Blockchain and Smart Contracts: Challenges, Applications, Architecture and Future Trends

Applications in the field of blockchain and cryptocurrencies have gradually expanded as a result of a significant rise in the acceptability of blockchain over the past 10 years. Blockchain-related smart contracts have opened up new avenues for creativity and technical advancement. IoT, management, financial services, the digital economy, and the intelligence sectors all can bring use of smart contracts in various ways. Well-known blockchain-based development platforms like Ethereum and Hyper ledger have also adopted smart contracts. Since smart contracts are still in their early stages of development, serious technical issues including privacy and security concerns need to be looked into further. In this article, we concentrate on giving readers a glimpse inside the blockchain industry while also attempting to further the potential of smart contracts through our study. Additionally, we explore the obstacles to this field's advancement and present some architectural breakthroughs for smart contracts. Overall, we give a survey on the potential uses and difficulties of blockchain technology and smart contracts.