Introducing Blockchain Applications
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Blockchain Applications
We have written this textbook, as part of our expanding "A Hands-On Approach"(TM) series, to serve as a textbook for senior-level and graduate-level courses on financial and regulation technologies, business analytics, Internet of Things, and cryptocurrency.
Blockchain Technology and Applications
Blockchain is an emerging technology that can radically improve transactions security at banking, supply chain, and other transaction networks. It’s estimated that Blockchain will generate $3.1 trillion in new business value by 2030. Essentially, it provides the basis for a dynamic distributed ledger that can be applied to save time when recording transactions between parties, remove costs associated with intermediaries, and reduce risks of fraud and tampering. This book explores the fundamentals and applications of Blockchain technology. Readers will learn about the decentralized peer-to-peer network, distributed ledger, and the trust model that defines Blockchain technology. They will also be introduced to the basic components of Blockchain (transaction, block, block header, and the chain), its operations (hashing, verification, validation, and consensus model), underlying algorithms, and essentials of trust (hard fork and soft fork). Private and public Blockchain networks similar to Bitcoin and Ethereum will be introduced, as will concepts of Smart Contracts, Proof of Work and Proof of Stack, and cryptocurrency including Facebook’s Libra will be elucidated. Also, the book will address the relationship between Blockchain technology, Internet of Things (IoT), Artificial Intelligence (AI), Cybersecurity, Digital Transformation and Quantum Computing.Readers will understand the inner workings and applications of this disruptive technology and its potential impact on all aspects of the business world and society. A look at the future trends of Blockchain Technology will be presented in the book.
Introducing Blockchain Applications
Deepen your understanding of blockchain technology and develop your own blockchain applications. This book provides a thorough review of distribution-based systems on blockchain technology, starting from the fundamental concepts that underlie it, all the way through the implementation of a blockchain network for business purposes. Author Joseph Thachil George begins by introducing you to blockchain and some basic concepts of technology, including distributed systems, systems of systems, cyber-physical systems, the Byzantine Consensus, the CAP theorem, and cryptographic techniques. Next, he analyzes the structure of blocks and smart contracts and the mother of all blockchain platforms, Bitcoin. That sets the stage for an examination of transaction structure, validation, and flow, from creation to registration in the ledger and structure of the blocks, the Nakamoto consensus, and finally forks. From there, you'll experience a deep dive into Ethereum; including the concepts of Gas and Message, smart contracts and the Ethereum virtual machine. From there, you'll learn about the Ethereum consensus protocol, Ethereum Casper, and the Ethereum Proof-of-Stake algorithm. You'll then see how blockchain can be connected to a distributed system, followed by a demonstration of how you can model a distributed system using Blockly4SoS and Kilobots. The concluding chapters offer a practical example that combines distributed systems with blockchain technology. After reading this book, you will understand how to implement blockchain technology in a distributed system and be able to leverage this knowledge in your own projects. You will: Learn the concept of blockchains by way of a practical example Grasp the connection between distributed systems and blockchain technology Learn the design of blockchain with hyperledger fabric Learn the design of cyber-physical systems in a distributed environment .