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 2. Decentralization

Decentralization is not a new concept. It has been used in strategy, management, and the government, for a long time. The basic idea of decentralization is to distribute control and authority to the peripheries of an organization instead of one central body being in full control of the organization. This configuration produces several benefits for organizations, such as increased efficiency, expedited decision making, better motivation, and a reduced burden on top management.

In this chapter, we will discuss the concept of decentralization in the context of blockchain. The fundamental basis of blockchain is that no single central authority is in control, and, in this chapter, we will present examples of various methods of decentralization and routes to achieve this. Furthermore, we will discuss the decentralization of the blockchain ecosystem, decentralized applications, and platforms for achieving decentralization, in detail. Also, we will introduce you to numerous...