OVERVIEW OF THE BLOCKCHAIN TECHNOLOGY AND APPLICATIONS

In recent years, Blockchain technology has gained more and more attention and application development. Vietnam is one of the countries in the world that allows the connection and development of applications based on Blockchain technology. The content of the review will present the structure of Blockchain, classification of Blockchain, outstanding advantages of Blockchain and some applications.

Blockchain is a distributed, sometimes public, digital ledger consisting of records called blocks that are used to record transactions across multiple computers in which any block that exists in the system is cannot be changed without affecting subsequent blocks. This allows participants to independently and relatively cheaply verify and audit transactions. Blockchain databases are managed independently using a peer-to-peer network and distributed timestamping servers. Blocks are validated by mass collaboration by computers in the system through collective interests. To better understand how Blockchain is formed and operates, the next section of the overview will present details about the block structure, distributed network structure along with the scalability and security of Blockchain technology