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

Advanced protocols

In this section, we'll introduce various advanced protocols that have been suggested or implemented for improving the Bitcoin protocol. For example, transaction throughput is one of the critical issues that need a solution. The Bitcoin network can only process approximately three to seven transactions per second, which is a tiny number compared to other financial networks. For example, the Visa network can process approximately, on average, 24,000 transactions per second. PayPal can process approximately 200 transactions per second, whereas Ethereum can process up to, on average, 20. As the Bitcoin network has grown exponentially over the last few years, these issues have started to grow even further. The difference in processing speed is also shown in the following graph, which shows the scale of difference between Bitcoin and other networks' transaction speeds. The graph uses a logarithmic scale, which demonstrates the vast difference between the networks...