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An Empirical Review on Blockchain Smart Contracts: Application and Challenges in Implementation


Affiliations
1 Department of Information Technology, Institute of Engineering and Technology, Devi Ahilya Vishwavidyalaya, Indore, India
 

This paper focuses on an extensive review of Blockchain Smart contract applications in real-world scenarios and challenges in it. As in today’s world, Blockchain has got tremendous importance in different types of services, so it will be beneficial to analyze the loopholes in the cybersecurity aspect as well as other technical issues in privacy and governance. A smart contract is the software code that comprises a self-executed set of rules and regulations that runs on Blockchain. To implement various real-world services over different decentralized platforms, a lot of research work is going on. In this paper, a detailed review is done on more than 100 latest published documents based on the Blockchain Smart contract and applications. By following the systematic mapping research methodology first, we have identified paper relevant to our research domain, and then by applying various filters, we extracted relevant information. At last, the article highlighted the challenges and research gaps that have to be addressed in the future.

Keywords

Smart Contracts, Blockchain, Consensus, IoT, Bitcoins, Cryptocurrency.
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  • An Empirical Review on Blockchain Smart Contracts: Application and Challenges in Implementation

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Authors

Jasvant Mandloi
Department of Information Technology, Institute of Engineering and Technology, Devi Ahilya Vishwavidyalaya, Indore, India
Pratosh Bansal
Department of Information Technology, Institute of Engineering and Technology, Devi Ahilya Vishwavidyalaya, Indore, India

Abstract


This paper focuses on an extensive review of Blockchain Smart contract applications in real-world scenarios and challenges in it. As in today’s world, Blockchain has got tremendous importance in different types of services, so it will be beneficial to analyze the loopholes in the cybersecurity aspect as well as other technical issues in privacy and governance. A smart contract is the software code that comprises a self-executed set of rules and regulations that runs on Blockchain. To implement various real-world services over different decentralized platforms, a lot of research work is going on. In this paper, a detailed review is done on more than 100 latest published documents based on the Blockchain Smart contract and applications. By following the systematic mapping research methodology first, we have identified paper relevant to our research domain, and then by applying various filters, we extracted relevant information. At last, the article highlighted the challenges and research gaps that have to be addressed in the future.

Keywords


Smart Contracts, Blockchain, Consensus, IoT, Bitcoins, Cryptocurrency.

References





DOI: https://doi.org/10.22247/ijcna%2F2020%2F195718