Book Image

Advanced Blockchain Development

By : Imran Bashir, Narayan Prusty
Book Image

Advanced Blockchain Development

By: Imran Bashir, Narayan Prusty

Overview of this book

Blockchain technology is a distributed ledger with applications in industries such as finance, government, and media. This Learning Path is your guide to building blockchain networks using Ethereum, JavaScript, and Solidity. You will get started by understanding the technical foundations of blockchain technology, including distributed systems, cryptography and how this digital ledger keeps data secure. Further into the chapters, you’ll gain insights into developing applications using Ethereum and Hyperledger. As you build on your knowledge of Ether security, mining, smart contracts, and Solidity, you’ll learn how to create robust and secure applications that run exactly as programmed without being affected by fraud, censorship, or third-party interference. Toward the concluding chapters, you’ll explore how blockchain solutions can be implemented in applications such as IoT apps, in addition to its use in currencies. This Learning Path also highlights how you can increase blockchain scalability, and discusses the future scope of this fascinating and powerful technology. By the end of this Learning Path, you'll be equipped with the skills you need to tackle pain points encountered in the blockchain life cycle and confidently design and deploy decentralized applications.
Table of Contents (25 chapters)
Title Page
Copyright and Credits
About Packt
Contributors
Preface
15
Blockchain - Outside of Currencies
16
Scalability and Other Challenges
Index

Chapter 15. Blockchain - Outside of Currencies

Digital currencies were the first-ever application of blockchain technology, arguably without realizing its real potential. With the invention of Bitcoin, the concept of blockchain was introduced for the very first time, but it was not until 2013 that the true potential of blockchain technology was realized with its possible application in many different industries, other than cryptocurrencies. Since then many use cases of blockchain technology in various industries have been proposed, including but not limited to finance, the Internet of Things, digital rights management, government, and law.

In this chapter, four main industries namely the Internet of Things, government, health, and finance, have been selected, with the aid of use cases, for discussion.

Note

In 2010, discussion started regarding BitDNS, a decentralized naming system for domains on the internet. Then Namecoin (https://wiki.namecoin.org/index.php?title=History) started in April...