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

By Daniel Drescher

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

This ebook bridges the distance that exists among only technical books in regards to the blockchain and only business-focused books. It does so by means of explaining either the technical options that make up the blockchain and their function in business-relevant applications.

What you are going to Learn

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

Who This publication Is For

Everyone who desires to get a basic proposal of what blockchain expertise is, the way it works, and the way it's going to possibly switch the economy as we all know it

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

Example text

Since purely distributed peer-to-peer systems may use the blockchain for achieving and maintaining integrity, the blockchain becomes important as well. However, the major fact that excites people is the disintermediation. The blockchain is only a means to an end that helps to achieve that. ■■Note The excitement about the blockchain is based on its ability to serve as a tool for achieving and maintaining integrity in purely distributed peer-to-peer systems that have the potential to change whole industries due to disintermediation.

Besides being technically possible, the copying of digital money violates the core principle of money: an identical piece of money cannot be given to different people at the same time. The ability to copy and spend digital money multiple times renders the money useless, hence, the double spending problem. Double Spending as a Problem of Distributed Peer-to-Peer Systems of Ledgers When used to describe the problem of a distributed peer-to-peer system of ledgers, double spending problem refers to the fact that forwarding information to all elements of such a system requires time, thus not all peers have the same ownership information at the same time.

I found ledgers for documenting ownership of real estate, patents, ships, airplanes, and companies. I even found registers for marriages, births, and deaths. Figure 6-1 depicts the relation of the different concepts involved when designing software for managing ownership. 41 42 Step 6 | Understanding the Nature of Ownership Figure 6-1. Concepts of ownership In Figure 6-1, the concepts in the top layers are more general than those in the lower layers. The concepts on each layer can be seen as realizations of the concepts in layers above them.

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