Literature Review on Block Chain: Technology, Principle and Development

Abstract

The block chain technology enjoys a promising development prospect. As one of the most popular technologies, block chain has been heatedly studied and researched by people from all walks of life. Based on an introduction to the technical background and basic concepts of block chain, by analyzing the technical architecture and working principle of block chain, this paper systematically explains the key technologies of block chain, namely decentralization, proof of work (POW), smart contract and Ethereum, and further discusses the development of the block chain technology, 5G, the Internet of Things and the future wireless network.