Blockchain Technology's Applications and Challenges: An Overview

Blockchain emerges as a novel distributed digital ledger with consensus of a majority scheme for economic transaction. Recently, major implementations across different sectors that includes the education projects, technology projects, smart contracts, and supply chain management systems. In addition, any other digital data that needs to executed, stored, verified and continually update among participating parties with security, privacy, trust, and transparency without a central authority having control can be relying on Blockchain technology. Blockchain could be new revolution in information technology. This research aimed to conduct an overview of Blockchain attributes and its applications and challenges that encounter during the implementation. Our objective is exploring number of common Blockchain technology applications to highlight of how transparency, anonymity, tamper resistant, and secure decentrality helps to get rid security breaches compromising the current model, in which third parties collect and control massive amounts of critical data. In contrast, number of factor observed as issues that affect deploying Blockchain technology such as majority attack, fork problems, scale, and others issues. The future works must be concerned the proposed solutions hi many real world verity environments and explore the characteristics, benefits, and evaluation their effectiveness.