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

By Daniel Drescher

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

This publication bridges the distance that exists among in basic terms technical books in regards to the blockchain and basically business-focused books. It does so via explaining either the technical ideas that make up the blockchain and their function in business-relevant applications.

What you are going to Learn

  • What the blockchain is
  • Why it's 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 elements of the blockchain paintings and interact
  • Limitations, why they exist, and what has been performed to beat them
  • Major software scenarios

Who This booklet Is For

Everyone who desires to get a common concept of what blockchain know-how is, the way it works, and the way it's going to very likely swap the economic climate as we all know it

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

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It turns out that the blockchain-data-structure is the digital equivalent to a ledger. Steps 14 and 15 explain the requirement that the blockchain-data-structure has to fulfill in order to serve as a digital ledger and how it is implemented. 59 60 Step 8 | Planning the Blockchain Task 4: Preparing Ledgers to Be Distributed in an Untrustworthy Environment Having one isolated ledger or blockchain-data-structure that contains transaction data is great, but your aim is to design a distributed peer-to-peer system of ledgers that operates in an untrustworthy environment.

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.

Just in this moment the employee © Daniel Drescher 2017 D. 1007/978-1-4842-2604-9_6 40 Step 6 | Understanding the Nature of Ownership of the supermarket is looking at you and sees the apple in your bag, which happens to be the same kind of apples sold at the supermarket. What would the employee of the supermarket be thinking in this moment? He could falsely conclude from his observation that you may have stolen the apple from his store. Unfortunately, that supermarket does not have any supervision cameras or any security personnel, and you are the only customer at this moment.

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