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)
23
Index

Consensus Algorithms

Consensus is a fundamental problem in distributed systems. Since the 1970s this problem has been researched in the context of distributed systems, but recently, with the advent of blockchain technology, a renewed interest has arisen in developing distributed consensus algorithms that are suitable for blockchain networks. In this chapter, we will explore the underlying techniques behind distributed consensus algorithms, their inner workings, and new algorithms that have been specifically developed for blockchain networks.

In addition, we will introduce various well-known algorithms in a traditional distributed systems arena that can also be implemented in blockchain networks with some modifications, such as Paxos, Raft, and PBFT. We will also explore other mechanisms that have been introduced specifically for blockchain networks such as Proof of Work (PoW), Proof of Stake (PoS), and modified versions of traditional consensus such as Istanbul Byzantine Fault...