Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    From $11.99/month after trial. Cancel anytime.

    Blockchain
    Blockchain
    Blockchain
    Ebook33 pages23 minutes

    Blockchain

    By IntroBooks Team

    ()

    Read preview

    About this ebook

    Cryptography is a direct link to the blockchain world. A blockchain is resistant to modification of the data and it is an open distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. If simply understood, it is a growing list of records called blocks. And each block is a cryptographic hash of the previous block, a timestamp and transaction data. Blockchain was invented by a group of people called Satoshi Nakamoto in 2008 to serve as a public transaction of cryptocurrency bitcoin. The identity of that group called Satoshi Nakamoto is still unknown. The invention of blockchain in reference to bitcoin made it the first currency or digital currency to solve the double-spending problem without a need of a trusted authority or central server. Blockchain is also considered as a payment rail. There is no security in this chain, so some time computer world marketing also called it snake oil.

    LanguageEnglish
    PublisherIntroBooks
    Release dateApr 28, 2020
    ISBN9781393600299
    Blockchain

    Read more from Intro Books Team

    Related to Blockchain

    Related ebooks

    Computers For You

    View More
    View More

    Related podcast episodes

    Related categories

    Reviews for Blockchain

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      Blockchain - IntroBooks Team

      Blockchain

      IntroBooks #636

      http://readintrobooks.com/

      Copyright © 2019 IntroBooks

      All rights reserved.

      Preface

      Cryptography is a direct link to the blockchain world. A blockchain is resistant to modification of the data and it is an open distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. If simply understood, it is a growing list of records called blocks. And each block is a cryptographic hash of the previous block, a timestamp and transaction data. Blockchain was invented by a group of people called Satoshi Nakamoto in 2008 to serve as a public transaction of cryptocurrency bitcoin. The identity of that group called Satoshi Nakamoto is still unknown. The invention of blockchain in reference to bitcoin made it the first currency or digital currency to solve the double-spending problem without a need of a trusted authority or central server. Blockchain is also considered as a payment rail. There is no security in this chain, so some time computer world marketing also called it snake oil.

      Summary

      Blockchain is invented by a group of people known as Satoshi Nakamoto. They are still unknown to anyone, but here main moto to create these blockchain gateways for the cryptocurrency is to stop the double-spending problem. It is also a growing list of records, called blocks which are linked using cryptography. Blockchain is considered as a type of payment rail. Private blockchains have been proposed for business uses also. They don’t have a proper security model, so they were called snake oil.

      Let’s talk about the history of blockchain and from where it comes into recognition. The very first work on cryptographically secured chains of blocks was described by W. Scott and Stuart Haber in 1991. They design so that the files or documents could not be tampered or misused. The first blockchain was conceptualized as we know by Satoshi and they improvised the design in an important way using a hashcash like to add blocks to the

      Enjoying the preview?
      Page 1 of 1