A Survey on Blockchain and its Application Prospect

Abstract

This thesis is on “A Survey on Blockchain and its Application Prospect”.Blockchain has proved its potential by implementing Bitcoin, a modern crypto currency network. However, Blockchain can do more than this. Traditional system architectures can be replaced by this architecture since it provides more security, persistence, transparency to the participants. Blockchain executes as a decentralized framework which thus brings more data security and safety. It has its own limitations and more research work on this is required. This paper provides a clear concept of Blockchain architecture and overview on major research work. Furthermore, it also presents a couple of new idea which can solve existing problems if the implementation is right. Future research scope and possibilities is also listed in this article.