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

Decentralized autonomous organizations


Just like DOs, a Decentralized autonomous organization (DAO) is also a computer program than runs on top of a blockchain and embedded within it are governance and business logic rules. DAO and DO are basically the same thing, but the main difference is that DAOs are autonomous, which means that they are fully automated and contain artificially intelligent logic, whereas DOs lack this feature and rely on human input in order to execute business logic.

Ethereum blockchain led the way with the introduction of DAOs for the first time. In DAO, the code is considered the governing entity rather than humans or paper contracts. A Curator, however, is a human entity that participates as someone who maintains this code and acts as a proposal evaluator for the community. DAOs are capable of hiring external Contractors if enough input is received from the token holders (participants). The most famous DAO project is The DAO (https://daohub.org) as it raised 168 million...