BLOCKCHAIN TECHNOLOGY: OVERVIEW AND APPLICATIONS

Abstract

Various techniques are used to develop the Blockchain Technology. It is a technology which is designed in such a way that it is impossible to hack the system or hammer out the data stored in it It is one of the leading technologies in the current scenario. The goal of blockchain is to allow digital information to be recorded and distributed, but not edited. In this way, a blockchain is as the basis for absolute registry, or transactional records that cannot be changed, deleted, or otherwise disposed. Different domains are being adapting the blockchain technology which brings up the peer-to-peer connections and the cost of the middlemen is reduced. The technology uses authentication to secure the data and make it impossible to break than any legacy system [2].