An overview of Blockchain Technology and utilization of blockchain for transformation in India

Abstract

blockchain is the immutable blocks that are distributed over a network, which allows a transaction to take place in a decentralized manner. These distributed ledgers are secured with hash and consensus algorithm. Nowadays blockchains are widely used for different applications and use of blockchain is also increasing in numerous fields like bank, IOT, energy, etc. This paper provides a broad overview of blockchain technology, the architecture of blockchain, consensus algorithm. Moreover, applications of blockchain in different fields and future use of blockchain.