A study of Blockchain technology: Architecture, challenges and future trends

Abstract

The academic community, national governments, financial institutions, and energy supply businesses have all given blockchains, commonly referred to as distributed ledgers, a lot of attention. Blockchains are seen to have the potential to significantly improve lives and spur innovation, according to several individuals from different fields. Blockchains offer safe, transparent, and irreversible platforms that can accommodate innovative business ideas, particularly when integrated with smart contracts. This article provides an in-depth analysis of the fundamental ideas underlying blockchain technology, covering system topologies, challenges, characteristics, and a taxonomy of blockchain.