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

Algorithms

In this section, we will discuss the key algorithms in detail. We'll be looking at the two main types of fault-tolerant algorithms, CFT and BFT.

CFT algorithms

We'll begin by looking at some algorithms that solve the consensus problem with crash fault tolerance. One of the most fundamental algorithms in this space is Paxos.

Paxos

Leslie Lamport developed Paxos. It is the most fundamental distributed consensus algorithm, allowing consensus over a value under unreliable communications. In other words, Paxos is used to build a reliable system that works correctly, even in the presence of faults.

Paxos was proposed first in 1989 and then later, more formally, in 1998 in the following paper:

Lamport, L., 1998. The part-time parliament. ACM Transactions on Computer Systems (TOCS), 16(2), pp.133-169.

The paper is available here:

https://lamport.azurewebsites.net/pubs/lamport-paxos.pdf.

Note that Paxos works under an asynchronous network model and supports the handling...