ABSTRACT
In recent years, cryptocurrency and its underlying technology i.e., blockchain technology has gained enormous attention from researchers and industry both. Due to ability to provide high level security to safety-critical and time-sensitive systems, blockchain is not limited to cryptocurrency now. Blockchain can be defined as a sequence of immutable records of all the transactions that have been executed and accessed by every node without any central authorised party. It is also referred to as a distributed ledger technology, where each participating site verifies all the transactions by maintaining a local copy of a global ledger. In a very short span of time blockchain is applied in various fields such as healthcare, agriculture, supply chain management etc. In this paper, we describe the state-of-art, working principle of blockchain based system. We analysed the concept of trust in blockchain, along with potential applications in various fields.
