Distributed Ledger Technologies and Their Applications: A Review
With the success of Bitcoin and the introduction of different uses of Blockchain, such as smart contracts in Ethereum, many researchers and industries have turned their attention to applications that use this technology. In response to the advantages and disadvantages of Blockchain, similar technolo...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2022-08-01
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| Series: | Applied Sciences |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2076-3417/12/15/7898 |
| _version_ | 1797414530162098176 |
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| author | Reza Soltani Marzia Zaman Rohit Joshi Srinivas Sampalli |
| author_facet | Reza Soltani Marzia Zaman Rohit Joshi Srinivas Sampalli |
| author_sort | Reza Soltani |
| collection | DOAJ |
| description | With the success of Bitcoin and the introduction of different uses of Blockchain, such as smart contracts in Ethereum, many researchers and industries have turned their attention to applications that use this technology. In response to the advantages and disadvantages of Blockchain, similar technologies have emerged with alterations to the original structure. Distributed ledger technology (DLT) is a generalized distributed technology encompassing these new variants. Several studies have examined the challenges and applications of Blockchain technology. This article explores the possibilities of using different DLTs to solve traditional distributed computing problems based on their advantages and disadvantages. In this paper, we provide an overview and comparison of different DLTs, such as Hashgraph, Tangle, Blockchains, Side Chain and Holochain. The main objective of the article is to examine whether distributed ledger technologies can replace traditional computational methods in other areas instead of traditional methods. Based on the primary keywords, we conducted a systematic review of more than 200 articles. Based on the data extracted from articles related to the use of DLT, we conclude that that DLTs can complement other methods, but cannot completely replace them. Furthermore, several DLTs such as Sidechain, Holochain and Hashgraph are still in their infancy, and we foresee much research work in this area in the coming years. |
| first_indexed | 2024-03-09T05:34:38Z |
| format | Article |
| id | doaj.art-967dfbdce0c74fa28ff3c9e64d623442 |
| institution | Directory Open Access Journal |
| issn | 2076-3417 |
| language | English |
| last_indexed | 2024-03-09T05:34:38Z |
| publishDate | 2022-08-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Applied Sciences |
| spelling | doaj.art-967dfbdce0c74fa28ff3c9e64d6234422023-12-03T12:30:06ZengMDPI AGApplied Sciences2076-34172022-08-011215789810.3390/app12157898Distributed Ledger Technologies and Their Applications: A ReviewReza Soltani0Marzia Zaman1Rohit Joshi2Srinivas Sampalli3Faculty of Computer Science, Dalhousie University, Halifax, NS B3H 1W5, CanadaTeleAI Corporation, Ottawa, ON K2E 7V7, CanadaCistel Technology, Ottawa, ON K23 7V7, CanadaFaculty of Computer Science, Dalhousie University, Halifax, NS B3H 1W5, CanadaWith the success of Bitcoin and the introduction of different uses of Blockchain, such as smart contracts in Ethereum, many researchers and industries have turned their attention to applications that use this technology. In response to the advantages and disadvantages of Blockchain, similar technologies have emerged with alterations to the original structure. Distributed ledger technology (DLT) is a generalized distributed technology encompassing these new variants. Several studies have examined the challenges and applications of Blockchain technology. This article explores the possibilities of using different DLTs to solve traditional distributed computing problems based on their advantages and disadvantages. In this paper, we provide an overview and comparison of different DLTs, such as Hashgraph, Tangle, Blockchains, Side Chain and Holochain. The main objective of the article is to examine whether distributed ledger technologies can replace traditional computational methods in other areas instead of traditional methods. Based on the primary keywords, we conducted a systematic review of more than 200 articles. Based on the data extracted from articles related to the use of DLT, we conclude that that DLTs can complement other methods, but cannot completely replace them. Furthermore, several DLTs such as Sidechain, Holochain and Hashgraph are still in their infancy, and we foresee much research work in this area in the coming years.https://www.mdpi.com/2076-3417/12/15/7898blockchain technologydistributed ledger technology (DLT)applications of DLT |
| spellingShingle | Reza Soltani Marzia Zaman Rohit Joshi Srinivas Sampalli Distributed Ledger Technologies and Their Applications: A Review Applied Sciences blockchain technology distributed ledger technology (DLT) applications of DLT |
| title | Distributed Ledger Technologies and Their Applications: A Review |
| title_full | Distributed Ledger Technologies and Their Applications: A Review |
| title_fullStr | Distributed Ledger Technologies and Their Applications: A Review |
| title_full_unstemmed | Distributed Ledger Technologies and Their Applications: A Review |
| title_short | Distributed Ledger Technologies and Their Applications: A Review |
| title_sort | distributed ledger technologies and their applications a review |
| topic | blockchain technology distributed ledger technology (DLT) applications of DLT |
| url | https://www.mdpi.com/2076-3417/12/15/7898 |
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