ABSTRACT
The blockchain mechanism is one of the emerging digital currency mechanisms involved in digital currency. The evolution of the blockchain mechanism will give an overview of the former technology involved in cryptocurrency and security. The basics of blockchain evolved from basic blocks. The categorization of blocks into different types is based on their structure and characteristics. The advancement of smart card security and peer network management makes the end user communication reliable and easy. The blockchain can be applied in various fields based upon its use and type. In the medical field the blockchain plays a vital role in managing the privacy of medication and diagnosis certificates with the secure hash method and make a trusted third party in between patient and doctor. The finance management and voting system currently use the blockchain mechanism in their medium of exchange and security. The authentication and authorization purpose in digital certification now involves the blockchain method as the key component. The basic hashing mechanism was the key factor in cryptographic algorithms and for blockchain it is a key component for building the blocks. The API creation for using the blockchain mechanism ensure interaction in more trusted and validated way. This makes a secure channel between the end-users to protect the communication. The unique key generation and Xpub Key management approach improve the authenticity and privacy in each communication with blockchain.
