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

The Byzantine Generals Problem

In the following chapters, we will start addressing more business-oriented topics. Until then, I should provide you with some context on the whys and wherefores of blockchain and go back to where it all started, with the Byzantine Generals Problem.

The Byzantine Generals Problem is a real-life analogy for computer science that was expressed and partly answered in 1982 by Leslie Lamport, a famous American scientist and Turing Award winner, who raised the following question: how can you achieve a consensus in the presence of traitors or faults? Translated to the computer science world, this means: how can you achieve consensus in a distributed system where some computers may be malfunctioning or give conflicting information? This is how the issue came to be illustrated and known as the Byzantine Generals Problem.

The following diagram...