Where Is Current Research on Blockchain Technology?—A Systematic Review

Where Is Current Research on Blockchain Technology?—A Systematic Review

October 3, 2016 | Jesse Yli-Huumo, Deokyoon Ko, Sujin Choi, Sooyong Park, Kari Smolander
This systematic review explores current research on blockchain technology, focusing on its technical challenges and limitations. The study analyzed 41 primary papers from scientific databases, revealing that over 80% of the research focuses on Bitcoin, while less than 20% addresses other blockchain applications such as smart contracts and licensing. The majority of research focuses on improving blockchain's privacy and security, but many proposed solutions lack concrete evaluations. Blockchain scalability challenges, including throughput and latency, remain understudied. The study identifies key technical challenges such as throughput, latency, size and bandwidth, security, wasted resources, usability, versioning, hard forks, and multiple chains. It also highlights the importance of privacy in blockchain, with 24% of the papers addressing privacy issues and countermeasures. The study recommends future research directions to address these challenges and improve blockchain technology. The research also discusses the usability of blockchain, noting that Bitcoin's API is difficult to use, and suggests solutions for improving user experience. The study concludes that blockchain has the potential to change the way transactions are conducted in everyday life, but it still faces technical limitations that need to be addressed.This systematic review explores current research on blockchain technology, focusing on its technical challenges and limitations. The study analyzed 41 primary papers from scientific databases, revealing that over 80% of the research focuses on Bitcoin, while less than 20% addresses other blockchain applications such as smart contracts and licensing. The majority of research focuses on improving blockchain's privacy and security, but many proposed solutions lack concrete evaluations. Blockchain scalability challenges, including throughput and latency, remain understudied. The study identifies key technical challenges such as throughput, latency, size and bandwidth, security, wasted resources, usability, versioning, hard forks, and multiple chains. It also highlights the importance of privacy in blockchain, with 24% of the papers addressing privacy issues and countermeasures. The study recommends future research directions to address these challenges and improve blockchain technology. The research also discusses the usability of blockchain, noting that Bitcoin's API is difficult to use, and suggests solutions for improving user experience. The study concludes that blockchain has the potential to change the way transactions are conducted in everyday life, but it still faces technical limitations that need to be addressed.
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