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The Long Road to Decentralization
內容大綱
Blockchain technology has been gaining popularity in recent years and has inspired both innovation and skepticism. Written for business decision makers and students, this text provides an overview of the history, current applications, and future potential of distributed ledgers and cryptocurrency. Strengths, weaknesses, growing opportunities, and potential threats are all discussed. This book keeps a business context in mind when introducing technical frameworks, helping strategists understand both risks and rewards of various blockchain implementation approaches as well as factors that influence whether or not this is a practical solution for current problems. Chapter 2 begins by discussing challenges of digital currency: knowing that a transaction has been completed correctly and being accepted as a symbol of value without recourse to traditional physical reserves. David Chaum's original ideas and principles of cryptography are described. An overview of the Cypherpunk movement is given. Satoshi Nakamoto's blockchain proof of concept finally put into place a working decentralized mechanism for the prevention of double spending via Bitcoin; features of Bitcoin are discussed. The chapter then explores Ethereum, the first blockchain infrastructure purpose-built for distributed computing. "Smart contracts" are rules for a transaction laid out in ledger's code and are essential to Ethereum. Cryptokitties is used as an example of smart contracts managing digital asset transactions. Past infighting within the Bitcoin and Ethereum communities is described. The expanding of blockchain technology into enterprise has a few unique challenges, especially privacy and verification. Permissioned blockchain solves those problems, replicating all the benefits of blockchain as a transparent, immutable record but eliminating the anonymity of users and open viewing of transactions and smart contracts.