Название: UnBlock the Blockchain
Автор: Nitin Upadhyay
Издательство: Springer
Год: 2019
Страниц: 125
Язык: английский
Формат: pdf (true), epub
Размер: 10.1 MB

This book presents a state-of-the-art overview of blockchains, a significant innovation that has already started to redesign business, social and political interactions. The technology is attracting considerable interest among researchers in industry and academia wanting to study and leverage the potential of blockchains to provide a decentralized and distributed public ledger for all the participating parties. Comprehensively discussing the current and future challenges, opportunities, applications, business models and values, the book appeals to diverse stakeholders, scholars, practitioners and business leaders interested in blockchains.

The advocates of the blockchain technology argue that it has the potential to promise the trust-free economic transactions. Moreover, Gartner claims that blockchain technology, in the near future, will impact the business and currently considered as the most trending technology. The blockchain technology is continuously evolving since it was coined in the year 2008, and researchers, scholars, and practitioners are finding new ways of working with the blockchain technology. Bitcoin is the first decentralized peer-to-peer application of the blockchain gained immediate fame. Through Bitcoin, it becomes possible to perform transactions of value, including buying and exchanging of goods and services, via digital transaction using digital currencies. The applications of the blockchain are not limited to the financial services, and evidence have shown its widespread coverage to various domains that coordinated the valuable information and governed by central authority and intermediaries. To perform the transaction of any asset digitally, it requires two foundational principle - distributed consensus and anonymity.

One can track, identify, and verify the historical transactions of value by leveraging the distributed consensus model. Blockchain technology maintains the ever-growing list of records in a decentralized, distributed fashion confirming to the participating nodes. All the participating nodes in the blockchain network have access to the single version of the truth, and the information about every transaction is placed and is available in a public ledger. Moreover, the participating nodes are treated as anonymous. Despite having high expectations from the blockchain technology, there is a lack of knowledge to understand the challenges, potential opportunities, and applications.