A comprehensive view of blockchain: The technical and practical approach

Blockchain as a distributed cryptographic ledger, uses a peer-to-peer (P2P) network to reach a consensus and monitor the accuracy of operations. Blockchain has numerous benefits, including decentralization, stability, anonymity, and responsiveness. A wide range of blockchain applications are available, ranging from financial services, cryptocurrencies, risk management to public services. Although some studies have focused on the use of blockchain technology invarious aspects of applications, so far there is no comprehensive study of blockchain technology, both technically and applied in various sciences. This article introduces blockchain classifications, introduces blockchain consensus algorithms, examines blockchain applications, and discusses technical challenges as well as recent advances in addressing the challenges.

Keywords:

Blockchain , algorithm , currency code , IoT , smart contract