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)

Introducing altcoins

Currently, as of mid-2020, there are thousands of altcoins on the market, and they hold some monetary value, such as Namecoin, Zcash, Litecoin, and many others. Zcash is a more successful altcoin, introduced in 2016. On the other hand, Primecoin did not gain much popularity, but it is still in use. Many of these alternative projects are direct forks of Bitcoin source code, although some have been written from scratch. Some altcoins set out to address Bitcoin limitations such as privacy. Some others offer different types of mining, changes in block times, and distribution schemes.

By definition, an altcoin is generated in the case of a hard fork. If Bitcoin has a harder fork, then the other, older chain is effectively considered another coin. However, there is no established rule as to which chain becomes the altcoin. This has happened with Ethereum, where a hard fork caused a new currency, Ethereum Classic (ETC), to come into existence...