Blockchain Beyond Bitcoin: Blockchain Technology Challenges and Real-World Applications

Abstract

In the world of Internet of Things, social media, and cloud computing, blockchain is the latest addition to the technology. The swift development of blockchain and its respected applications has made it a force to be recognized. But the scope of blockchain is not limited to bitcoin or the cryptocurrencies implementation. This paper enlightens the stipulation of blockchain beyond the bitcoin. Furthermore, this paper reveals the insights of blockchain technology concepts, evolution, mechanisms and challenges based on literature review. This paper identified the complications or challenges in implementation of blockchain technology in real-world applications. Secure implementation of blockchain technology on small scale applications is the key problem that still need to be addressed. The proposed consensus mechanism would be useful for secure implementation of the blockchain on small-scale application or projects.