Academic institutions all around the world are turning to blockchain technology to handle large amounts of research data. As per Fortunly, the financial institutions have spent around $552 million on different projects powered by blockchain. It was first launched in 2008, and since then, it has developed and transformed a lot.
Different universities are expanding their technological horizon by combining the analytical powers of AI with blockchain capabilities. It has set a precedent for how technology can be harnessed in academic institutions for good. College and university students feel motivated to put efforts into blockchain research.
In this article, we shall explore the top 7 steps that can help students conduct their research on blockchain most effectively. We shall also see the application from an academic perspective of such research knowledge to real-world examples and scenarios.
Let’s dive deeper into the details.
How to Conduct Research on Blockchain? 7 Important Steps
For research colleges and universities, blockchain adoption has improved the chances for improved data integrity, enhanced security and the ease of collaboration across different institutions. It is especially beneficial for scientific research where the authenticity and reliability of data are paramount.
To write an assignment on blockchain research, students need to grasp the topic. If they need help across this domain, they can hire a UK-based assignment writing service for timely assistance. Professional writers are better equipped to conduct academic research than inexperienced students.
Now, here we are about to discuss the top seven steps for conducting blockchain research. Let’s get started.
- Define Your Research Questions
The very first step in conducting research on blockchain involves the identification of specific research questions or problems that need to be solved. It is a vast field, hence, focusing on a niche area can become quite challenging for students. However, when you have the right research questions for your work, it can become quite manageable and easy.
For success, you should ensure to search some of the trendy research questions. Here are the top best questions that you can consider for your work:
- What are the main security threats and risks associated with the decentralised platforms of finance?
- How does the blockchain affect data privacy in the domain of healthcare?
- Blockchain can also improve the transparency of the research supply chain. Explain how?
Depending on your topic for academic research, you can even craft more research questions that suit the aim of your work. A clear and concise research question can guide your overall research and help you stay focused. When deciding the research question, you should consider the scope of your topic and see if you should explore the technical aspects of the research work.
Some guidelines to follow for crafting excellent research questions are mentioned here:
- Start by exploring a general topic idea and then refine it as a focused question.
- Analyse the existing literature to find areas where the knowledge is lacking.
- Use clear and simple language, and try to reduce vagueness in your work.
- The question you choose should be able to get the detailed answers.
- Ensure that your research question aligns well with your field of study.
- Talk to your supervisor about getting insights into a possible research question that aims to address all the objectives
These tips can help you craft some focused and improved research questions. You can even ask for more guidelines from your professor. They may guide you better in this domain.
- Pick Your Research Method
The next step is to pick the right research method for you. This is all about the research approach or strategy you will use to collect and analyse the research data. Depending on your topic and discipline, you can use the following methods for blockchain research:
- Quantitative method
- Mixed methods
- Qualitative method
For instance, you can use simulations, interviews, case studies and experiments of content analysis papers for the research. Keep in mind the ethical or practical research implications of the research methods that you use. It should have the features for reliability, validity, access and privacy. Students will have to test the hypotheses, conduct in-depth interviews with potential and current clients and analyse the smart contracts of competitors.
In case you are unsure about what research methodology you should go for when it comes to conducting research for blockchain, here are the guidelines that you can follow:
- Assemble at least 30 recent assignments from your program and review all the submission guidelines.
- If your research advisor has crafted such assignments, check out the samples written by them.
- Review all these papers and make a table that mentions each piece of work’s methodology, purpose statement, and research questions.
- You should continue to do the extensive literature search and read the extensive papers to see what methodologies were used by the authors.
All these steps can help you choose the methodology that is suitable for your research work on blockchain. You must remember that choosing the right research method is important if you want to be successful.
- Review the Existing Literature
When researching the blockchain, it’s important to review both industry and academic literature deeply. It can provide you with the theoretical framework and in-depth insight into the workings of blockchain technology.
The industry reports may help you understand the ways to apply technology in real-world scenarios. You can start by reviewing the most recent blockchain papers and articles already published in the journals.
If you are unsure of the ways to conduct a systematic literature review, the following guidelines can help you a lot:
- Firstly, you have to introduce the readers to a specific area of interest.
- Then, make it your duty to organise all the sources thematically; you will have to start from the broader themes and come down to the narrower ones.
- Ensure to introduce the key theories linked with the right study area.
- Know that it is essential to define your understanding of all the important terms used in research.
- Identify gaps in the existing research.
- Use only the sources that are linked to your research work in the most direct way.
- Avoid adding vague information in the literature review section.
You can also review success stories, case studies and other challenges that the blockchain adopters face. Examining the papers released by blockchain initiatives and projects can be further helpful. You will get detailed descriptions of how the blockchain solutions are implemented and built-in different sectors.
- Evaluate the Market Trends
It is important to know all the market trends in blockchain to gather relevant industry information. You should actively research all the resources to get reliable and authentic information. Some of the main sources that you can check, according to Blockchain News, are the following:
Market Capitalisation: It refers to a higher cap for the market, and it is usually an indicator of the credibility of a project.
Community Support: A strong and impactful community supports a successful project. The community’s sentiment should be revealed by the platforms like Twitter, Telegram and Discord.
Adoption Rate: The projects where cases and partnerships are widespread will be more likely to succeed.
Keep in mind that it’s not only about the cryptocurrency. The usage of blockchain technology is also in the fields of finance, healthcare, supply chain and gaming. Depending on the niche you are working on, you can explore further market trends to upscale your research. You can also ask your supervisor if there is anything that they can suggest for research. They might have more ideas than you when it comes to blockchain research.
- Gather Enough Sources
For successful blockchain research, you need access to up-to-date and reliable resources. The sources that you use must be credible and authentic enough for you. Some of the legit sources that you can use for researching blockchain for academic assignments are the following:
- Books
The books can also have comprehensive resources for you that assess blockchain research’s potential impact on the industries. Reading such books can help you improve your understanding of the research topic on blockchain and related technology.
- Academic Journals
Different online platforms like IEEE Xplore, SpringerLink and Google Scholar provide access to detailed research on the theoretical concepts in the field. You can also get familiar with several blockchain topics and dive into the details of the latest advancements.
- Online Courses and Bootcamps
Online learning platforms such as Udemy, Metana, Coursera and edX provide expert courses and boot camps on the blockchain. Such courses and programs cater to the needs of the beginners and advanced learners. They also help them understand the hands-on projects and certifications.
- Industry Reports
The reports from Deloitte, IBM, PwC or more can have the market analyses and case studies you need for studying blockchain applications. It helps researchers understand real-world implementations and future trends. By utilising these resources, you can get both theoretical and practical insight into the blockchain technology.
- Conduct Your Blockchain Research
Academic blockchain research is not only about the comprehension of theoretical concepts. It is also about examining how you can use the blockchain in practice. One way to do this is by conducting case studies on existing blockchain projects or by implementing different theories.
Such case studies provide insights into the real-world effects of blockchain technology and help people know more about the challenges and solutions associated with the research work.
Some of the main concerns associated with the blockchain academic research are the following:
- Scalability issues
- Regulatory concerns
- Security threats
- Interoperability
For the research, you must find a balanced approach to work that combines both the theoretical understanding and practical impacts of work. You can also consider hands-on experimentation and critical analysis for conducting research.
Here are some of the most important rules to follow:
- Go for a topic that interests you.
- Thoroughly review the existing literature on the topic of blockchain research.
- You should also work on crafting clear research questions.
- Work on carefully evaluating all the sources for blockchain research and use appropriate research methods.
- It will also be helpful to properly document all the research findings and make notes when you are moving further with the research.
- Always consult your academic supervisor if you feel confused about the research needs.
These tips and guidelines can help you conduct adequate research on blockchain and help students fulfil their academic needs. If your department in school has given some guidelines, you should also be sure to follow them when working on your papers.
- Experiment and Try Prototyping
To better understand how blockchain works, you should consider making your own blockchain prototype. You can do so while utilising the blockchain platforms that exist already. The development platforms such as Hyperledger, Ethereum and Solana offer different environments where developers can make smart contracts and decentralised applications.
This kind of hands-on experimentation will expand your knowledge and make you better aware of how blockchain transactions work. You will also be able to know how the consensus mechanism works and the right ways to maintain the blockchain networks.
You can later apply all this knowledge when writing your assignment on blockchain research methods. According to 101 Blockchains, the way to follow for a blockchain researcher is the following:
- Start by learning the fundamentals of the blockchain.
- Make yourself familiar with the programming of the blockchains.
- Researchers should know blockchain platforms and tools.
- You can also enrol yourself in a professional training course in the blockchain.
- Get the relevant certifications to hone all your skills.
- Utilise professional networking to get resources when it comes to experimentation and prototyping.
Know that your academic advisor and supervisor will be there to assist you when you are stuck with the experimentation. You should promptly ask them for help.
Blockchain Research Examples
If you were looking for some real-world examples where blockchain technology is applied, here are some of them:
- Using Blockchain for Global Payroll System
- Secure financial transactions for mobile
- E-voting systems
- Document distribution by the government
What Is a Blockchain Academic Article?
Basically, a blockchain academic article is a research paper published in a peer-reviewed journal that focuses on the technical applications, aspects and potential benefits of blockchain technology.
It can be used to explore the underlying principles, consensus mechanisms and other security features. You can also assess the potential impact of blockchain research across different industries.
Some of the key points about the blockchain academic articles are the following:
- It focuses on the technical details of the cryptographic algorithms.
- It analyses the security implications associated with blockchain technology.
- Many academic research articles on blockchain explore the specific use cases of this technology in different sections of everyday life.
- These articles use various research methods to evaluate blockchain technology, including literature reviews, simulations and case studies.
What Are the Methodologies Used by Blockchain?
According to Simplilearn, the Proof of Stake (PoS) and Proof of Work (PoW) are the two basic consensus methods used by the consensus algorithm. A Distributed Ledger Technology (DLT) distributes data from a peer-to-peer network rather than storing it in a single place or location.
The top main methodologies used for conducting Blockchain research are the following:
- Distributed Ledger Technology: Lets users conduct digital transactions without using a central authority
- Bibliometric Analysis: It’s a methodology that uses software to overcome the limitations in blockchain research
- Smart Contracts: It uses a consortium-based blockchain network for the execution of transactions between nodes that have peer-to-peer connections.
- Blockchain-based Federated Learning: Here, distributed machine learning is used for the training of models without using a central server
The name of some other methodologies that can be used when conducting blockchain research are the following:
- Sentiment Analysis: used for the prediction of market movement based on the sentiments
- Econometric Methods: involves the usage of statistical models for the prediction of cryptocurrency prices
When choosing a blockchain platform, consider technical, implementation-related and business issues. Depending on the nature of your research work, you can use a variety of methodologies for work. If you are feeling confused, you can consider asking for help from your professor.
What Are the 4 Types of Blockchain?
The type of blockchain network you use depends on the nature of your academic work and research. The main types of blockchain networks, as per the Tech Target, are the following:
- Public Blockchain
- Private Blockchains
- Consortium Blockchains
- Hybrid Blockchains
Let’s now discuss the main elements of these types.
- Public Blockchain
Almost anyone can join and participate in it, and it is a decentralised network with no central authority. It is open to the public, and therefore anyone can join it. People usually use it to mine and exchange cryptocurrency.
- Private Blockchains
It refers to a more restricted environment controlled by a single entity. In this, only a few predetermined nodes can access the blockchain ledger. These can offer improved privacy, quicker transaction processing speed and greater control. It can often be used for internal applications like payroll, accounting and logistics.
- Consortium Blockchains
This is more like a semi-decentralised network where different organisations effectively manage the blockchain network. It is a combination of both private and public blockchains. As compared to public blockchains, these are more scalable and efficient. These are often used in industries where the collaboration of more than one organisation is needed.
- Hybrid Blockchains
As evident by the name, it is considered a combination of public and private blockchains and can be controlled by a central authority. It can easily resist 51% attacks and be cheaper and more scalable than public blockchains.
Conclusion
We have explored the top seven steps to conduct blockchain research for academic purposes. Students are encouraged to lead by the responsible use of technology by ensuring its positive impact on society. You can follow these steps and get enough help to finish all your research work. Although these guidelines can help you conduct effective research, some students still need personalised help with the research and writing their papers. The custom assignment writing platforms in the UK provide tailored assistance to learners and help them achieve their desired grades.
Lastly, it’s important for students to be more precise about the research goals once they start exploring this topic. This research can also give students access to several academic research papers, ensuring tamper-proof records and transparent review of authentic material.
Author Bio
Anna Perkins is a passionate blockchain enthusiast with over 10 years of experience as a dedicated assignment writer. She loves diving into developing decentralised applications and exploring new blockchain platforms. With a strong foundation in cryptography, computer science, and mathematics, Anna enjoys troubleshooting and improving blockchain systems. You can find her watching tech-related movies in her downtime, fuelling her love for innovation and technology.
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