LockTalk: A Basic Secure Chat Application

The blockchain technology has disrupted the earlyage digital banking through concepts like bitcoin and ether [1,3].In this study, some major elements of the blockchain technology are examined-decentralized networks, smart contracts, cryptographic techniques, and consensus mechanisms of Proof of Work and Proof of Stake usage-and understanding how they contribute to safe, peer-to-peer transactions without intermediaries [2,5].Bitcoin can do no more than about seven transactions a second (TPS) is a very paltry competition of an impressive 30 to 40 TPS of Ethereum.This depicts the ongoing scalability challenges that need to be tackled by initiatives linked with Ethereum 2.0 and the Lightning Network [4,9].While most industries, apart from banking, have effectively made their blockchain applications and transparency useful-Supply Chain Management, Healthcare, and DeFi-currently poses challenges of transaction speed limitations, the vagueness of regulations, and energy consumption by mining [8].Emerging trends include Non-Fungible Tokens (NFTs), Central Bank Digital Currencies (CBDCs), and privacy enhanced through zero-knowledge proofs.There is hope for excellent feedback on the future of the blockchain from these and other initiatives yet to come into reality.