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A Decade of Blockchain: Review of the Current Status, Challenges, and Future Directions
Volume 30, Issue 4 (2019), pp. 729–748
Pub. online: 1 January 2019      Type: Research Article      Open accessOpen Access
Received
1 June 2019
Accepted
1 December 2019
Published
1 January 2019

Abstract

In this paper, we present the progress of blockchain technology from the advent of the original publication titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” written by the mysterious Satoshi Nakamoto, until the current days. Historical background and a comprehensive overview of the blockchain technology are given. We provide an up-to-date comparison of the most popular blockchain platforms with particular emphasis given to consensus protocols. Additionally, we introduce a BlockLib, an extensively growing online library on blockchain platforms collected from the various sources and designed to enable contributions from the blockchain community. Main directions of the current blockchain research, facing challenges as well as the main fields of applications, are summarized. We also layout the possible future lines in the blockchain technology development.

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Biographies

Paulavičius Remigijus
remigijus.paulavicius@mif.vu.lt

R. Paulavičius is a senior researcher and head of the Blockchain Group at the Institute of Data Science and Digital Technologies, Vilnius University, Lithuania. His research interests include blockchain technology, optimization software, parallel computing, development and application of various operation research techniques.

Grigaitis Saulius
saulius.grigaitis@mif.vu.lt

S. Grigaitis is a partnership associate professor at Vilnius University, a member of the Blockchain Group in the Institute of Data Science and Digital Technologies, and an experienced industry professional. His research interests focus on blockchain technologies, large-scale distributed systems and artificial intelligence.

Igumenov Aleksandr
aleksandr.igumenov@mif.vu.lt

A. Igumenov is a lecturer at the Faculty of Mathematics and Informatics, Vilnius University, Lithuania. Received the doctoral degree in informatics engineering from the Vilnius University in 2012. His main research interests include blockchain technologies, global optimization, high-performance and parallel computing, IoT and internet technologies.

Filatovas Ernestas
ernestas.filatovas@mif.vu.lt

E. Filatovas is a senior researcher and co-founder the Blockchain Group at the Institute of Data Science and Digital Technologies, Vilnius University, Lithuania. His main research interests include blockchain technologies, global and multi-objective optimization, evolutionary algorithms, high-performance computing, artificial intelligence, and image processing.


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Keywords
blockchain Distributed Ledger Technology (DLT) Bitcoin blockchain platforms consensus protocols cryptocurrencies

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