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Learn the basics of blockchain technology in 25 concise steps. Featuring five additional steps, this updated version explores new developments within blockchain, such as Proof of Stake, Smart Contracts, Blockchain Oracles, Tokenization and Non-Functional Tokens, Decentralized Finance, Crypto Currencies, and Stable Coins.
Delivered in a light and conversational manner, author Daniel Drescher explains the fundamentals of software engineering, the required terminology, and points out the reasons why the blockchain is needed. Like the previous edition, no mathematical formulas, program code, or computer science jargon are used. No previous knowledge in computer science, mathematics, programming, or cryptography is required. Terminology is explained through pictures, analogies, and metaphors.
Using a fluent and straightforward approach, Blockchain Basics, Second Edition bridges the gap between purely technical and business-focused books by explaining both concepts and their roles in business-relevant applications.
What You'll Learn
· What the blockchain is, why it is needed, and what problems it solves
· Limitations, why they exist, and what has been done to overcome them
· Major application scenarios
· The value of Proof of Stake, Tokenization and Non-Functional Tokens, and Smart Contracts
Who This Book Is For
Everyone who wants to get a general idea
List of contents
Stage 1: Terminology and Technical Foundations.- Step 1: Thinking in Layers and Aspects.- Step 2: Seeing the Big Picture.- Step 3: Recognizing the Potential.- Stage 2: Why the Blockchain Is Needed.- Step 4: Discovering the Core Problem.- Step 5: Disambiguating the Term.- Step 6: Understanding the Nature of Ownership.- Step 7: Spending Money Twice.- Stage 3: How the Blockchain Works.- Step 8: Planning the Blockchain.- Step 9: Documenting Ownership.- Step 10: Hashing Data.- Step 11: Hashing in the Real World.- Step 12: Identifying and Protecting User Accounts.- Step 13: Authorizing Transactions.- Step 14: Storing Transaction Data.- Step 15: Using the Data Store.- Step 16: Protecting the Data Store.- Step 17: Distributing the Data Store Among Peers.- Step 18: Verifying and Adding Transactions.- Step 19: Choosing a Transaction History.- Step 20: Paying for Integrity.- Step 21: Bringing the Pieces Together.- Stage 4: Limitations and Their Solutions.- Step 22: Seeing the Limitations.- Step 23: Reinventing the Blockchain.- Stage 5: Using the Blockchain, Summary, and Outlook.- Step 24: Using the Blockchain.- Step 25: Summarizing and Going Further.- Stage 6: Beyond the Basics - An ultra short introduction to blockchain innovations that happened meanwhile.- Step 26: Using transactions to give orders, Content: Smart Contracts.- Step 27: Betting on blocks on the blockchain, Content: Proof of Stake.- Step 28: Finding alternative ways to consensus, Content: a short overview of alternative consensus machanisms.- Step 29: Connecting to the real world, Content: Blockchain Oracles.- Step 30: Using blockchain as consul of last resort, Content: State Channels .- Bibliography.
About the author
Daniel Drescher is an experienced banking professional who has held positions in electronic security trading in a range of banks. His recent activities have focused on automation, machine learning and big data in the context of security trading. Amongst others, Daniel holds a Doctorate in Econometrics from the Technical University of Berlin and an MSc in Software Engineering from the University of Oxford.
Summary
Learn the basics of blockchain technology in 25 concise steps. Featuring five additional steps, this updated version explores new developments within blockchain, such as Proof of Stake, Smart Contracts, Blockchain Oracles, Tokenization and Non-Functional Tokens, Decentralized Finance, Crypto Currencies, and Stable Coins.
Delivered in a light and conversational manner, author Daniel Drescher explains the fundamentals of software engineering, the required terminology, and points out the reasons why the blockchain is needed. Like the previous edition, no mathematical formulas, program code, or computer science jargon are used. No previous knowledge in computer science, mathematics, programming, or cryptography is required. Terminology is explained through pictures, analogies, and metaphors.
Using a fluent and straightforward approach, Blockchain Basics, Second Edition bridges the gap between purely technical and business-focused books by explaining both concepts and their roles in business-relevant applications.
What You'll Learn
· What the blockchain is, why it is needed, and what problems it solves
· Limitations, why they exist, and what has been done to overcome them
· Major application scenarios
· The value of Proof of Stake, Tokenization and Non-Functional Tokens, and Smart Contracts
Who This Book Is For
Everyone who wants to get a general idea of what blockchain technology is, how it works, and how it will potentially change the financial system as we know it
