• Anjana S Murthy

Abstract: A blockchain is technically record of databases or a general book(ledger) of all transactions or digital events that have been done and shared among users. Every transaction in the general book is verified by node(consensus) of a majority of the users in the system. And, once entered, the data can never be removed. The blockchain contains a certain and checked records of every single event ever happened. Bitcoin is a decentralized P to P digital currency, which is the most popular example that uses blockchain technology. The digital currency bitcoin itself is highly controversial but the underlying blockchain technology has worked perfectly and found wide range of applications in both financial and non-financial world. The main objective is that the blockchain establishes a system of creating a distributed node(consensus) in the online worldwhich allows participating users to know for certain that a digital event happened by creating an undeniable record in a public book. It opens the door for developing a decentralized system. There are massiveoccasion in this unruly technology and revolution in this space has just begun. In this paper describes blockchain technology and some compelling specific applications in both financial and non-financial sector.

Blockchain, Consensus, Ledger, Bitcoin, Node.

"BLOCKCHAIN – THE PATH TO DECENTRALIZED INTERNET", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.7, Issue 2, page no.4-10, February-2020, Available :http://www.jetir.org/papers/JETIR2002402.pdf

"BLOCKCHAIN – THE PATH TO DECENTRALIZED INTERNET", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.7, Issue 2, page no. pp4-10, February-2020, Available at : http://www.jetir.org/papers/JETIR2002402.pdf