SURVEY OF RECENT TRENDS IN BLOCKCHAIN TECHNOLOGY

Abstract

The technology has reached such level that the modern Internet deals with assets of real life. People want everything in a smart way. Nowadays, there is no longer any doubt about a digital world. This will be a world of AI, robots will replace human completely in the work force. A world of smart houses, smart cities, smart countries, where everything has the ability to connect to the internet (IoT), bringing the real and digital world closer together. Along with other advanced technologies (AI, AR/VR, IoT), Blockchain technology has established a way to digitize all of our activities through cloud based development. Blockchain is a shared public ledger, and it includes all transactions which are confirmed. It is almost impossible to crack the hidden information in the blocks of the Blockchain. However, there are certain security and technical challenges like scalability, privacy leakage, selfish mining, etc. which hampers the wide application of Blockchain. Blockchain is rapidly evolving to be the next disruptive innovation for secured connectivity, promising major changes to how we work and live in the coming century. This paper will highlight the important role of blockchain technology in the development of our future world and survey of recent trends in blockchain technology.