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Blockchain Technology: Opportunities and Challenges in Various Domains

Aman Kumar Dhiman*, Ajay Kumar**

*-** Department of Computer Science and Informatics, Central University of Himachal Pradesh, Dharamsala, Himachal Pradesh, India.

Periodicity:October - December'2022
DOI : https://doi.org/10.26634/jse.17.2.19175

Abstract

Blockchain has been used in non-financial applications since it was first introduced with Bitcoin. Bitcoin uses peer-topeer technology to operate without a central authority or banks; the management of transactions and the issuance of bitcoins is carried out collectively by the network. Bitcoin is open source; its design is public, no one owns or controls bitcoin, and anyone can participate. In blockchain technology, no intermediaries are used to establish a decentralized system. Based on literature reviews, this paper discusses blockchain technology concepts, mechanisms, applications, opportunities, and other relevant solutions for real-world problems. Blockchain concepts are discussed in this paper using healthcare, education, and logistics examples. Finally, it will discuss the various blockchains, their permissions, architectures, and emerging features.

Keywords

Blockchain Technology, Consensus, Cryptography, Decentralization, Distributed Ledger, Smart Contracts.

How to Cite this Article?

Dhiman, A. K., and Kumar, A. (2022). Blockchain Technology: Opportunities and Challenges in Various Domains. i-manager’s Journal on Software Engineering, 17(2), 20-26. https://doi.org/10.26634/jse.17.2.19175

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