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Mastering Blockchain

Mastering Blockchain

3.3 (10)
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Mastering Blockchain

Mastering Blockchain

3.3 (10)

Overview of this book

Blockchain is a distributed database that enables permanent, transparent, and secure storage of data. The blockchain technology is the backbone of cryptocurrency – in fact, it’s the shared public ledger upon which the entire Bitcoin network relies – and it’s gaining popularity with people who work in finance, government, and the arts. Blockhchain technology uses cryptography to keep data secure. This book gives a detailed description of this leading technology and its implementation in the real world. This book begins with the technical foundations of blockchain, teaching you the fundamentals of cryptography and how it keeps data secure. You will learn about the mechanisms behind cryptocurrencies and how to develop applications using Ethereum, a decentralized virtual machine. You will explore different blockchain solutions and get an exclusive preview into Hyperledger, an upcoming blockchain solution from IBM and the Linux Foundation. You will also be shown how to implement blockchain beyond currencies, scability with blockchain, and the future scope of this fascinating and powerful technology.
Table of Contents (14 chapters)
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10
10. Alternative Blockchains
12
12. Scalability and Other Challenges

Blockchain and full ecosystem decentralization


In order to achieve complete decentralization, it is necessary that the environment around the blockchain is also decentralized. Blockchain itself is a distributed ledger that runs on top of conventional systems. These elements include storage, communication, and computation. There are other factors, such as Identity and Wealth, that are traditionally based on centralized paradigms and there's a need to decentralize these aspects too in order to achieve a fully decentralized ecosystem.

Storage

Data can be stored directly in a blockchain, and with this, it does achieve decentralization, but a major disadvantage of this approach is that blockchain is not suitable for storing large amounts of data by design. It can store simple transactions and some arbitrary data but is certainly not suitable for storing images or large blobs of data, as is the case in traditional database systems. A better alternative is to use distributed hash tables (DHTs). DHTs...

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