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

Other challenges


Apart from security and privacy, discussed in Chapter 16, Scalability and Other Challenges, several other hurdles should be addressed before the mainstream adoption of blockchains can be realized. These include regulation, government control, immature technology, integration with existing systems, and implementation costs.

Regulation

Regulation is considered one of the most significant challenges that need to be addressed. The core issue is that blockchains and especially cryptocurrencies are not recognized as a legal currency by any government. Even though in some cases, it has been classified as money in the US and Germany, it is still far from being accepted as a regular currency. Moreover, blockchains in their current state are not recognized as a platform that can be used by financial institutions. No financial regulatory body has yet accepted it as a platform that can be authorized to be used.

There are, however, various initiatives taken by regulatory authorities around...