International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 10 Issue: 05 | May 2023
p-ISSN: 2395-0072
www.irjet.net
"Unravelling the Challenges: A Deep Dive into the Problems of Blockchain Technology" Dr. Gopal Pardesi1, Diksha Pardeshi2 Associate Professor, Dept. of Information Technology, Thadomal Sahani College of Engineering, Maharashtra, India Final-year B.E.-IT, Shree L.R. Tiwari College of Engineering, Maharashtra, India ---------------------------------------------------------------------***---------------------------------------------------------------------decision problems in 14 blockchain systems from four Abstract - Blockchain technology has grown in
application domains. Based on academic literature, semistructured interviews with representatives from those organizations, and content analysis of grey literature, common problems in blockchain governance have been singled out and contextualized.[1]
popularity in recent years as a viable solution to a variety of challenges in numerous sectors. It has improved transparency, security, and efficiency in a variety of applications, including banking, healthcare, supply chain management, and voting systems. However, the adoption of blockchain technology is fraught with difficulties and constraints. This research paper provides an in-depth examination of the issues surrounding blockchain technology, including scalability, security, interoperability, legislation, governance, and environmental effect. We investigate the underlying causes of these challenges, as well as the current status of research and potential remedies.
Recorded healthcare data by using electronic health record (EHR) can be shared with numerous medical management units, hospitals, health centres, laboratory for identification of disease. Regardless of sharing data, it is vulnerable because it could be tempered or harmed as security and privacy have not been promised. In current time, it is shown that medical data is using cloud for storage, but there is also security, privacy and trust which has not been guaranteed. Therefore, researchers have come up with the solution known as blockchain technology to preserve data. By integrating cloud with this technology, data becomes invulnerable. As matter of fact, blockchain-based cloud technology can resolve lot of issues concerning healthcare industry.[3]
Key words: Blockchain scalability, Transaction throughput, Confirmation time, Network congestion, Interoperability, Network latency, Consensus algorithms, Smart contract vulnerabilities.
I INTRODUCTION
In the past few years block chain has gained lot of popularity because blockchain is the core technology of bitcoin. Its utilization cases are growing in number of fields such as security of Internet of Things (IoT), banking sector, industries and medical centres. Moreover, IoT has expanded its acceptance because of its deployment in smart homes and city developments round the world. Unfortunately, IoT network devices operate on limited computing power with low storage capacity and network bandwidth. Thus, they are extra close to attacks than other end-point devices such as cell phones, tablets, or PCs. This paper focus on addressing significant security issues of IoT and maps IoT security issues in contradiction of existing solutions found in the literature. Moreover, issues that are not solved after implementation of blockchain are highlighted.[4]
Blockchain technology is a distributed ledger system that enables safe and transparent transactions without the use of middlemen. It is frequently connected with cryptocurrencies like Bitcoin and Ethereum, although its uses extend well beyond digital currency. By boosting trust, efficiency, and transparency, blockchain technology has the potential to revolutionise many sectors. However, the adoption of blockchain technology is fraught with difficulties and constraints. We intend to present a complete assessment of the challenges connected with blockchain technology, their basic causes, and potential solutions to these concerns in this research study.
II LITERATURE SURVEY Blockchain comes with the promise of being a disruptive technology with the potential for novel ways of interaction in a wide range of applications. Following broader application, scholarly interest in the technology is growing, though an extensive analysis of blockchain applications from a governance perspective is lacking to date. This research pays special attention to the governance of blockchain systems and illustrates
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III Problems with Blockchain Technology Although blockchain technology has several potential benefits such as decentralization, security, transparency, and immutability, it also faces some significant challenges. Some of the major problems with blockchain technology include:
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