Summary
In this chapter, we explained key blockchain components and elements and the different characteristics of blockchain, and we discussed how blockchain works. We reviewed cryptographic technologies and how they are leveraged in blockchain. We illustrated how PoW and PoS consensus mechanisms work. We went over some key concepts in Bitcoin, as well as examining some Bitcoin limitations. We provided a short overview of cryptocurrencies and altcoins. We then showcased some of the leading blockchain implementations across the industry. We also briefly introduced Ethereum, as well as the key differences between Bitcoin and Ethereum.
In the next chapter, we will delve into the Ethereum architecture and ecosystem in greater depth. Stay tuned.