Overview of Blockchain

Abstract

Blockchain is a distributed, decentralized, public ledger for securely exchanging digital currency and transaction information. Blockchain was invented in 2008 by satoshi Nakamoto as public ledger for cryptocurrency bitcoin. Blockchain allows the participants to verify the transactions independently. This paper explains the concept of blockchain, characteristics, how blockchain works, and its security mechanisms. It attempts to highlights role of Blockchain in various fields. Key aspects: Improved accuracy by removing human involvement in verification. Cost reductions by eliminating third-party verification Decentralization makes it harder to tamper with. Transactions are secure, private and efficient. Transparent technology.