Research Article

The Improvement needs in Blockchain Technology

Number: 29 December 1, 2021
TR EN

The Improvement needs in Blockchain Technology

Abstract

Bitcoin's attack in finance has caused a new wind to blow in the stock market and with the emergence of many new crypto currencies, the crypto currency market has become a new financial area. Although Blockchain technology is the technological infrastructure of Bitcoin, awareness is not as high as Bitcoin. Despite it was found in 1992, its first use was in the shadow of Bitcoin, influenced by the fact that it was with Bitcoin in 2008. However, due to the features that it provides; Without Blockchain technology, the Bitcoin system would not work. As the dazzling offer of Bitcoin; through the decentralized structure, buyers and sellers can meet directly on a platform and make their purchases securely, without involvement of any third party. Verification in the system can only be done by approving by more than 50% of the participants. Thus, besides of no need for a central authority, it became almost impossible for any cyber attack to be successful. The continued success of Blockchain technology is vital for Bitcoin and other cryptographic currencies survival. Beside of all these advantages, there are some issues that need to be addressed for Blockchain technology. These can be listed as throughput, latency in processing, size and bandwidth, some security vulnerabilities, resource waste for adding a new block to chains, usability, and privacy. In this article, we will discuss these issues that need to be addressed for Blockchain technology.

Keywords

References

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Details

Primary Language

English

Subjects

Engineering

Journal Section

Research Article

Publication Date

December 1, 2021

Submission Date

October 14, 2021

Acceptance Date

December 7, 2021

Published in Issue

Year 2021 Number: 29

APA
Mendi, A. F. (2021). The Improvement needs in Blockchain Technology. Avrupa Bilim Ve Teknoloji Dergisi, 29, 6-10. https://doi.org/10.31590/ejosat.1009560
AMA
1.Mendi AF. The Improvement needs in Blockchain Technology. EJOSAT. 2021;(29):6-10. doi:10.31590/ejosat.1009560
Chicago
Mendi, Arif Furkan. 2021. “The Improvement Needs in Blockchain Technology”. Avrupa Bilim Ve Teknoloji Dergisi, nos. 29: 6-10. https://doi.org/10.31590/ejosat.1009560.
EndNote
Mendi AF (December 1, 2021) The Improvement needs in Blockchain Technology. Avrupa Bilim ve Teknoloji Dergisi 29 6–10.
IEEE
[1]A. F. Mendi, “The Improvement needs in Blockchain Technology”, EJOSAT, no. 29, pp. 6–10, Dec. 2021, doi: 10.31590/ejosat.1009560.
ISNAD
Mendi, Arif Furkan. “The Improvement Needs in Blockchain Technology”. Avrupa Bilim ve Teknoloji Dergisi. 29 (December 1, 2021): 6-10. https://doi.org/10.31590/ejosat.1009560.
JAMA
1.Mendi AF. The Improvement needs in Blockchain Technology. EJOSAT. 2021;:6–10.
MLA
Mendi, Arif Furkan. “The Improvement Needs in Blockchain Technology”. Avrupa Bilim Ve Teknoloji Dergisi, no. 29, Dec. 2021, pp. 6-10, doi:10.31590/ejosat.1009560.
Vancouver
1.Arif Furkan Mendi. The Improvement needs in Blockchain Technology. EJOSAT. 2021 Dec. 1;(29):6-10. doi:10.31590/ejosat.1009560

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