Blockchain and Cryptocurrencies

Abstract

A blockchain can be referred to as a collection of records or open records that gets shared amongst participating-parties. Every transaction that gets incorporated is first verified by more than half of the participants of that transaction. Once the data gets recorded by the blockchain, can never be rewritten or changed. Thus the blockchain can be termed as a record book of all the transactions held. Cryptocurrencies are decentralized currencies like Bitcoin, Ethereum, Litecoin and safe moon which can be termed as peer-to-peer computerized cash that widely uses blockchain technology. This paper includes an overview on Blockchain Technology, Types of Blockchain, advantages of cryptocurrencies a few literary reviews, working of the blockchain and its application, fiat currencies-History, causes and cons.