Distributed Ledger Technologies and Their Applications: A Review
Source abstract
Abstract
With the success of Bitcoin and the introduction of different uses of Blockchain, such as smart contracts in Ethereum, many researchers and industries have turned their attention to applications that use this technology. In response to the advantages and disadvantages of Blockchain, similar technologies have emerged with alterations to the original structure. Distributed ledger technology (DLT) is a generalized distributed technology encompassing these new variants. Several studies have examined the challenges and applications of Blockchain technology. This article explores the possibilities of using different DLTs to solve traditional distributed computing problems based on their advantages and disadvantages. In this paper, we provide an overview and comparison of different DLTs, such as Hashgraph, Tangle, Blockchains, Side Chain and Holochain. The main objective of the article is to examine whether distributed ledger technologies can replace traditional computational methods in other areas instead of traditional methods. Based on the primary keywords, we conducted a systematic review of more than 200 articles. Based on the data extracted from articles related to the use of DLT, we conclude that that DLTs can complement other methods, but cannot completely replace them. Furthermore, several DLTs such as Sidechain, Holochain and Hashgraph are still in their infancy, and we foresee much research work in this area in the coming years.
Source: crossref · Quality: baseline
Research context
OpenAlex topics: Blockchain Technology Applications and Security · IoT and Edge/Fog Computing
SciVX discovery tags are terminology-based. OpenAlex topics are source-provided classifications.
Affiliations
Faculty of Computer Science, Dalhousie University, Halifax, NS B3H 1W5, Canada
TeleAI Corporation, Ottawa, ON K2E 7V7, Canada
Cistel Technology, Ottawa, ON K23 7V7, Canada
Funding
Natural Sciences and Engineering Research Council
References (100+)
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