Abstract : Blockchain technology is being hailed as the next big thing by researchers and engineers alike, with applications ranging from finance to retail to healthcare. Gartner reports that client inquiries on digital currencies and related issues have doubled since August 2015. This article seeks to provide a brief executive description of blockchain technology, how it works, and why it has aroused everyone's interest. Blockchain technology, like the internet, provides a worldwide infrastructure of secure networks that may allow users to conduct transactions in such a way that the middleman is eliminated, lowering the cost of any transaction. The blockchain structure as a whole allows a digital ledger of information to be shared inside a network, across distributed nodes. These distributed ledgers are not controlled by a single authority and may be accessed by all users inside the distributed network. When a user wants to add a value to a transaction in a ledger, the data is encrypted and authenticated by other nodes in the network using cryptographic techniques. A new block of data may be added to the ledger only when the transaction has been validated by a majority of nodes. This ensures that a transaction is safe, auditable, and free of third-party intrusion. Blockchains can be made either public or private. In my research I have primarily focused on Blockchain in financial sector.
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