Block Chain-Based System: Applications and Challenges

Abstract

Internet of Things (IoT) is a prominent computer paradigm. In a wide range of applications, such as smart healthcare, smart grids, smart finance, and smart cities, it's increasingly being used to make human life more convenient. A wide range of difficulties, from scalability and interoperability to security and privacy, are faced by Internet of Things (IoT) applications. These issues have lately been alleviated by the development of block chain technologies. Smart contract innovation and improvement are now inseparable from the rapid development of block chain technology and industry around the world. The benefits of block chain technology (BT) include improved trust, collaboration, organization, identification, and legitimacy. While providing a transparent, immutable, and consistent data repository, block chains improve the quality of data, they also introduce new data management difficulties.