A wind turbine including a plurality of blades, a micro inertial measurement unit installed on each blade and configured to sense a plurality of detection parameter signals at corresponding installation positions, and a monitoring system configured to monitor an operating state of the blades. The monitoring system includes a signal processing unit configured to obtain a processing parameter signal through calculation based on the detection parameter signals, a signal analyzing unit configured to analyze each analysis parameter signal, selected from the plurality of detection parameter signals and the processing parameter signal, to obtain a fault estimation signal, used to estimate whether a corresponding blade works in a fault state, and a fault evaluating unit configured to evaluate, based on a plurality of fault estimation signals, whether a corresponding blade fails or a probability that the corresponding blade fails.