*2.1.3 The importance of Blockchain*

Blockchain has a number of qualities that make it useful. The success of Bitcoin, whose capital market presently stands at 191 billion USD [8], demonstrated the robustness and promising aspects of Blockchain. According to Ref. [6] and the UK government's office of research, Blockchain secures data records, lowers operational expenses, and increases transaction transparency.

The following are some of the interesting aspects, benefits, and significance of Blockchain, as it is mentioned in Ref. [6]:


from the previously recorded hash in the next block. To be successful, a malicious user must change the block data for all computers on the network, which is essentially impossible in a large network. As a result, data on Blockchain is protected against alteration in this regard.


Border control, government identity, insurance, shipping, real estate, advertising, waste management, energy, tourism, and a variety of other problems can all be solved with Blockchain technology. It is made up of numerous algorithms that are kept in the ledger and are used to detect faults. It also determines which block the error happened in.
