Blockchain Technology and Its Industrial Utilization: A Review

Blockchain, the technology behind bitcoin, is an exchange interconnected system which involves transactional and asset movement without intervention of the representatives. It incorporates not only the databases and an application but also involves the clients to access it, moreover the number of connected computers and software tools to examine as well. Blockchain technology has seen a tremendous growth in the research and industrial sectors in recent years. The reason behind the potential improvement is its problem-solving capabilities which includes recording and sharing of the information safely, building an efficient and effective supply chain process, and transparency in its working.  Blockchain offers various techniques and valuable solutions to tackle these problems in a simpler way. These issues can be resolved by providing a tailor cut solution using safe and secured transactional records. In this paper, the detailed description of blockchain is discussed along with various benefits and challenges. Further, the paper also reviews its working  along with its industrial applications.