The Challenges of Existence, Status, and Value for Improving Blockchain

Fei Lin, Minqian Qiang
2019 IEEE Access  
Blockchain is defined as a distributed ledger technology that can implement financial models. An improved blockchain provides a democratic virtual economic system (DVES) that can verify payments, reach consensus, and store encrypted data in virtual economic systems. In this paper, we review the latest progress and possibilities in improved blockchain with respect to openness, data security, and scalability. This paper outlines the challenges of value, existence, and status (VES) and the
more » ... -the-art solutions for improved blockchain. Then, this paper discusses the VES in terms of distributed energy, ownership certification, infrastructure, and other fields. More importantly, it analyzed the importance of scale out, which can be a key enabler to solve the main practical problems in constructing DVES. INDEX TERMS Improved blockchain, DVES, scale out, tiered.
doi:10.1109/access.2018.2888697 fatcat:wd6fwoejnvfsfamdzthpf2hi44