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 journalJournal articlepeer-review

2358 Citations (Scopus)


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 languageEnglish
Pages (from-to)352-375
Number of pages24
JournalInternational Journal of Web and Grid Services
Issue number4
Publication statusPublished - Oct 2018

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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