Blockchain Technology: Growing Usecases and Issues to Tackle

Abstract

Advantages of decentralized systems over centralized approaches are reason for increasing incorporation of blockchain technology in almost every digital task. Core benefits of blockchain include decentralization, persistency, auditability and anonymity. This paper discusses Blockchain Technology from the perspective of related attributes, applications and challenges. Specifically, we try to elaborate on the current work pertaining to application of Blockchain Technology to different domains such as Internet of Things (IoT), Artificial Intelligence (AI), Big Data and Software Defined Networking (SDN) keeping in view the challenges of optimized storage, scalability and security.