Exploring the expediency of blockchain-based solutions: Review and challenges

Francisco Javier MORENO ARBOLEDA


Universidad Nacional de Colombia (Colombia)
https://orcid.org/0000-0001-7806-6278

Georgia GARANI

garani@uth.gr
University of Thessaly (Greece)
https://orcid.org/0000-0003-1892-4183

Sergio Andrés ARBOLEDA ZULUAGA


Universidad Nacional de Colombia (Colombia)
https://orcid.org/0009-0008-7560-6345

Abstract

A distributed type of database where digital data is stored as blocks chained together is called a Blockchain. Each block consists of several transactions, authenticated using cryptographic keys, and approved by a group of validators. Hundreds of different Blockchain solutions have been proposed over the years, proving that they attract research and business interest. In this article, the authors present a generic vocabulary for unifying different terminologies used by various researchers in the field, followed by a review and evaluation of several research works presenting Blockchain-based solutions. A set of criteria regarding usefulness and suitability of adopting a Blockchain application are distinguished in these works. A method to examine their applicability is also discussed. Cryptocurrencies and supply chains, the two most well-known Blockchain uses, are considered and examined to assess how important these criteria are in these two use cases.


Keywords:

blockchain, cryptocurrency, database, transaction, database application

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Published
2024-12-31

Cited by

MORENO ARBOLEDA, F. J., GARANI, G., & ARBOLEDA ZULUAGA , S. A. (2024). Exploring the expediency of blockchain-based solutions: Review and challenges. Applied Computer Science, 20(4), 149–174. https://doi.org/10.35784/acs-2024-45

Authors

Francisco Javier MORENO ARBOLEDA 

Universidad Nacional de Colombia Colombia
https://orcid.org/0000-0001-7806-6278

Authors

Georgia GARANI 
garani@uth.gr
University of Thessaly Greece
https://orcid.org/0000-0003-1892-4183

Authors

Sergio Andrés ARBOLEDA ZULUAGA  

Universidad Nacional de Colombia Colombia
https://orcid.org/0009-0008-7560-6345

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