Introduction to blockchain and distributed systems—fundamental theories and concepts

Abstract Blockchain is among the foremost significant technical innovation during latest period. It’s a clear money exchange system that changed the approach an occupation is held. It’s becoming widespread due to its indisputable security and skills to offer full resolution to digital identity problems. Blockchain serves as a digital ledger in a P2P network. This chapter gives an in-depth background on blockchain technology, its history, design, working, benefits, and challenges associated with it and its application in several industries. It is a long-time ledger that permits transactions occur in a very decentralized way. The applications of blockchain are arising, covering varied fields together with finance, IoT, etc. However, there are yet numerous challenges such as scalability and safety-related issues which are yet to be resolved. In this chapter, a comprehensive outline on blockchain technology and all of its aspects is explained.