IEEE Consumer Electronics Magazine - July 2018 - 14

Scalability

High Latency

Blockchain Challenges
Fake Block
Generation

Energy
Consumption

FIGURE 9. Some challenges of the blockchain.

consumption for each bitcoin transaction is equivalent to 80,000
times the energy consumption of processing a credit card. These
challenges are shown in Figure 9.

CONCLUSION
The blockchain is used globally for securing P2P infrastructure with decentralization. This article presented a comprehensive review of the blockchain by highlighting the working
model of blockchain and subsequently presenting the system
features. Consensus algorithms were described with different
applications and use cases. Finally, this article concluded
with a presentation of different security challenges.

ABOUT THE AUTHORS
Deepak Puthal (deepak.puthal@uts.edu.au) is a lecturer (assistant professor) in the Faculty of Engineering and Information
Technology, University of Technology Sydney, Australia. He is
an author of more than 45 peer-reviewed research articles.
Nisha Malik (nisha.malik@student.uts.edu.au) is a Ph.D.
student in the Faculty of Engineering and Information Technology, University of Technology Sydney, Australia.
Saraju P. Mohanty (saraju.mohanty@unt.edu) is a professor at the University of North Texas, Denton. His research is
in smart electronic systems. He is an author of 250 research
articles and three books.
Elias Kougianos (eliask@unt.edu) is a professor in engineering technology at the University of North Texas, Denton.
He is the author or coauthor of more than 120 peer-reviewed
journal and conference publications.
Gautam Das (gdas@cse.uta.edu) is Endowed Chair Professor in Computer Science and Engineering at the University
of Texas, Arlington. He is the author of more than 250 peerreviewed journal and conference publications.

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Table of Contents for the Digital Edition of IEEE Consumer Electronics Magazine - July 2018