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Blockchain challenges and opportunities: a survey
Abstract
Blockchain has numerous benefits such as decentralisation, persistency, anonymity and auditability. There is a wide spectrum of blockchain applications ranging from cryptocurrency, financial services, risk management, internet of things (IoT) to public and social services. Although a number of studies focus on using the blockchain technology in various application aspects, there is no comprehensive survey on the blockchain technology in both technological and application perspectives. To fill this gap, we conduct a comprehensive survey on the blockchain technology. In particular, this paper gives the blockchain taxonomy, introduces typical blockchain consensus algorithms, reviews blockchain applications and discusses technical challenges as well as recent advances in tackling the challenges. Moreover, this paper also points out the future directions in the blockchain technology.
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“Therefore, blockchain has great potential in the construction of future Internet systems [148].”
From Chaos-Based Image Encryption: Review, Application, and Challenges (2023) · cites this paper as [148]
In the citing paper
“Moreover, it is distinguished by its core attributes, including anonymity, transparency, auditability, permanence, persistence, and decentralization, which collectively translate into improved operational performance, efficiency gains, and cost reductions [258,260].”
From Smarter eco-cities and their leading-edge artificial intelligence of things solutions for environmental sustainability: A comprehensive systematic review (2024) · cites this paper as [260]
In the citing paper
“Public blockchain, often referred to as permission-less blockchain, allows anyone to join the blockchain network without permission [1].”
From A Review of Blockchain Architecture and Consensus Protocols: Use Cases, Challenges, and Solutions (2019) · cites this paper as [1]
In the citing paper
“Private blockchain, also called permissioned, is an invite-only network from an authentication authority [1].”
From A Review of Blockchain Architecture and Consensus Protocols: Use Cases, Challenges, and Solutions (2019) · cites this paper as [1]
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Metadata
- Authors
- Zheng, Z., Xie, S., Dai, H. N., Chen, X., & Wang, H.
- Affiliations
- Sun Yat-sen University (CN)
- Macau University of Science and Technology (MO)
- National University of Defense Technology (CN)
- Venue
- International Journal of Web and Grid Services
- Publisher
- Inderscience Publishers
- Published
- 2018
- Volume
- 14
- Issue
- 4
- Pages
- 352
- ISSN
- 1741-1106 (ISSN-L)
- 1741-1114
- OpenAlex
- W2897450989
- Cited by
- 3,651
- References
- 52
- Citations by year
- 2026: 235 · 2025: 453 · 2024: 569 · 2023: 618 · 2022: 494 · 2021: 493 · 2020: 425 · 2019: 294 · 2018: 65
- FWCI
- 513.79
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- International Journal of Web and Grid Services (publishedVersion)
- 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, decentralization (distributed systems), consensus algorithms, blockchain applications, cryptocurrency, financial services, risk management, Internet of Things, public services, technical challenges, auditability
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
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