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This is a “digital ledger” that keeps a track on the cryptocurrency transactions that is combined of individual block of data formed by either mining or some other different process. With the advent of blockchain, Cryptocurrency gets the authority to operate without the interference of any other authority. This reduces the risk and also cuts extra transaction fees.
The first generation of Blockchain Technology that focuses on cryptocurrency and decentralization is Blockchain 1.0. It is extended to 2.0 that focuses on the decentralization of business and the markets via the smart contracts and transparency and improved security. The final development stage of blockchain is termed as Blockchain 3.0 that predicts institutional, global and enterprise adoption.
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