A REVIEW ON BLOCKCHAIN TECHNOLOGY

Blockchain is the backbone Technology of Digital Cryptocurrency Bitcoins. The blockchain is a distributed database of records of all transactions or digital event that have been executed and shared among participating parties. Each transaction verified by the majority of participants of the system. It contains every single record of each transaction. Intensive research is currently being conducted in both academia and industry applying the Blockchain technology in multifarious applications. Proof-of-Work, a cryptographic puzzle, plays a vital role in ensuring Blockchain security by maintaining a digital ledger of transactions, which is considered to be incorruptible. This paper gives details about Blockchain its need which is followed by features, types and applications of blockchain.