Blockchain Technology: A Review of the Current Challenges of Cryptocurrency | SpringerLink
Skip to main content
Springer Nature Link
Log in

Blockchain Technology: A Review of the Current Challenges of Cryptocurrency

  • Conference paper
  • First Online:
Blockchain and Applications (BLOCKCHAIN 2019)

Part of the book series: Advances in Intelligent Systems and Computing ((AISC,volume 1010 ))

Included in the following conference series:

Abstract

As a result of the 2017 boom in the cryptocurrency market, some governments around the world have begun to work in the direction of regularizing and supervising digital currency. People have gained trust in the use of cryptocurrency thanks to the security of the blockchain technology and of their economic ecosystem. This paper reviews the challenges faced by five different cryptocurrencies with the highest market capitalization. Furthermore, we analyze the blockchain technology that underlies them.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution

Subscribe and save

Springer+ Basic
¥17,985 /Month
  • Get 10 units per month
  • Download Article/Chapter or eBook
  • 1 Unit = 1 Article or 1 Chapter
  • Cancel anytime
Subscribe now

Buy Now

Chapter
JPY 3498
Price includes VAT (Japan)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
JPY 11439
Price includes VAT (Japan)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
JPY 14299
Price includes VAT (Japan)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Similar content being viewed by others

References

  1. Nakamoto, S.: Bitcoin: a peer-to-peer electronic cash system. (2008)

    Google Scholar 

  2. Zheng, Z., et al.: An overview of blockchain technology: architecture, consensus, and future trends. In: 2017 IEEE International Congress on Big Data (BigData Congress). IEEE (2017)

    Google Scholar 

  3. Martinez, J.: Understanding proof of stake: the nothing at stake theory. https://medium.com/coinmonks/understanding-proof-of-stake-the-nothing-at-stake-theory-1f0d71bc027. Accessed 27 Jan 2019

  4. Witherspoon, Z.: A hitchhiker’s guide to consensus algorithms. https://hackernoon.com/a-hitchhikers-guide-to-consensus-algorithms-d81aae3eb0e3. Accessed 27 Jan 2019

  5. Casado-Vara, R., Corchado, J.M.: Blockchain for democratic voting: how blockchain could cast off voter fraud. Orient. J. Comp. Sci. Technol., 11(1) (2018)

    Article  Google Scholar 

  6. Parliamentary Secretariat for Financial Services (Digital Economy and Innovation, Prime Minister Office), Malta a Leader in DLT Regulation. https://www.fff-legal.com/wp-content/uploads/2018/02/FSDEI-DLT-Regulation-Document.pdf. Accessed 21 Jan 2019

  7. Mehar, M.I., et al.: Understanding a revolutionary and flawed grand experiment in blockchain: the DAO attack. J. Cases Inf. Technol. (JCIT) 21(1), 19–32 (2019)

    Article  Google Scholar 

  8. Buterin, V.: A next-generation smart contract and decentralized application platform. white paper (2014)

    Google Scholar 

  9. CoinMarketCap. https://coinmarketcap.com/. Accessed 16 Feb 2019

  10. Schwartz, D., Youngs, N., Britto, A.: The Ripple protocol consensus algorithm. Ripple Labs Inc White Paper 5 (2014)

    Google Scholar 

  11. Cox, T.: EOS.IO technical white paper. GitHub repository (2017)

    Google Scholar 

  12. Omni Layer. https://www.omnilayer.org. Accessed 30 Jan 2019

  13. Hawlitschek, F., Notheisen, B., Teubner, T.: The limits of trust-free systems: a literature review on blockchain technology and trust in the sharing economy. Electron. Commer. Res. Appl. 29, 50–63 (2018)

    Article  Google Scholar 

  14. Casado-Vara, R., González-Briones, A., Prieto, J., Corchado, J.M.: Smart contract for monitoring and control of logistics activities: pharmaceutical utilities case study. In: The 13th International Conference on Soft Computing Models in Industrial and Environmental Applications, pp. 509–517. Springer, Cham, June 2018

    Google Scholar 

  15. González-Briones, A., Valdeolmillos, D., Casado-Vara, R., Chamoso, P., Coria, J.A.G., Herrera-Viedma, E., Corchado, J.M.: Garbmas: simulation of the application of gamification techniques to increase the amount of recycled waste through a multi-agent system. In: International Symposium on Distributed Computing and Artificial Intelligence, pp. 332–343. Springer, Cham, June 2018

    Google Scholar 

  16. Casado-Vara, R., Chamoso, P., De la Prieta, F., Prieto, J., Corchado, J.M.: Non-linear adaptive closed-loop control system for improved efficiency in IoT-blockchain management. Inf. Fusion 49, 227–239 (2019)

    Article  Google Scholar 

  17. González-Briones, A., Castellanos-Garzón, J.A., Mezquita Martín, Y., Prieto, J., Corchado, J.M.: A framework for knowledge discovery from wireless sensor networks in rural environments: a crop irrigation systems case study. Wirel. Commun. Mob. Comput. (2018)

    Google Scholar 

  18. Casado-Vara, R., de la Prieta, F., Prieto, J., Corchado, J.M.: Blockchain framework for IoT data quality via edge computing. In: Proceedings of the 1st Workshop on Blockchain-enabled Networked Sensor Systems, pp. 19–24. ACM, November 2018

    Google Scholar 

  19. Casado-Vara, R., Prieto, J., De la Prieta, F., Corchado, J.M.: How blockchain improves the supply chain: Case study alimentary supply chain. Proc. Comput. Sci. 134, 393–398 (2018)

    Article  Google Scholar 

  20. Curran, B.: What are Oracles? Smart Contracts, Chainlink & “The Oracle Problem”. Accessed 15 Feb 2019

    Google Scholar 

  21. Kaiser, I.: A Decentralized Private Marketplace: DRAFT 0.1

    Google Scholar 

  22. Coinmetrics. https://coinmetrics.io. Accessed 20 Jan 2019

  23. Beikverdi, A., Song, J.S.: Trend of centralization in Bitcoin’s distributed network. In: 2015 IEEE/ACIS 16th International Conference on Software Engineering, Artificial Intelligence, Networking and Parallel/Distributed Computing (SNPD). IEEE (2015)

    Google Scholar 

  24. Knowledge@Wharton, How the Blockchain Will Impact the Financial Sector, 16 November 2018. http://knowledge.wharton.upenn.edu/article/blockchain-will-impact-financial-sector/. Accessed 23 Jan 2019

  25. Casado-Vara, R., Prieto, J., Corchado, J.M.: How blockchain could improve fraud detection in power distribution grid. In: The 13th International Conference on Soft Computing Models in Industrial and Environmental Applications, pp. 67–76. Springer, Cham, June 2018

    MATH  Google Scholar 

  26. Bryck, A.: Blockchain attack vectors: vulnerabilities of the most secure technology. https://www.apriorit.com/dev-blog/578-blockchain-attack-vectors. Accessed: 26 Mar 2019

Download references

Acknowledgements

This work was developed as part of “Virtual-Ledger-Tecnologies DLT/Blockchain y Cripto-IOT sobre organizaciones virtuales de agentes ligeros y su aplicación en la eficiencia en el transporte de última milla”, ID SA267P18, project cofinanced by Junta Castilla y León, Consejería de Educación, and FEDER funds. The research of Yeray Mezquita is supported by the pre-doctoral fellowship from the University of Salamanca and Banco Santander.

Author information

Authors and Affiliations

  1. BISITE Research Group, University of Salamanca, Calle Espejo 2, 37007, Salamanca, Spain

    Diego Valdeolmillos, Yeray Mezquita, Alfonso González-Briones, Javier Prieto & Juan Manuel Corchado

  2. Air Institute, IoT Digital Innovation Hub (Spain), 37188, Carbajosa de la Sagrada, Spain

    Alfonso González-Briones & Juan Manuel Corchado

  3. Department of Electronics, Information and Communication, Faculty of Engineering, Osaka Institute of Technology, Osaka, 535-8585, Japan

    Juan Manuel Corchado

  4. Pusat Komputeran dan Informatik, Universiti Malaysia Kelantan, Karung Berkunci 36, Pengkaan Chepa, 16100, Kota Bharu, Kelantan, Malaysia

    Juan Manuel Corchado

Authors
  1. Diego Valdeolmillos
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Yeray Mezquita
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Alfonso González-Briones
    View author publications

    You can also search for this author in PubMed Google Scholar

  4. Javier Prieto
    View author publications

    You can also search for this author in PubMed Google Scholar

  5. Juan Manuel Corchado
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding authors

Correspondence to Yeray Mezquita , Alfonso González-Briones , Javier Prieto or Juan Manuel Corchado .

Editor information

Editors and Affiliations

  1. BISITE Research Group, Salamanca, Salamanca, Spain

    Javier Prieto

  2. International Institute of Information Technology, Gachibowli, Hyderabad, India

    Ashok Kumar Das

  3. Dipartimento di Informatica - Scienza e Ingegneria , University of Bologna, Bologna, Italy

    Stefano Ferretti

  4. Politecnico do Porto and INESC TEC , Porto, Portugal

    António Pinto

  5. BISITE Digital Innovation Hub, University of Salamanca, AIR Institute - Deep Tech Lab , Salamanca, Salamanca, Spain

    Juan Manuel Corchado

Rights and permissions

Reprints and permissions

Copyright information

© 2020 Springer Nature Switzerland AG

About this paper

Check for updates. Verify currency and authenticity via CrossMark

Cite this paper

Valdeolmillos, D., Mezquita, Y., González-Briones, A., Prieto, J., Corchado, J.M. (2020). Blockchain Technology: A Review of the Current Challenges of Cryptocurrency. In: Prieto, J., Das, A., Ferretti, S., Pinto, A., Corchado, J. (eds) Blockchain and Applications. BLOCKCHAIN 2019. Advances in Intelligent Systems and Computing, vol 1010 . Springer, Cham. https://doi.org/10.1007/978-3-030-23813-1_19

Download citation

Publish with us

Policies and ethics

Search

Navigation