· 2017· Review
An Overview of Blockchain Technology: Architecture, Consensus, and Future Trends
- 4,334citations
- 2017year
Short summary
This paper provides a comprehensive overview of blockchain technology, detailing its architecture, comparing consensus algorithms, and outlining current technical challenges and future trends.
AI-generated from the title and abstract; the full text is not read.
Key points
- Blockchain enables decentralized, immutable ledgers for transactions.
- Key components include architecture and consensus algorithms.
- Significant challenges remain in scalability and security.
- Future trends point to broader applications beyond finance.
AI-generated from the title and abstract; the full text is not read.
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.
The authors' abstract, as published at the source., 2017 · DOI ↗
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Field: Information Systems
Information SystemsComputer Science