Book Image

Mastering Blockchain - Third Edition

By : Imran Bashir
Book Image

Mastering Blockchain - Third Edition

By: Imran Bashir

Overview of this book

Blockchain is the backbone of cryptocurrencies, with applications in finance, government, media, and other industries. With a legacy of providing technologists with executable insights, this new edition of Mastering Blockchain is thoroughly revised and updated to the latest blockchain research with four new chapters on consensus algorithms, Serenity (the update that will introduce Ethereum 2.0), tokenization, and enterprise blockchains. This book covers the basics, including blockchain’s technical underpinnings, cryptography and consensus protocols. It also provides you with expert knowledge on decentralization, decentralized application development on Ethereum, Bitcoin, alternative coins, smart contracts, alternative blockchains, and Hyperledger. Further, you will explore blockchain solutions beyond cryptocurrencies such as the Internet of Things with blockchain, enterprise blockchains, tokenization using blockchain, and consider the future scope of this fascinating and disruptive technology. By the end of this book, you will have gained a thorough comprehension of the various facets of blockchain and understand their potential in diverse real-world scenarios.
Table of Contents (24 chapters)

Platforms for decentralization

Today, there are many platforms available for decentralization. In fact, the fundamental feature of blockchain networks is to provide decentralization. Therefore, any blockchain network, such as Bitcoin, Ethereum, Hyperledger Fabric, or Quorum, can be used to provide a decentralization service. Many organizations around the world have introduced platforms that promise to make distributed application development easy, accessible, and secure. Some of these platforms are described as follows.


Ethereum tops the list as being the first blockchain to introduce a Turing-complete language and the concept of a virtual machine. This is in stark contrast to the limited scripting language in Bitcoin and many other cryptocurrencies. With the availability of its Turing-complete language, Solidity, endless possibilities have opened for the development of decentralized applications. This blockchain was first proposed in 2013 by Vitalik Buterin, and it provides a public blockchain to develop smart contracts and decentralized applications. Currency tokens on Ethereum are called ethers.


This is a project for the decentralized Internet introduced in 2006. This is not a blockchain, but a decentralized and autonomous network.

MaidSafe provides a SAFE (Secure Access for Everyone) network that is made up of unused computing resources, such as storage, processing power, and the data connections of its users. The files on the network are divided into small chunks of data, which are encrypted and distributed randomly throughout the network. This data can only be retrieved by its respective owner. One key innovation of MaidSafe is that duplicate files are automatically rejected on the network, which helps reduce the need for additional computing resources needed to manage the load. It uses Safecoin as a token to incentivize its contributors.

More information on MaidSafe is available at


Lisk is a blockchain application development and cryptocurrency platform. It allows developers to use JavaScript to build decentralized applications and host them in their respective sidechains. Lisk uses the Delegated Proof of Stake (DPOS) mechanism for consensus, whereby 101 nodes can be elected to secure the network and propose blocks. It uses the Node.js and JavaScript backend, while the frontend allows the use of standard technologies, such as CSS3, HTML5, and JavaScript. Lisk uses LSK coin as a currency on the blockchain. Another derivative of Lisk is Rise, which is a Lisk-based DApp and digital currency platform. It offers greater focus on the security of the system.


This is a blockchain protocol launched in January 2018, with its own cryptocurrency called EOS. EOS raised an incredible 4 billion USD in 2018 though its Initial Coin Offering (ICO). They key purpose behind EOS is, as stated by its founders, to build a decentralized operating system. Its throughput is significantly higher (approx. 3,996 transactions per second (TPS)) than other common blockchain platforms, such as Bitcoin (approx. 7 TPS) and Ethereum (approx. 15 TPS).

A practical introduction to these platforms and some others are provided in this book's bonus content pages, which can be found here:

Due to fast-paced innovation and the natural evolution of these platforms and blockchain in general, many innovative trends have emerged, which we explore in the next section.