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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

Summary


This chapter started by introducing a history of smart contracts, and was followed by a detailed discussion on the definition of a smart contract. As there is no agreement on the standard definition of a smart contract, we attempted to introduce a definition that encompasses the crux of smart contracts. An introduction to Ricardian contracts was also provided, and the difference between Ricardian contracts and smart contracts was explained, highlighting the fact that Ricardian contracts are concerned with the definition of the contract whereas smart contracts are geared towards the actual execution of the contract. The concept of smart contract templates was discussed, on the subject of which high quality active research is currently being conducted in academia and industry. Some ideas about the possibility of creating high level domain-specific languages were also discussed to create smart contracts or smart contract templates. In later sections of the chapter, the concepts of Oracles...

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