Book Image

Blockchain for Business 2019

By : Peter Lipovyanov
Book Image

Blockchain for Business 2019

By: Peter Lipovyanov

Overview of this book

Blockchain for Business 2019 is a comprehensive guide that enables you to bring in various blockchain functionalities to extend your existing business models and make correct fully-informed decisions. You will learn how decentralized applications are transforming numerous business sectors that are expected to play a huge role in the future. You will see how large corporations are already implementing blockchain technology now. You will then learn about the various blockchain services, such as Bitcoin, Ethereum, Hyperledger, and others to understand their use cases in a variety of business domains. You will develop a solid fundamental understanding of blockchain architecture. Moving ahead, you will get to grips with the inner workings of blockchain, with detailed explanations of mining, decentralized consensus, cryptography, smart contracts, and many other important concepts. You will delve into a realistic view of the current state of blockchain technology, along with its issues, limitations, and potential solutions that can take it to the next level. By the end of this book, you will all be well versed in the latest innovations and developments in the emerging blockchain space.
Table of Contents (17 chapters)

On-chain solutions

As we saw in the preceding sections, on-chain transactions can be pretty cumbersome. For this, we will use the following solutions.

Proof-of-Stake

In this book, we have presented two consensus algorithms: Proof-of-Work, and Proof-of-Elapsed Time:

As we learned, consensus algorithms need to be suitable for the ecosystem they support. And there is a big difference between what is suitable for an open permission-less public blockchain, such as Bitcoin and Ethereum, and a private permissioned blockchain framework such as Hyperledger. The difference stems from the need for trust in the system, or lack thereof. Different levels of trust call for different consensus algorithms. Therefore Proof-of-Work is suitable...