1 Blockchain basics
This chapter covers
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Understanding blockchain
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Discovering decentralized system infrastructure
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Exploring distributed ledger technology
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Analyzing trust-enabling protocol
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Motivating blockchain applications with real-world scenarios
In the latter part of 2008 and early 2009, centralized systems of the world’s financial markets--enabled by large intermediaries such as banks and investment firms--failed and began to crumble. Trust in these systems eroded, and panic set in all over the world with the collapse of financial markets. It was at this juncture that a mysterious person or persons introduced to the world a working model of a peer-to-peer decentralized digital currency system (with no central authority or administration) ...
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