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Blockchain: Emerging Trends, Applications, and Challenges

Blockchain: Emerging Trends, Applications, and Challenges
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Author(s): Taskeen Zaidi (Jain University (Deemed), India)
Copyright: 2022
Pages: 15
Source title: Blockchain Technology and Computational Excellence for Society 5.0
Source Author(s)/Editor(s): Shahnawaz Khan (University College of Bahrain, Bahrain), Mohammad Haider Syed (Saudi Electronic University, Saudi Arabia), Rawad Hammad (University of East London, UK)and Aisha Fouad Bushager (University of Bahrain, Bahrain)
DOI: 10.4018/978-1-7998-8382-1.ch009

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Abstract

A blockchain is a specific database stored in an electronic form. The databases stored in a block are put in a chain. When new data is added, it will be put in a new block. The blockchain may be created for storing different kind of information in which the most popular use of blockchain is ledger for transactions. Anything of value can be put in a blockchain, and this will reduce risk factors and cost. The blockchain is a chain of blocks used to store public databases. The blockchain can be a powerful tool in business applications for sharing and updating data. The blockchain may be used for the business process for handling transaction-related problems in an effective manner. The blockchain is also helpful in developing an ecosystem between various stakeholders. The policies, benefits, and cost are serious risk factors.

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