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

Future


The year 2017 is predicted to be the year when blockchain technology is implemented in real-world production environments and move from the Proof of concept and theoretical stage of previous years. There are few careful predictions being made in the section that are based on the current advancement and speed of progress in the concerned field. All of these predictions are likely to come true between the years 2020 and 2050:

  • The IoT will run on multiple blockchains and will give rise to an M2M economy.

  • Medical records will be shared securely while preserving the privacy of patients between various private blockchains run by consortia of health providers. It may well be a single private blockchain shared among all service providers.

  • Elections will be held via decentralized web applications with a backend of blockchains in a transparent and secure manner.

  • Financial institutions will be running many private blockchains to share data between participants and for internal processes.

  • Financial...