Abstract
Bitcoin's underlying technology, blockchain, has recently drawn a lot of attention. Blockchain functions as an unchangeable ledger that enables decentralized transaction processing. Numerous industries, including financial services, reputation management, and the Internet of Things (IOT), are seeing the emergence of blockchain-based applications. Blockchain technology still faces several obstacles, including scalability and security issues, which must be resolved. This essay provides a thorough introduction to blockchain technology. First, we give a brief introduction to blockchain architecture before contrasting some common consensus techniques applied across various blockchain’s. Also briefly addressed are technical difficulties and recent advancements. We also outline potential blockchain trends in the future.
Keywords: Blockchain, Decentralization, Consensus, Scalability
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