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)

The Byzantine Generals' Problem

The Byzantine Generals' Problem is actually an abstract way to describe a problem in computer systems introduced in a 1982 paper of the same name. The problem states that reliable computer systems must be able to function effectively in the presence of faulty components that may send conflicting information to different parts of the system. This issue is even more acute in decentralized computer networks.

This is illustrated in the following diagram:

Let's imagine the following thought experiment.

The Byzantine army has surrounded an enemy city. The army is organized in several units. Each unit is commanded by a general. All these generals need to come up with a coordinated plan of action, but they are located away from each other and can communicate only via messages. To make things more complicated, one or more of the generals...