2Blockchain Technology: Insight into Future
Amit Kumar Tyagi1*, Shabnam Kumari2 and Tanuj Surve3
1Department of Fashion Technology, National Institute of Fashion Technology, New Delhi, India
2Department of Computer Science, Faculty of Science and Humanities, SRM Institute of Science and Technology, Kattankulathur, Chennai, Tamil Nadu, India
3University of California, Berkeley, California, USA
Abstract
The use and use of blockchain technologies have grown substantially within the last decade. Our discussion of blockchain technology’s transformative potential is included in this chapter. We begin with a brief overview of blockchain before diving into its features and how they contribute to the development of Web 3 and the next decentralized internet. Current uses of blockchain technology demonstrate its adaptability; they range from digital currency and smart contracts to healthcare and supply chain monitoring enhancements. The benefits, like as decentralization and transparency, are countered by the drawbacks, with scalability and privacy issues taking the stage. Practical examples show how blockchain technology is being used, and unanswered issues show that the industry is serious about making ethical breakthroughs. This chapter gives a thorough outline of the ever-changing trajectory of blockchain technology, offering a glimpse into its development and its potential to impact many different industries.
Keywords: Blockchain technology, distributed ledger technology, smart contract, ...
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