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)

Introduction to Bitcoin's five forces

Now that we know what double-spending is, and how Bitcoin resolves this issue, we are ready to continue further and provide a holistic view of Bitcoin's architecture and ecosystem.

The main pillars of Bitcoin are the following fundamental technologies and concepts:

  • Blockchain or distributed ledger technology (DLT)
  • Cryptography
  • Consensus mechanism rooted in game theory, which, in this case, is Proof-of-Work
  • Peer-to-peer network
  • Software code base

We call this framework Bitcoin's five forces.

This framework can be seen in the following diagram:

In the next five chapters, we will delve into the specifics of each of these areas and will explain how they are combined to make Bitcoin's mechanism tick. Stay tuned, as things are getting really interesting!