Book Image

Tokenomics

By : Sean Au, Thomas Power(GBP)
Book Image

Tokenomics

By: Sean Au, Thomas Power(GBP)

Overview of this book

Tokenomics is the economy of this new world. This is a no-holds-barred, in-depth exploration of the way in which we can participate in the blockchain economy. The reader will learn the basics of bitcoin, blockchains, and tokenomics; what the very first ICO was; and how over a period of 5 years, various projects managed to raise the enormous sums of money they did. The book then provides insights from ICO experts and looks at what the future holds. By comparing the past, current, and future of this technology, the book will inform anyone, whatever motivates their interest. The crypto shift of blockchains, ICOs, and tokens is much more than just buying bitcoins, creating tokens, or raising millions in a minute in an ICO. It is a new paradigm shift from centralized to decentralized, from closed to open, and from opaqueness to transparency. ICOs and the creation of tokens during the craze of 2017 needed a lot of preparation, an understanding of cryptocurrencies and of emerging legal frameworks, but this has spurred a new movement to tokenize the world. The author gives an unbiased, authoritative picture of the current playing field, exploring the token opportunities and provides a unique insight into the developing world of this tokenized economy. This book will nourish hungry minds wanting to grow their knowledge in this fascinating area.
Table of Contents (18 chapters)
Tokenomics
Contributors
Preface
Index

Bitcoin – in the beginning


Money has not had a major innovative disruption in at least several decades, but there have been many attempts in the past, such as DigiCash (Chaum, 1989), e-gold (Jackson and Downey, 1996), B-money (Dai, 1997), bit gold (Szabo, 1998), and Liberty Dollar (von NotHaus, 1998). It wasn't until the invention of bitcoin that a disruption really started to show, but why did these previous attempts fail?

DigiCash

One of the biggest challenges in creating a cryptocurrency is the double-spend problem. This is where the same digital currency is spent twice because it can be easily copied in the digital realm. In fact, it can be spent many times over.

In 1982, David Chaum, an American computer scientist and cryptographer, published a paper on his idea of Blind Signatures for Untraceable Payments (http://www.hit.bme.hu/~buttyan/courses/BMEVIHIM219/2009/Chaum.BlindSigForPayment.1982.PDF). Then, in 1988, he co-authored a paper on Untraceable Electronic Cash (http://blog.koehntopp...