Blockchain: The new era of Technology

Abstract

Now a days many applications are being built using the immutability and robustness of blockchain. Blockchain is a new class of information technology which combines cryptography and distributed ledger that already exists. The model is composed of a group of computers that collaborate towards maintaining a secured database, without storing the data at any central unit. It is the technology behind all the crypto currencies like Bitcoin, Litecoin, Etherum and now finding its way to record everything possible. This paper focuses on the basic framework of blockchain model, its development history, prerequisites and challenges of blockchain. Finally, various current real time applications of the technology are discussed.