The Evolution and Architectural Framework of Distributed Ledger Technology: From Trust less Currency to Decentralized Computing Paradigm

Abstract

The study is grounded on the significant shifts, central values, and increased influence of Blockchain Technology on the industries. It addresses Blockchain Technology starting theoretically as a cryptographic concept of the beginning through to its contribution as a primarycomponent of decentralized computing (Web3). The discussion begins as the key issues are examined, namely, decentralized agreement, cryptographic hashing, and immutability. Such subjects enable the Blockchain Technology to gain trust in cases where mediators were being used in the past. Moreover, the research considers the impacts of Blockchain Technology on such critical industries as Decentralized Finance (DeFi), supply chain management, and decentralized governance (DAOs).