Based on the groundbreaking nature of this technology of blockchain, this chapter provides a detailed account of blockchain architecture and developmental processes. The background for this article is rooted in the growing need to explain one of the revolutionary technologies whose existence is going to change the way information is shared. It initially defines and explains what the concept and reasons for blockchain technology are, before further describing and explaining how the blockchain works, its structural construction, and the structure of its complex environment. Besides, the role of such constituents as nodes, ledgers, and protocols as well as distinct consensus algorithms that are required for maintaining the blockchain’s integrity is defined. This chapter also focuses on understanding smart contracts and whether these are simple, fast, private, cheap, and clear as to what they are. It provides information concerning what a smart contract is, its properties, and advantages along with possibilities of applying the technology and their distinctions. A deeper analysis of the Blockchain development process is then performed by comparing and contrasting the architecture of decentralized applications with that of web applications. It provides an understanding of the things that must be met, the characteristics of blockchain solutions that must be considered, and the stages of creating solutions based on a blockchain. The chapter also analyses how technology fulfills the needs of businesses by advancing efficiency, security, and lastly, transparency. An example of a typical blockchain transaction is described, and all the steps that are necessary for it from the initiation of the process until the creation of the chronicles of the transaction are covered. To sum up, the chapter focuses on the main differences between well-known blockchain platforms such as Ethereum, IBM Blockchain, IOTA, and Corda, several of which are particularly suitable for entirely different applications. This will provide the readers with a sound background of blockchain technology, architectural structures and processes of development that have placed this technology into use in various industries.