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    Introduction To Blockchain: Learn In Depth About The Fundamentals Of Blockchain, Blockchain Architecture And Various Blockchain Use Cases
    Introduction To Blockchain: Learn In Depth About The Fundamentals Of Blockchain, Blockchain Architecture And Various Blockchain Use Cases
    Introduction To Blockchain: Learn In Depth About The Fundamentals Of Blockchain, Blockchain Architecture And Various Blockchain Use Cases
    Ebook174 pages2 hours

    Introduction To Blockchain: Learn In Depth About The Fundamentals Of Blockchain, Blockchain Architecture And Various Blockchain Use Cases

    By BHARAT NISHAD

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    About this ebook

    Learn Blockchain from the professionals in the field! Learn the fundamental ideas of blockchain in-depth and in plain English.

    The Complete Blockchain Professional Course is a warm welcome. Although many people have heard of blockchain, many are unaware of its specifics. This course has been created so that you will have a complete grasp o

    LanguageEnglish
    PublisherBHARAT NISHAD
    Release dateSep 30, 2023
    ISBN9781088112403
    Introduction To Blockchain: Learn In Depth About The Fundamentals Of Blockchain, Blockchain Architecture And Various Blockchain Use Cases

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      Book preview

      Introduction To Blockchain - BHARAT NISHAD

      Introduction To Blockchain: A Revolutionary Technology

      Learn In Depth About The Fundamentals Of Blockchain, Blockchain Architecture And Various Blockchain Use Cases

      What You'll Learn

      You will have a strong understanding about what Blockchain is

      Able to understand how Blockchain is being used in various sectors of the industries

      Know the step wise process which is required for designing a Blockchain solution

      Learn about various types of Consensus Mechanisms

      Understand the Blockchain Architecture

      Learn about where we can utilise Blockchain with the help of the potential Use Cases

      Learn about the limitations of Blockchain

      Know about the difference between Blockchain, DAG and Hashgraphs

      Get the exposure on how you can employ Blockchain in your current legacy systems

      Get the in-depth knowledge about the key concepts of Blockchain

      Understand Blockchain smart contracts

      About

      Learn Blockchain from the professionals in the field! Learn the fundamental ideas of blockchain in-depth and in plain English.

      The Complete Blockchain Professional Course is a warm welcome. Although many people have heard of blockchain, many are unaware of its specifics. This course has been created so that you will have a complete grasp of how Blockchain Technology is being utilised to address a variety of issues that industries are currently facing. This is a highly thorough course that clearly teaches all the concepts and foundations of blockchain technology.

      Jobs in the blockchain industry increased by 7000% in 2018 and by another 517 percent in 2019. There is only 1 worker available to take up a career in blockchain technology for every 14 positions in the USA. In practically every worldwide area, the top three job vacancies are those requiring blockchain expertise.

      You will get more clarity and will be able to master all the important topics related to Blockchain.

      Who This Book Is For

      Developers curious to learn about Blockchain

      Students curious to learn about Blockchain

      Architects curious to learn about Blockchain

      Consultants curious to learn about Blockchain

      Industries curious to learn about various Blockchain Use Cases

      Managers curious to build Blockchain systems

      People curious to start their career in Blockchain

      Introduction

      In this chapter, we'll examine the fundamentals of cryptography, talk about distributed ledger technology, and examine how cryptography underpins the Blockchain. In the Chapters that follow, we'll take a quick look at hashing before delving more into the many aspects of cryptography, such as encryption and digital signatures.

      Following that, we'll talk about controlled and decentralised ledgers as well as computation, data processing, transactions, and commerce. Peer-to-peer networks and distributed ledger technology (DLT) will be covered in more detail.

      Fundamentals of Cryptography

      We will respond to the following inquiries at this location on the Blockchain. What is a blockchain, exactly?

      How does blockchain technology benefit from cryptography?

      DLT stands for Distributed Ledger Technology.

      What characteristics does Blockchain have?

      What is included in a cryptography ecosystem?

      The Blockchain is frequently built atop a cryptographic foundation to increase its security, resilience, and resistance to security assaults, operational bottlenecks, and processing delays. Let's try to comprehend what Blockchain is before continuing. Similar to previous information systems that process data on servers and describe the kind of processing that is done, blockchain is an information system.

      After the invention of computers and the first networks in the early 1960s and 1970s, when all nodes—or, to be more exact, all terminals—were connected to a single server, we saw a spike in networks, information systems, and centralised processing. The data will be processed by this server, which will subsequently give the results to the clients.

      On the other side, we have seen networks go to the point of decentralised processing as they have grown. We have seen several servers interacting over larger networks, and each network consists of a server and its clients. Actually, each of these servers was unique and dispersed around the globe as the Internet grew provides a visual illustration of the various network kinds. Additionally, wide-area networking was used to connect them all.

      The data processing may have been made possible by the servers' capacity to maintain synchronisation across networks and geographical areas. Since blockchain is based on distributed technology or networks, all data is managed effectively across all nodes that are dispersed throughout multiple places and geographies. Think of Blockchain as a ledger, transactional schema, and database of previous and ongoing financial transactions. and all nodes may access this transactional schema.

      This makes the claim that transactions are duplicated across the distributed nodes true. Blockchain is also known as distributed ledger technology since this is its main characteristic. We shall see Blockchain as a distributed ledger-based information system that processes data in the form of transactions that are essentially duplicated and dispersed around the distributed and linked network in order to better comprehend it. The Blockchain is stronger as a result.

      Blockchain Features

      Two further characteristics of blockchain are emphasised. But blockchain is capable of far more than just resilience. Another benefit of blockchain technology is immutability. Any modifications to one transaction need changes to all prior transactions as well since the blockchain is immutable. The avalanche effect is what we term this. Due to the fact that a single update results in dozens, hundreds, or even millions of revisions, the blockchain is unchangeable. It is more crucial that these transactions be time-stamped since it prevents problems with similar priority and sequencing.

      The capacity for transactions to remain anonymous is another crucial aspect of blockchain technology. Users are clearly not required to divulge their identities, according to the Blockchain. Users can choose to conduct transactions using either a cryptographic identity or a digital identity. This all contributes to a key aspect of Blockchains becoming increasingly safe since the data is encrypted. Since it cannot be decoded, the data is not any more secure. Due to the hierarchy of encryptions in use and the fact that only parties with the proper authorization may decode the data, the system is more secure than a conventional one.

      Being programmable, or malleable to whatever business logic you desire to incorporate, is one of blockchain's key benefits. Future modules will allow you to build multiple business cases utilising the blockchain's technological underpinnings or platform, allowing you to utilise immutability as a blockchain feature and apply it to your own business case.

      Finally, consideration is being given to Blockchain's most crucial component, its cryptographic underpinning. Anonymization is the Blockchain's cryptographic use case, in which users' actual or imagined identities are concealed. This essentially implies that users are not required to disclose their true identities. The principles of digital signatures are widely used for this; you are just needed to disclose your public key and are free to conceal your genuine identity. As a result, blockchains are better understood. Consider the bitcoin example. Bitcoins are anonymous, even though anybody may exchange them. We reach a crucial conclusion as a result of the fact that the papers are so secure that only authorised people may access and process them.

      Hierarchical Encryption

      The architecture of the structure used to encrypt the data is shown graphically. Using several encryption strengths, including an asymmetric one, this structure safeguards the data both while it is in transit and when it is at rest. In this situation, public-key cryptography is employed to make sure that the data may reach any node while remaining unavailable to all nodes other than the lawful owner or the suitable node.

      The immutability of the blockchain, which primarily uses encryption, is highlighted. This argues that since the status of the data is so irrevocable that you can't modify it, even if you try to change only one transaction, you end up affecting millions of transactions. As a result, the potential of a modification is all but eliminated since in order to properly make one adjustment in one transaction, you must update the data and all copies of the data across all nodes. Since there will be an avalanche effect, it is difficult to adapt theoretically, but we'll see what will change in actuality. Hashing is used to accomplish this. Data security through hashing is a key function of blockchain technology that prevents data from being changed or deleted. The system or the state of the system can only be changed by adding a new record. The system becomes immutable as a result of this as well.

      The basic elements of the cryptographic environment are the cryptographic ecosystem, which includes hashing, digital signatures, symmetric and asymmetric structures, and other concepts. We can successfully incorporate security in Blockchain thanks to these frameworks. Digital signatures are frequently used to enable the installation of a digital identity when users are not forced to disclose their legal or private identities. Instead, people can use a digital identity to go and take part in the transactions.

      The public key is essentially the digital identity. If you want to think of the Blockchain as a cryptographic system, picture each user having their own key pair, with the private key being used to decode data on the system's internal network and the public key being a key that each user in the system receives for a number of purposes. As a result, you are protected from having to reveal your identity. Non-repudiation is a key function of digital signatures. Even if the person or the node disagrees, non-repudiation guarantees that the transaction initiator does not reverse his transaction, they cannot challenge this transaction, and we can readily identify who has started the transaction. A digital signature and public keys are used to accomplish this.

      Hashing, a fundamental component of the Blockchain, may also be used to validate digital signatures. It is highlighted that hashing improves system predictability since it results in a unique hash for each unique set of data. The same hash cannot be produced by different input texts. This makes the idea of a finite output for a certain input easier to understand. Hashing also has the advantage that any modifications to one transaction will have an impact on all subsequent transactions across all nodes. This implies that there will be nothing we can change. Given that each separate data input has a set data length, this is a distinct and more relevant use case for hashing. With this feature, we may send this hash to identify the problematic transaction without sending the complete data set. We can process an increasing number of transactions more rapidly by transferring fixed-length data instead of transactions with variable duration.

      Think of data mining as the process of figuring out which node should be impacted by a specific transaction by solving a mathematical puzzle. Hashing is useful when creating different challenges for data mining.

      Important cryptography-related subjects Diagrams that demonstrate technical or conceptual flow with arrows after each subsection shouldn't be utilised as summaries. The arrows make it easier to see how the subjects in that paragraph are presented in order.

      Hashing And Public Key Cryptography

      The blockchain concept is a distributed ledger, which essentially implies that the network is dispersed over several countries and regions, if we consider it as a whole. Therefore, when there are this many nodes participating in the decision-making process, developing

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