The Concept of Blockchain and its Application: A Review

Abstract

For the creation of cryptocurrencies like bitcoin, blockchain is the fundamental technology. Since the development of the steam engine, electricity, and computer technology, there has been a fourth industrial revolution. Blockchain technology is one of the components of this revolution, and it has been used in many sectors, including commerce, banking, and the legal system. In the beginning of this study, we talk about blocks and their many sorts. Following that, cutting-edge blockchain technology applications were covered. In addition, the benefits and drawbacks are also emphasized to help explain the blockchain idea. But there is also discussion on the use of blockchain in 5G.