What do you think?
Rate this book
BLOCKCHAIN TECHNOLOGY: The Ultimate Beginners Guide to Blockchain
Blockchain is a decentralized ledger of transactions. You can imagine blockchain as a large database of records that is managed by different people, including you – instead of counting on certain organizations to manage your data. You can think of it as a spreadsheet that is sent over a network of computers, which is made in order to regulate the spreadsheet so everybody can make sure every record in it is correct.
As what the term blockchain suggests, each procedure of every transaction is kept as a block, which links to everything that comes after it. The said blocks are then stored in a network where everyone has a copy of the block so that they can be easily accessed. However, each block is protected by a certain key, so it doesn’t get tampered by anyone within the network.
What does that mean, then? Currently, every file or record that is important to you is managed by an organization that you trust – banks, insurance providers, credit card companies, the government, human resources, and other similar bodies exist because of the value of trust that people give them. Because they operate with the virtue of trust, these organizations are the ones that manage most, if not all of the transactions that involve money. To make sure that your records and transactions are protected, your data is made safe in a centralized database that only certified personnel are authorized to access.
While, blockchain promises to distribute data in such a way that there is not a single processor that would be handling it. For example, instead of having one or a couple of servers storing data for an insurance, everybody that is joined to a network will have access to insurance data. Yes, that’s right – this would also mean that your data is going to be shared between several people that needs to come to an agreement on its integrity.
Blockchain may seem like a jargon at the moment, most of the things that you come across in your daily life are bound to be transformed by this concept. This seemingly imminent concept is already here and is little by little being adapted in economics, trade, and even in the most straightforward transactions that you do.
Chapter 1 - Implications of Big Data, Privacy, and Personal Data
Chapter 2 - Profiting from Blockchain Technologies
Chapter 3 - Blockchain and the Finance Industry
Chapter 4 - Blockchain and Industries Other Than Finance
Chapter 5 - Blockchain Development
Chapter 6 - The Future of Blockchain
Chapter 7 - Limitations & Challenges of Blockchain Technology
Chapter 8 - How to Profit from a Blockchain
As what the term blockchain suggests, each procedure of every transaction is kept as a block, which links to everything that comes after it. The said blocks are then stored in a network where everyone has a copy of the block so that they can be easily accessed. However, each block is protected by a certain key, so it doesn’t get tampered by anyone within the network.
What does that mean, then? Currently, every file or record that is important to you is managed by an organization that you trust – banks, insurance providers, credit card companies, the government, human resources, and other similar bodies exist because of the value of trust that people give them. Because they operate with the virtue of trust, these organizations are the ones that manage most, if not all of the transactions that involve money. To make sure that your records and transactions are protected, your data is made safe in a centralized database that only certified personnel are authorized to access.
While, blockchain promises to distribute data in such a way that there is not a single processor that would be handling it. For example, instead of having one or a couple of servers storing data for an insurance, everybody that is joined to a network will have access to insurance data. Yes, that’s right – this would also mean that your data is going to be shared between several people that needs to come to an agreement on its integrity.
Blockchain may seem like a jargon at the moment, most of the things that you come across in your daily life are bound to be transformed by this concept. This seemingly imminent concept is already here and is little by little being adapted in economics, trade, and even in the most straightforward transactions that you do.
Chapter 1 - Implications of Big Data, Privacy, and Personal Data
Chapter 2 - Profiting from Blockchain Technologies
Chapter 3 - Blockchain and the Finance Industry
Chapter 4 - Blockchain and Industries Other Than Finance
Chapter 5 - Blockchain Development
Chapter 6 - The Future of Blockchain
Chapter 7 - Limitations & Challenges of Blockchain Technology
Chapter 8 - How to Profit from a Blockchain
47 pages, Kindle Edition
Published February 24, 2019
2 people are currently reading
Ratings & Reviews
Friends & Following
Create a free account to discover what your friends think of this book!
Community Reviews
No one has reviewed this book yet.