Blockchain Technology in Data Management

Abstract

The introduction of cryptocurrency based decentralized applications and data storage has been illustrating the importance of blockchain technology to the industries. Blockchain technology as a platform allows creating a distributed and replicated ledger of transactions. Blockchain provides a guarantee of tamper resistance for the data generated from various processes to compile massive datasets. Since the data is huge in size and grows exponentially with time, the data management should be efficient to store or process it. We survey the different standards of data processing works in several research directions for bringing the blockchain execution closer to the various domains of databases and its operations. Furthermore, the proposed research work also discusses about the performance, challenges, and future research directions.