A Study on Blockchain Technology

Abstract

The Blockchain is the newest and perspective technology in modern economy. A blockchain is essentially a distributed database of records or public ledger of all transactions or digital events that have been executed and shared among participating parties. It provides provenance, immutability and finality for the transfer of value within a business network. - It enables value exchange in real time, reducing costs and errors. Based on a network consensus approach, whereby trust between the parties involved in a transaction is provided by cryptography. This paper aims to show brief overview of Blockchain Technology, applications and have discussed limitations in the perspective of future research on security in fanatical transaction.