain technology.

Original language	English
Pages (from-to)	352-375
Number of pages	24
Journal	International Journal of Web and Grid Services
Volume	14
Issue number	4
DOIs	https://doi.org/10.1504/IJWGS.2018.095647
Publication status	Published - Oct 2018
Externally published	Yes

Scopus Subject Areas

Software
Computer Networks and Communications

User-Defined Keywords

Blockchain
Consensus algorithms
Cryptocurrency
Internet of things
IoT
Smart contract

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10.1504/IJWGS.2018.095647

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title = "Blockchain challenges and opportunities: A survey",

abstract = "Blockchain has numerous benefits such as decentralisation, persistency, anonymity and auditability. There is a wide spectrum of blockchain applications ranging from cryptocurrency, financial services, risk management, internet of things (IoT) to public and social services. Although a number of studies focus on using the blockchain technology in various application aspects, there is no comprehensive survey on the blockchain technology in both technological and application perspectives. To fill this gap, we conduct a comprehensive survey on the blockchain technology. In particular, this paper gives the blockchain taxonomy, introduces typical blockchain consensus algorithms, reviews blockchain applications and discusses technical challenges as well as recent advances in tackling the challenges. Moreover, this paper also points out the future directions in the blockchain technology.",

keywords = "Blockchain, Consensus algorithms, Cryptocurrency, Internet of things, IoT, Smart contract",

author = "Zibin Zheng and Shaoan Xie and Dai, {Hong Ning} and Xiangping Chen and Huaimin Wang",

note = "Funding Information: The work described in this paper was supported by the National Key Research and Development Program (2016YFB1000101), the National Natural Science Foundation of China (61722214, 61472338), the Program for Guangdong Introducing Innovative and Entrepreneurial Teams (2016ZT06D211), the Pearl River S&T Nova Program of Guangzhou (201710010046), and Macao Science and Technology Development Fund under Grant No. 0026/2018/A1. The authors would like to thank Gordon K-T. Hon for his constructive comments. Funding Information: Huaimin Wang received his PhD in Computer Science from the National University of Defense Technology (NUDT) in 1992. He has been awarded the Chang Jiang Scholars Professor by Ministry of Education of China, and the National Science Fund for Distinguished Young Scholars, and so on. He has published more than 100 research papers in international conferences and journals. His current research interests include middleware, software agent, trustworthy computing. Publisher Copyright: Copyright {\textcopyright} 2018 Inderscience Enterprises Ltd.",

year = "2018",

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language = "English",

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N1 - Funding Information: The work described in this paper was supported by the National Key Research and Development Program (2016YFB1000101), the National Natural Science Foundation of China (61722214, 61472338), the Program for Guangdong Introducing Innovative and Entrepreneurial Teams (2016ZT06D211), the Pearl River S&T Nova Program of Guangzhou (201710010046), and Macao Science and Technology Development Fund under Grant No. 0026/2018/A1. The authors would like to thank Gordon K-T. Hon for his constructive comments. Funding Information: Huaimin Wang received his PhD in Computer Science from the National University of Defense Technology (NUDT) in 1992. He has been awarded the Chang Jiang Scholars Professor by Ministry of Education of China, and the National Science Fund for Distinguished Young Scholars, and so on. He has published more than 100 research papers in international conferences and journals. His current research interests include middleware, software agent, trustworthy computing. Publisher Copyright: Copyright © 2018 Inderscience Enterprises Ltd.

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Blockchain challenges and opportunities: A survey

Abstract

Scopus Subject Areas

User-Defined Keywords

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