Blockchain: Tools, Challenges and Benefits

Abstract

There has been a dramatic shift in the digital world due to blockchain technology, offering decentralised, transparent, and secure solutions with applications spanning supply chains, finance, healthcare, and beyond. This paper presents an overview of blockchain technologies and tools, outlining their capabilities, benefits, and drawbacks. These include Ethereum, Hyperledger Fabric, Remix IDE, Meta Mask, Geth, Mist, IPFS, Web3.js, Corda, Dex Tools, Bitcoinj, Ganache, and Parity. It highlights the continuous endeavours to utilise blockchain to its maximum capacity by presenting the continuing attempts to overcome these obstacles via sustainability practices, standardisation initiatives, and alternative consensus mechanisms. It emphasises Collaboration among stakeholders to overcome these obstacles and achieve the digital age’s revolutionary potential of blockchain technology.