Book Image

Blockchain Quick Reference

By : Mariko Amekodommo, Brenn Hill, Samanyu Chopra, Paul Valencourt
Book Image

Blockchain Quick Reference

By: Mariko Amekodommo, Brenn Hill, Samanyu Chopra, Paul Valencourt

Overview of this book

Blockchain Quick Reference takes you through the electrifying world of blockchain technology and is designed for those who want to polish their existing knowledge regarding the various pillars of the blockchain ecosystem. This book is your go-to guide, teaching you how to apply principles and ideas for making your life and business better. You will cover the architecture, Initial Coin Offerings (ICOs), tokens, smart contracts, and terminologies of the blockchain technology, before studying how they work. All you need is a curious mind to get started with blockchain technology. Once you have grasped the basics, you will explore components of Ethereum, such as ether tokens, transactions, and smart contracts, in order to build simple Dapps. You will then move on to learning why Solidity is used specifically for Ethereum-based projects, followed by exploring different types of blockchain with easy-to-follow examples. All this will help you tackle challenges and problems. By the end of this book, you will not only have solved current and future problems relating to blockchain technology but will also be able to build efficient decentralized applications.
Table of Contents (24 chapters)

51% attacks

All blockchains can suffer from consensus attacks, often referred to as 51% attacks because of the original consensus attack possible in Bitcoin. Every blockchain relies on the majority of its users or stakeholders being good actors, or at least not coordinating against the rest of the network. If the majority (or even a large minority) of the powerful network actors in a blockchain system coordinate against the rest, they will be able to launch double-spend attacks and extract large amounts of value from the network against its will.

While once theoretical, there have recently been a number of successful 51% attacks against different blockchains, such as Verge (find the link in the references). In systems that are more centralized, such as proof-of-stake systems where there may be a small number of extremely large stakeholders, it is entirely possible that similar...