Introduction to Blockchain Technology

• Main Author: Banafa, Ahmed
• Format: eBook
• Language: English
• Published: United Kingdom River Publishers 2023
• Edition: 1
• Series: River Publishers Series in Rapids in Computing and Information Science and Technology
• Subjects: Blockchains (Databases); Computer programming, programs, data; Computing and Processing; General Engineering & Project Administration; General References; Software Engineering; Bitcoin Community; Current Computing Tools; Blockchain; Full Node; State Transition Functions; Smart Contracts; Owner Ship; Decentralized Applications; BFT; Consensus Algorithm; Consensus Protocols; Byzantine Generals Problem; Double Spending; Decentralized Storage; Cryptography; Cryptographic Token; Blockchain Technology; Quantum Computing; Minority Portion; Gossip Protocol; Traditional Web Application; Blockchain Application; P2P Network; Protocol Revisions; DAO; Renewable Energy Certificates; Decentralized Autonomous Organization
• ISBN: 9781000922677; 1000922677; 9788770221603; 877022160X
• DOI: 10.1201/9781003426264

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. Blockchain is an emerging technology that can radically improve transaction 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.