Book Image

Mastering Blockchain

Book Image

Mastering Blockchain

Overview of this book

Blockchain is a distributed database that enables permanent, transparent, and secure storage of data. The blockchain technology is the backbone of cryptocurrency – in fact, it’s the shared public ledger upon which the entire Bitcoin network relies – and it’s gaining popularity with people who work in finance, government, and the arts. Blockhchain technology uses cryptography to keep data secure. This book gives a detailed description of this leading technology and its implementation in the real world. This book begins with the technical foundations of blockchain, teaching you the fundamentals of cryptography and how it keeps data secure. You will learn about the mechanisms behind cryptocurrencies and how to develop applications using Ethereum, a decentralized virtual machine. You will explore different blockchain solutions and get an exclusive preview into Hyperledger, an upcoming blockchain solution from IBM and the Linux Foundation. You will also be shown how to implement blockchain beyond currencies, scability with blockchain, and the future scope of this fascinating and powerful technology.
Table of Contents (20 chapters)
Mastering Blockchain
Credits
About the Author
About the Reviewer
www.PacktPub.com
Customer Feedback
Preface

Zcash


Zcash was launched on 28th of October, 2016. This is the first currency that uses a specific type of zero knowledge proofs known as zero-knowledge Succinct Non-interactive Arguments of Knowledge (zk-SNARKs) to provide complete privacy to the user. These proofs are very short and easy to verify; however, setting up the initial public parameters is a complex process. The latter include two keys: the proving key and verifying key. The process requires sampling some random numbers in order to construct the public parameters. The issue is that these random numbers, also called toxic waste, must be destroyed after the parameter generation in order to prevent counterfeiting of Zcash. For this purpose, the Zcash team came up with a multi-party computation protocol to generate the required public parameters in a collaborative manner from independent locations to ensure that toxic waste is not created. Due to the fact that these public parameters are required to be created by the Zcash team...