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

Analysis and design

To analyze and understand a consensus algorithm, we need to define a model under which our algorithm will run. This model provides some assumptions about the operating environment of the algorithm and provides a way to intuitively study and reason about the various properties of the algorithm.

In the following sections, we'll describe a model that is useful for describing and analyzing consensus mechanisms.

Model

Distributed computing systems represent different entities in the system under a computational model. This computational model is a beneficial way of describing the system under some system assumptions. A computational model represents processes, network conditions, timing assumptions, and how all these entities interact and work together. We will now look at this model in detail and introduce all objects one by one.

Processes

Processes communicate with each other by passing messages to each other. Therefore, these systems are called message-passing...