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Mastering Blockchain

Mastering Blockchain

By : Imran Bashir
3.3 (10)
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Mastering Blockchain

Mastering Blockchain

3.3 (10)
By: Imran Bashir

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 (14 chapters)
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10
10. Alternative Blockchains
12
12. Scalability and Other Challenges

Decentralization using blockchain

Decentralization is a core benefit and service provided by the blockchain technology. Blockchain by design is a perfect vehicle for providing a platform that does not need any intermediaries and can function with many different leaders chosen via consensus mechanisms. This model allows anyone to compete to become the decision-making authority. This competition is governed by a consensus mechanism and the most commonly used method is known as Proof of Work (PoW).

Decentralization is applied in varying degrees from semi-decentralized to fully decentralized depending on the requirements and circumstances. Decentralization can be viewed from a blockchain perspective as a mechanism that provides a way to remodel existing applications and paradigms or build new applications in order to give full control to users.

Information and communication technology (ICT) has conventionally been based on a centralized paradigm whereby database or application servers are ...

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Mastering Blockchain
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