The challenges of existence, status, and value for improving blockchain
Open accessAbstract
Blockchain is defined as a distributed ledger technology that can implement financial models. An improved blockchain provides a democratic virtual economic system (DVES) that can verify payments, reach consensus, and store encrypted data in virtual economic systems. In this paper, we review the latest progress and possibilities in improved blockchain with respect to openness, data security, and scalability. This paper outlines the challenges of value, existence, and status (VES) and the state-of-the-art solutions for improved blockchain. Then, this paper discusses the VES in terms of distributed energy, ownership certification, infrastructure, and other fields. More importantly, it analyzed the importance of scale out, which can be a key enabler to solve the main practical problems in constructing DVES.
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If all transactions are saved on the chain, the ledger over time will become extremely large.
“If all transactions are saved on the chain, the ledger over time will become extremely large [144].”
From A survey on the adoption of blockchain in IoT: challenges and solutions (2021) · cites this paper as [144]
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A survey on the adoption of blockchain in IoT: challenges and solutions
Uddin, M. A., Stranieri, A., Gondal, I., & Balasubramanian, V. (2021) · Blockchain: Research and Applications · doi:10.1016/j.bcra.2021.100006 · Cited by 365 · see citing works
- Authors
- Lin, F., & Qiang, M.
- Affiliations
- Hangzhou Dianzi University (CN)
- Venue
- IEEE Access
- Published
- 2019
- Volume
- 7
- Pages
- 7747-7758
- ISSN
- 2169-3536 (ISSN-L)
- OpenAlex
- W2906457394
- Cited by
- 22
- References
- 56
- Citations by year
- 2026: 1 · 2024: 1 · 2023: 1 · 2022: 4 · 2021: 5 · 2020: 9 · 2019: 1
- FWCI
- 6.05
- Type
- journal article
- Language
- en
- Open access
- gold
- doi.org
- Locations
- IEEE Access (publishedVersion)
- DOAJ (DOAJ: Directory of Open Access Journals) (submittedVersion, cc-by-sa)
- Funders
- National Natural Science Foundation of China (61602141)
- Zhejiang Provincial Science and Technology Plan Project of China (2018C01111)
- Topics
- Physical Sciences › Computer Science › Information Systems › Blockchain Technology Applications and Security
- Physical Sciences › Computer Science › Information Systems › Blockchain Technology in Education and Learning
- Physical Sciences › Computer Science › Computer Networks and Communications › Distributed systems and fault tolerance
- Keywords
- blockchain, distributed ledger technology, data security, scalability, horizontal scaling, consensus, payment verification, distributed energy resources, infrastructure
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