INTRODUCTIONThe blockchain technology and the opportunities it created began to enter our lives about 10 years ago. The technology that we are most familiar with is Bitcoin, a cryptocurrency that uses the blockchain technology. After the invention of Bitcoin many other cryptocurrencies have followed suit. Bitcoin is still at the top and was the first to introduce the Proof of Work algorithm, which we’ll talk about in a moment, however, this system is now quite outdated. In this article we are going to discuss the technical aspects of the Blockchain technology, Bitcoin and the algorithms it uses and applications for the Blockchain technology.