What will the future of blockchain technology be like by 2025?

Blockchain is a digital record of transactions. Its name comes from its structure, where each record (called a block) is linked together to form a list (called a sequence). They are used to maintain transaction records using cryptocurrencies such as Bitcoin and have many other applications. It is essentially a digital form of ledger, distributed and replicated throughout the entire computer system network. This must be understood as distributed ledger technology.

In this distributed model, storage and computation are shared by member users or nodes connected to the peer-to-peer network. It has been proposed that distributed models support blockchain based ledgers, also known as distributed ledger technology (DLT) or systems (DLS), which can provide higher service availability at lower costs for certain types of commercial and enterprise applications.

For example, property transfer ownership ledger, transaction ledger, digital currency ledger, etc. DLT provides higher service availability and resilience for various digital services under appropriate conditions. This distributed nature provides some advantages and creates many opportunities.

However, this highly dispersed nature also brings significant challenges and major research questions. It is very important to carefully study the advantages, disadvantages, and risks of DLS to ensure that the system is correctly implemented before it is used by the public, commercial, and industrial sectors. It is…