Blockchain Technology: A Brief Overview

Abstract

Blockchain technology and distributed ledger has attracted massive attention and has triggered multiple projects in different industries. Blockchain is one of the most important technical invention in the recent years. It serves as an immutable ledger which allows transactions to take place in a decentralized manner. Blockchain based applications are springing up and are covering numerous fields including financial services, reputation system and Internet of Things (IoT), and so on. However, there are still many challenges of blockchain technology such as scalability and security problems waiting to be overcome. This paper presents a comprehensive overview on blockchain technology.