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Blockchain Basics A Non-Technical Introduction in 25 Steps

:	Daniel Drescher
:	Blockchain Basics A Non-Technical Introduction in 25 Steps
:	Apress
:	9781484226049
:	1
:	CHF 31.20
:

:	Informatik
:	English

:	250
:	Wasserzeichen/DRM
:	PC/MAC/eReader/Tablet
:	PDF

In 25 concise steps, you will learn the basics of blockchain technology. No mathematical formulas, program code, or computer science jargon are used.No previous knowledge in computer science, mathematics, programming, or cryptography is required. Terminology is explained through pictures, analogies, and metaphors.

This book bridges the gap that exists between purely technical books about the blockchain and purely business-focused books. It does so by explaining both the technical concepts that make up the blockchain and their role in business-relevant applications.

What the blockchain is
Why it is needed and what problem it solves
Why there is so much excitement about the blockchain and its potential
Major components and their purpose
How various components of the blockchain work and interact
Limitati ns, why they exist, and what has been done to overcome them
Major application scenarios

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Who This Book Is For:

Everyon who wants to get a general idea of what blockchain technology is, how it works, and how it will potentially change the financial system as we know it

Daniel Drescher is an experienced banking professional who has held positions in electronic security trading in a range of banks. His recent activities have focused on automation, machine learning and big data in the context of security trading. Amongst others, Daniel holds a Doctorate in Econometrics from the Technical University of Berlin and an MSc in Software Engineering from the University of Oxford.

	Contents	5
	About the Author	7
	About the Technical Reviewer	8
	Introduction	9
	Stage I:Terminology and Technical Foundations	14
	Step1: Thinking in Layers and Aspects	15
	The Metaphor	16
	Layers of a Software System	16
	Application vs. Implementation	16
	Functional vs. Nonfunctional Aspects	17
	Considering Two Layers at the Same Time	17
	Integrity	18
	Outlook	19
	Summary	19
	Step2: Seeing the Big Picture	20
	The Metaphor	20
	A Payment System	21
	Two Types of Software Architecture	21
	The Advantages of Distributed Systems	23
	Higher Computing Power	23
	Cost Reduction	23
	Higher Reliability	23
	Ability to Grow Naturally	24
	The Disadvantages of Distributed Systems	24
	Coordination Overhead	24
	Communication Overhead	24
	Dependencies on Networks	25
	Higher Program Complexity	25
	Security Issues	25
	Distributed Peer-to-Peer Systems	25
	Mixing Centralized and Distributed Systems	26
	Identifying Distributed Systems	27
	The Purpose of the Blockchain	27
	Outlook	28
	Summary	28
	Step3: Recognizing the Potential	29
	The Metaphor	29
	How a Peer-to-Peer System Changed a Whole Industry	30
	The Potential of Peer-to-Peer Systems	31
	Terminology and the Link to the Blockchain	32
	The Definition of a Peer-to-Peer System	33
	Architecture of Peer-to-Peer Systems	33
	The Link Between Peer-to-Peer Systems and the Blockchain	34
	The Potential of the Blockchain	34
	Outlook	34
	Summary	35
	Stage II:Why the Blockchain Is Needed	36
	Step4: Discovering the Core Problem	37
	The Metaphor	37
	Trust and Integrity in Peer-to-Peer Systems	38
	Integrity Threats in Peer-to-Peer Systems	38
	Technical Failures	39
	Malicious Peers	39
	The Core Problem to Be Solved by the Blockchain	39
	Outlook	40
	Summary	40
	Step5: Disambiguating the Term	41
	The Term	41
	A Data Structure	42
	An Algorithm	42
	A Suite of Technologies	42
	An Umbrella Term for Purely Distributed Peer-to-Peer Systems with a Common Application Area	42
	The Usage of the Term in This Book	43
	Provisional Definition	43
	The Role of Managing Ownership	43
	The Application Area of the Blockchain in This Book	44
	Outlook	44
	Summary	45
	Step6: Understanding the Nature of Ownership	46
	The Metaphor	46
	Ownership and Witnesses	47
	Foundations of Ownership	48
	A Short Detour to Security	49
	Identification	50
	Authentication	50
	Authorization	50
	Purposes and Properties of a Ledger	51
	Ownership and the Blockchain	52
	Outlook	53
	Summary	53
	Step7: Spending Money Twice	55
	The Metaphor	55
	The Double Spending Problem	56
	The Term	57
	Double Spending as a Problem of Copying Digital Goods	57
	Double Spending as a Problem of Distributed Peer-to-Peer Systems of Ledgers	57
	Double Spending as an Example of Violated Integrity in Distributed Peer-to-Peer Systems	58
	How to Solve the Double Spending Problem	58
	Solving Double Spending as a Problem of Copying Digital Goods	58
	Solving Double Spending as a Problem of a Distributed Peer-to-Peer System of Ledgers	58
	Solving Double Spending as an Example of Violated Integrity in Distributed Peer-to-Peer Systems	59
	The Usage of Double Spending in This Book	59
	Outlook	59
	Summary	59
	Stage III:How the Blockchain Works	61
	Step8: Planning the Blockchain	62
	The Goal	62
	Starting Point	63
	The Path to Follow	63
	Task 1: Describing Ownership	64
	Task 2: Protecting Ownership	64
	Task 3: Storing Transaction Data	64
	Task 4: Preparing Ledgers to Be Distributed in an Untrustworthy Environment	65
	Task 5: Distributing the Ledgers	65
	Task 6: Adding New Transactions to the Ledgers	65
	Task 7: Deciding Which Ledgers Represent the Truth	66
	Outlook	66
	Summary	67
	Step9: Documenting Ownership	68
	The Metaphor	68
	The Goal	69
	The Challenge	69
	The Idea	69
	A Short Detour to Inventory and Transaction Data	69
	How It Works	70
	Describing the Transfer of Ownership	70
	Maintaining the History of Transfers	71
	Why It Works	71
	Importance of Ordering	71
	Integrity of the Transaction History	72
	Formal Correctness	72
	Semantic Correctness	72
	Authorization	73
	Outlook	73
	Summary	73
	Step10: Hashing Data	75
	The Metaphor	75
	The Goal	75
	How It Works	76
	Providing Hash Values for Any Data Quickly	76
	Deterministic	76
	Pseudorandom	77
	One-Way Function	77
	Collision Resistant	77
	Trying It Out Yourself	77
	Patterns of Hashing Data	79
	Independent Hashing	79
	Repeated Hashing