Recent advances in Blockchain Technology: A survey on Applications and Challenges

TL;DR

This survey reviews recent advancements in blockchain technology, focusing on new applications, platforms, consensus mechanisms, and future research challenges, highlighting its growing importance and ongoing developments.

Contribution

It provides a comprehensive overview of recent blockchain developments, applications, platforms, and identifies future research directions and challenges.

Findings

Identification of emerging blockchain applications

Analysis of various blockchain platforms and consensus mechanisms

Highlighting key future research challenges

Abstract

The rise of blockchain technology within a few years has attracted researchers across the world. The prime reason for worldwide attention is undoubtedly due to its feature of immutability along with the decentralized approach of data protection. As this technology is progressing, lots of developments in terms of identifying new applications, blockchain-based platforms, consensus mechanisms, etc are taking place. Hence, in this article, an attempt has been made to review the recent advancements in blockchain technology. Furthermore, we have also explored the available blockchain platforms, highlighted and explored future research directions and challenges.