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Blockchain: A Practical Guide to Developing Business, Law, and Technology Solutions
book

Blockchain: A Practical Guide to Developing Business, Law, and Technology Solutions

by Joseph J. Bambara, Paul R. Allen, Kedar Iyer, Rene Madsen, Solomon Lederer, Michael Wuehler
February 2018
Intermediate to advanced
320 pages
9h 56m
English
McGraw-Hill
Content preview from Blockchain: A Practical Guide to Developing Business, Law, and Technology Solutions

2   Business Use Cases

Currency and Tokens

When a conversation starts up on blockchain, it invariably turns to the subject of cryptocurrencies and just as quickly to the first and most widely known one, Bitcoin. Let’s take a deeper look at cryptocurrencies and how they relate to blockchain. But first, let’s review the essence of blockchain and why it works for cryptocurrencies and tokens:

•   It contains proof of all transactions on the network.

•   The truth/facts are permanent; they cannot be changed after they are committed.

•   It can be likened to a linked list; this helps to prove integrity as each verified block points back to a prior block.

•   The mining process (for Bitcoin) validates, verifies, and commits the block.

•   Automatic ...

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Publisher Resources

ISBN: 9781260115864