Exploring Recent Trends in Blockchain Technology: A Systematic Literature Review

Abstract

Blockchain technology is used to maintain the ever-growing list of data records. Blockchain can be an authentic ledger which includes applications such as fund transfers, settling trades voting, and several other useful components. However, there are still many underlying challenges associated with blockchain technology. Blockchain (database) is older but a new approach in information technology whose first implementation is Bitcoin (crypto currency). Bitcoin has also used Blockchain technology at its back end to keep a permanent record (chains of block) of all the data. Bitcoin is the primary appliance that formed decentralized surroundingsdesigned for Crypto money, wherever the participant is capable of acquiring and substituting production with Digital cash. Therefore, a confirmed contract could involve crypto cash, contracts, report, or other information. The current study aims to describe a comprehensive synopsis of the blockchain concept which could also be used in many other applications. The most essential material goods of blockchain are made with the aimthat there is no essential overseer or any centralized information storage space routine. Hence, Blockchain transactions occur only in peer to peer network which is distributed among several nodes. Therefore, Blockchain expertise could be an innovative implementation of possible applications, in favor of an organization that enables a safe and sound connection exclusive of the necessitated essential power. The current study proposed and analyzed the possible function of blockchains within a structure throughout a case examination. In addition to do a systematic literature analysis Blockchain technology is expected to bring developments in diverse fields, such as politics, economy, culture, industry, and business models. Therefore, the scholarly research discovered the variety of drivers designed for blockchain accomplishment while highlighting the barriers and risk inborn within the chunk string (Blockchain).