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)

Types of cryptography

Now, we'll introduce some important concepts that will help you understand cryptography's role in the world of blockchain.

Cryptographic cyphers are encrypted and decrypted with keys. These keys are basically secret pieces of information or parameters, which typically look like strings of characters. Think about something such as a password or passphrase that locks and unlocks access to an encrypted message. These are actually keys to the cryptographic algorithms and help convert ordinary information (called plain text) into unintelligible text (called ciphertext) and vice versa. This is shown in the following diagram:

There are two main types of cryptography:

  • Symmetric (also known as secret key cryptography): This is a type of cryptography where the same key is used for both encryption and decryption. This can be seen in the following diagram...