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)

Off-chain solutions

Layer 2 solutions are built on top of the main blockchain infrastructure. They do not require changes to the base level protocol; rather, they exist simply as smart contracts that interact with off-chain software. We will learn about some of these solutions in the following sections.

Payment or state channels

Payment or state channels are one of the more established blockchain scalability solutions. The idea is to use side channels or chains for processing transactions off the main chain. Once transactions on the side chain are processed and the state of the channel is finalized, it is written back on the main blockchain, as shown in the following diagram:

In this way, a lot of the transaction processing...