Is Blockchain Technology Secure to Work On?

Abstract

Technology is revolutionizing and making positive as well as negative impacts on social animals. The social animal's behavior gets affected due to instant change in their lives. A concept of blockchain technology or distributed ledger transforms the way of their living. This technology is well known for its immutable and distributed architecture. The government focuses on such technologies rather than centralized network so that they can avoid central server banking crimes. These technologies allow social animals to stay secured and updated in an online process of information transfer. These are very famous for bitcoin, ripple, and ether transactions; however, mentioned transactions are just applications of distributed ledger. This chapter discusses the features, pros, cons, challenges, and future scope of distributed ledger. Further, it discusses the applications of blockchain technology in different sectors like identity management, smart cities, privacy protection, travel industry, electronic voting, finance, health industry, smart contracts, and hospitality.