ABSTRACT
Industry 4.0 entails advancements in emerging digital technologies, with blockchain being one of them. For both small and large businesses, blockchain may be used to improve security, privacy, and data openness. Industry 4.0 is a collection of new production methods that enable enterprises to meet their goals faster. The world’s first virtual money, Bitcoin, was launched in 2008. Its worth reached 3,790k after only 13 years, in December 2021. Because of security infractions such as hacking and theft that occurred throughout these 10 years, progress was slow from 2008 to 2018. We explored the primary factors that contributed to the decline in Bitcoin value using a case study. The decentralized nature of transactions is made possible by blockchain technology. It is now employed in a variety of industries, including data compilation, payment processing, money transfer, the Internet of things (IoT), and financial services. Security and scalability are two of the numerous issues with blockchain that have yet to be resolved. This chapter seeks to introduce the blockchain technology architecture as well as the consensus methods used in it, in addition, to demonstrate the worth of Bitcoin despite its numerous security threats.
