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    Blockchain for Beginners: Understand the Blockchain Basics and the Foundation of Bitcoin and Cryptocurrencies
    Blockchain for Beginners: Understand the Blockchain Basics and the Foundation of Bitcoin and Cryptocurrencies
    Blockchain for Beginners: Understand the Blockchain Basics and the Foundation of Bitcoin and Cryptocurrencies
    Ebook67 pages59 minutes

    Blockchain for Beginners: Understand the Blockchain Basics and the Foundation of Bitcoin and Cryptocurrencies

    By Kurt Dugan

    4.5/5

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    About this ebook

    Make Smart Investments by Understanding the Currencies of the Future
    Inside Beginners Guide to Blockchain Technology, you’ll discover a comprehensive introduction to the cryptocurrency revolution. From Initial Coin Offerings (ICOs) to blockchain-based applications, the new online marketplace requires new knowledge and skills.
    With this guide, you can take simple steps toward cryptocurrency savvy. You’ll find simple and actionable definitions for common blockchain terms and concepts. This book includes simple, easy-to-understand descriptions of the inner workings of the currencies of tomorrow.
    You’ll discover:
    • The Fundamentals of Blockchain Technology
    • The Underlying Mechanisms of Blockchain Transactions
    • Why Shared Distributed Ledgers Create New Opportunities
    • The Function of Nodes in Cryptocurrency Networks
    • The Process of Joining a Blockchain System
    • How Blockchain Consensus Stabilizes Cryptocurrencies
    Before you make an investment decision about blockchain currencies, you need to know the facts. Educate yourself about distributed ledger technology, permissions, and transaction validation. Use this book to wrap your head around mathematical algorithms like Proof of Work, Proof of Stake, Proof of Burn, Multi-Signatures, and Practical Byzantine Fault Tolerance. You’ll even learn about blockchain forks – and how currency systems identify and resolve them.
    With this book, you can learn the ins and outs of blockchain functionality before making your cryptocurrency investing decisions.
    Don’t miss out on this valuable opportunity to make the most of the blockchain financial revolution. Get your copy of Beginners Guide to Blockchain Technology today!
    It’s fast and easy to order – Simple scroll up and click the BUY NOW WITH ONE CLICK button on the right-hand side of your screen.
    LanguageEnglish
    PublisherCRB Publishing
    Release dateMay 8, 2018
    ISBN9788828321026
    Blockchain for Beginners: Understand the Blockchain Basics and the Foundation of Bitcoin and Cryptocurrencies

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    Reviews for Blockchain for Beginners

    4.5/5

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    • 4/5
      One of the best I found so far in Scribd
    • 5/5
      A very informative introduction to Blockchain for the absolute beginner.
    • 5/5
      Very good primer on blockchain. The explanations were simple enough to understand without needing a lot of prior experience or knowledge. Would highly recommend for anyone wanting to learn about blockchain from the basics.
    • 5/5
      Really useful book. Highly recommended for first read on Blockchain

    Book preview

    Blockchain for Beginners - Kurt Dugan

    Beginners Guide to

    BLOCKCHAIN TECHNOLOGY

    Kurt Dugan

    Copyright © 2018 by Kurt Dugan.

    All rights reserved.

    No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law.

    For permission requests, please write to the publisher.

    Table of Contents

    Introduction

    CHAPTER ONE

    Introduction to Blockchains

    Definition

    Blockchain Fundamentals

    History of Blockchains

    Chapter Two

    How the Blockchain Technology Works

    Cryptographic Keys:

    P2P Networks:

    Network Servicing Protocol:

    Features of a Blockchain

    Structure of a Blockchain

    Parent-Child Relationship

    Structure of a Block

    Chapter Three

    Joining a Blockchain

    Functions of Nodes in the Blockchain

    Types of Nodes

    The Extended Blockchain Network

    Components of the Extended Blockchain Network

    Chapter Four

    Understanding Blockchain Transactions

    What is a Transaction?

    Blockchain Transaction Lifecycle

    The Blockchain Transaction Verification Process

    What is Blockchain Mining?

    Steps involved in Verifying a Blockchain Transaction

    Chapter Five

    Understanding Blockchain Consensus

    What is a Consensus?

    Formation of the Majority Consensus

    Blockchain Classification

    The Longest Chain Rule

    Blockchain Forks

    Conclusion

    Introduction

    The internet is absolutely filled these days with the buzz of blockchains and how they are changing the world. From the humble beginnings of Satoshi Nakamoto’s iconic white paper on bitcoin to the enormous market capitalization and capital raising figures posted by cryptocurrencies and ICOs (Initial Coin Offerings) this year 2017 alone, one thing is clear – blockchain technology is here to stay!

    No longer is the technology the exclusive preserve of computer hobbyists and digital currency enthusiasts as more and more industries are finding new and intuitive ways to take advantage of the technology. Entrepreneurs, Organizations and even Government agencies are making significant inroads into expanding the applicability of blockchain technology.

    With all of these developments happening ever so quickly, it is important to gain the necessary background knowledge on the basics of the technology. While it involves a great deal of technical knowledge, it is indeed possible for even a complete computer neophyte to get a firm understanding of the concepts and features of blockchains.

    The book is written in a manner that is simple to understand. Technical concepts have been fleshed out and explained in such a way as not to be confusing for beginners.

    CHAPTER ONE

    Introduction to Blockchains

    These days, the internet is seemingly saturated with several examples of blockchains. No matter where you turn on the social web, there are posts dedicated to different cryptocurrencies, ICOs (Initial Coin Offerings), and blockchain-based applications, just to mention a few. Blockchain technology is arguably one of the most popular emerging technologies in the world today. It has single-handedly ushered the world into another phase of computer technology that has resulted in sweeping changes across many spheres of human endeavor. Individuals, Entrepreneurs, Corporations and even Governments are investing time, effort and resources into developing more intuitive blockchain applications to provide solutions for diverse problems.

    Definition

    Ever wondered why it is called a blockchain? Well, blockchains literally owe their names to

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