Retracted: Review on the methods involved in Blockchain Technology

Abstract

Blockchain is hailed as a technological breakthrough that has the potential to change social transactions and interaction methods. This is largely because it allows mutually distrustful organizations to exchange information without relying on the financial value of trusted third parties and interacting parties. In addition, the blockchain provides integrity-protected system storage and data distribution. We examine if blockchain is a good idea and the finest possible solution for a certain application situation in this study. We offer a structured technique for determining the optimal technological option for a particular application scenario. Applying our framework, we explore three usage cases in depth: Supply Chain Management, Interbank and International Payments, and Decentralized Autonomous Organizations, and conclude the essay with a look forward to vast prospects.