Blockchain: Wheels of the New Internet

We are on the threshold of Internet revolution. Blockchain will be backbone of this new generation of Internet or Internet 3.0. Internet as we know for now i.e Internet 2.0 is highly flawed because of it's centralized nature. Due to centralization, few tech giants control most the Internet. Insufficient Authentication Controls, Cross Site Scripting, Phishing attacks, information leaks, security breaches, etc are some of the major shortcomings of current Internet. Blockchain powered internet endeavours to outstrip this shortfalls via it's decentralized, neutral, auditable and transnational nature. A blockchain is basically a time-stamped series of entrenched records of data. This data is superintended by bunch of computers which is not administered by a single entity. Blockchain, it's future and it's applications has started becoming more apparent after the introduction of technology in field of cryptocurrency. Blockchain has proven to have numerous applications in fields of finance, health, data storage, privacy and security, supply chain monitoring, real estate and education. Currently, interoperability and scaling are major milestones needed to be overcome by this wheels of the new internet. This paper attempts to explain the newfangled technology, explore it's architecture, recent advancements and applications. At the end, we made an attempt to conclude our findings and research data.