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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

Chapter 4. Bitcoin

Bitcoin is the first application of the blockchain technology. In this chapter, readers will be introduced to bitcoin technology in detail.

Bitcoin has started a revolution with the introduction of the very first fully decentralized digital currency, and one that has proven to be extremely secure and stable. This has also sparked a great interest in academic and industrial research and introduced many new research areas. Since its introduction in 2008, bitcoin has gained much popularity and is currently the most successful digital currency in the world with billions of dollars invested in it. It is built on decades of research in the field of cryptography, digital cash, and distributed computing. In the following section, a brief history is presented in order to provide the background required to understand the foundations behind the invention of bitcoin.

Digital currencies have always been an active area of research for many decades. Early proposals to create...

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