Blockchain Technology: Challenges and Security issues in Consensus algorithm

Abstract

Blockchain is picking up footing and one of the omnipresent themes these days can be named. Despite the fact that faultfinders are challenging its durability, safety and stability, it has officially changed the way of life of numerous people in a few territories due to its overwhelming impact on projects, moreover, organizations. Giving that the highlights of blockchain innovation ensure more solid and convenient administrations, it is imperative to think about the security furthermore, protection concerns and complications behind the inventive innovation. The range of blockchain applications extends to open and public services including health, financial, automotive, Internet of Things (IoT) and risk management. Many talk about using the blockchain data system for various applications in the spotlight. Nonetheless, a comprehensive review on the point of view of specialized applications and applications has not yet been an expert. In this paper, we seek to perform a thorough study on the technology of blockchain by analyzing its architecture of varying consensus algorithms over and above challenges and opportunities for security and data protection within blockchains.