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

Namecoin


Namecoin is the first fork of the bitcoin source code. The key idea behind Namecoin is not to produce an altcoin but instead to provide improved decentralization, censorship resistance, privacy, security, and faster decentralized naming. Decentralized naming services are intended to provide a response to inherent limitations such as slowness and centralized control in the traditional Domain Name System (DNS) protocols used on the Internet. Namecoin is also the first solution to Zooko's triangle, which was briefly discussed in previous chapters.

Namecoin is used to essentially provide a service to register a key/value pair. One major use case of Namecoin is that it can provide a decentralized Transport Layer Security (TLS) certificate validation mechanism, driven by blockchain-based distributed and decentralized consensus.

It is based on the same technology introduced with bitcoin, but with its own blockchain and wallet software. The source code for the Namecoin core is available...