Blockchain Basics: A Non-Technical Introduction in 25 Steps by Daniel Drescher

By Daniel Drescher

In 25 concise steps, you'll research the fundamentals of blockchain know-how. No mathematical formulation, application code, or laptop technology jargon are used. No earlier wisdom in computing device technological know-how, arithmetic, programming, or cryptography is needed. Terminology is defined via photos, analogies, and metaphors.

This publication bridges the space that exists among in simple terms technical books concerning the blockchain and merely business-focused books. It does so through explaining either the technical thoughts that make up the blockchain and their position in business-relevant applications.

What you will Learn

  • What the blockchain is
  • Why it really is wanted and what challenge it solves
  • Why there's quite a bit pleasure concerning the blockchain and its potential
  • Major elements and their purpose
  • How quite a few elements of the blockchain paintings and interact
  • Limitations, why they exist, and what has been performed to beat them
  • Major software scenarios

Who This e-book Is For

Everyone who desires to get a basic concept of what blockchain know-how is, the way it works, and the way it's going to almost certainly swap the economic system as we all know it

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Additional info for Blockchain Basics: A Non-Technical Introduction in 25 Steps

Sample text

Malicious Peers Malicious members are the second integrity threat in peer-to-peer systems. This source of untrustworthiness is not a technical problem, but rather a problem caused by the goals of the individuals who decide to exploit the system for their own purposes. One could say that this threat is more related to sociology and group dynamics than to technology. Dishonest and malicious peers comprise the most severe threat to the peer-to-peer system, because they attack the foundation on which any peer-to-peer system is built: trust.

Hence, A was able to sell his house twice by exploiting the fact that distributing information about his first sell requires time. But B and C cannot own the house at the same time. Only one of them is supposed to be the new and lawful owner. Hence, the situation is called the double spending problem. Blockchain Basics The Term Similar to the term blockchain, the term double spending is ambiguous as it is used to refer to the following concepts: • A problem caused by copying digital goods • A problem that may appear in distributed peer-to-peer systems of ledgers • An example of violated integrity in purely distributed peer-to-peer systems Double Spending as a Problem of Copying Digital Goods In the context of copying digital goods, the double spending problem refers to the fact that data on a computer can be copied without noticeable limitations.

Napster demonstrated the power of peer-to-peer systems as its file sharing system ushered in a new era for the business model of the traditional music industry, which mainly acted as a middleman between artists and consumers. • Every industry that mainly acts as a middleman between producers and customers of immaterial or digital goods and services is vulnerable to being replaced by peer-topeer systems. • A huge part of our financial system is simple intermediation between suppliers and consumers of money, which mainly exists as digital or immaterial good.

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