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I just got chance to work on Ethereum, block-chain based platform. But I don't have a clear idea in which scenarios this is used, any real life use of this. Could anybody help me understand blockchain based platform and its real life uses?

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In simple terms, Blockchain is a distributed and decentralized digital ledger which records transactions across a global network of computers where the information is highly secure. As the name suggests, blockchain is nothing but a linear chain of blocks that holds information of transactions taking place over the web. Every block contains data in the form of coding that is organized in a chronological manner. Owing to its diverse set of functionalities, blockchain is leveraged across all verticals today. Though the applicability of blockchain networks today is limited, it is a wide known fact that blockchain holds tremendous potential. And therefore, substantial investments are being done to enhance R&D on blockchain networks. Blockchains are applied across AI, Banking, healthcare, industries, construction industry and much more.

Ethereum, on the other hand, is an open-source, public, blockchain-based distributed computing platform and operating system featuring a smart contract functionality, Ethereum enables Distributed Applications to be built and executed without any downtime, fraud, control, or interference from a third-party entity. Ethereum is not just a platform but also a Turing-complete programming language running on a blockchain that helps developers to publish distributed applications.

One of the big projects around Ethereum is Microsoft’s partnership with ConsenSys which offers Ethereum Blockchain as a Service (EBaaS) on Microsoft Azure to empower Enterprise clients and developers with a single click cloud-based blockchain developer environment.

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