Book Image

Mastering Blockchain - Fourth Edition

By : Imran Bashir
5 (3)
Book Image

Mastering Blockchain - Fourth Edition

5 (3)
By: Imran Bashir

Overview of this book

Blockchain is the backbone of cryptocurrencies, it has had a massive impact in many sectors, including finance, supply chains, healthcare, government, and media. It’s also being used for cutting edge technologies such as AI and IoT. This new edition is thoroughly revised to offer a practical approach to using Ethereum, Hyperledger, Fabric, and Corda with step-by-step tutorials and real-world use-cases to help you understand everything you need to know about blockchain development and implementation. With new chapters on Decentralized Finance and solving privacy, identity, and security issues, as well as bonus online content exploring alternative blockchains, this is an unmissable read for everyone who wants to gain a deep understanding of blockchain. The book doesn’t shy away from advanced topics and practical expertise, such as decentralized application (DApp) development using smart contracts and oracles, and emerging trends in the blockchain space. Throughout the book, you’ll explore blockchain solutions beyond cryptocurrencies, such as the IoT with blockchain, enterprise blockchains, and tokenization, and gain insight into the future scope of this fascinating and disruptive technology. By the end of this blockchain book, you will have gained a thorough comprehension of the various facets of blockchain and understand the potential of this technology in diverse real-world scenarios.
Table of Contents (24 chapters)
23
Index

Tokenization on a blockchain

Tokenization, in the context of blockchain, is the process of representing an asset digitally on a blockchain. It can be used to represent commodities, real estate, ownership of art, currency, or anything else of value.

Remember, for the rest of the chapter when we refer to tokenization, it is in the context of blockchain.

After this brief definition, let’s explore how tokenization can be beneficial.

Advantages of tokenization

Tokenization provides several benefits. The following are some of the most important of these benefits:

  • Faster transaction processing: As transactions and all relevant parties are present on the blockchain and readily available, there is no need to wait for a response from a counterparty or to wait for clearing and settlement operations. All these operations can be performed efficiently and quickly on a blockchain.
  • Flexibility: Due to the worldwide adoption of systems that use tokens...