Blockchain exhumed

Abstract

A blockchain is a distributed, decentralised database of records of digital events (transactions) that took place and were shared among the participating parties. Each transaction in the public ledger is verified by consensus of a majority of the participants in the system. Bitcoin may not be that important in the future, but blockchain technology's role in Financial and Non-financial world can't be undermined. In this paper, we provide a holistic view of how Blockchain technology works, its strength and weaknesses, and its role to change the way the business happens today and tomorrow.