Book Image

Blockchain for Decision Makers

By : Romain Tormen
Book Image

Blockchain for Decision Makers

By: Romain Tormen

Overview of this book

In addition to cryptocurrencies, blockchain-based apps are being developed in different industries such as banking, supply chain, and healthcare to achieve digital transformation and enhance user experience. Blockchain is not only about Bitcoin or cryptocurrencies, but also about different technologies such as peer-to-peer networks, consensus mechanisms, and cryptography. These technologies together help sustain trustless environments in which digital value can be transferred between individuals without intermediaries. This book will help you understand the basics of blockchain such as consensus protocols, decentralized applications, and tokenization. You'll focus on how blockchain is used today in different industries and the technological challenges faced while implementing a blockchain strategy. The book also enables you, as a decision maker, to understand blockchain from a technical perspective and evaluate its applicability in your business. Finally, you'll get to grips with blockchain frameworks such as Hyperledger and Quorum and their usability. By the end of this book, you'll have learned about the current use cases of blockchain and be able to implement a blockchain strategy on your own.
Table of Contents (16 chapters)
Title Page

No network, no blockchain

A blockchain's most important component is the network—which is the community empowering it. The role of the community is to ensure that the truth is correctly recorded in the shared database.

The following diagram is an overview of a blockchain layer:

To understand this in a better way, let's look at a metaphorical example.

Truth in the network

Imagine a US Open final is happening next weekend between Roger Federer and Rafael Nadal. Being a big fan of Roger Federer and being sure he will win the game, Alice bets $10 on the betting website Betwin. On the other hand, Bob, who is an experienced gambler, thinks that Rafael Nadal will win. Bob decides to place a $10 bet on the Betwin platform...