March 2018
Beginner to intermediate
656 pages
20h 9m
English
Content preview from Mastering Blockchain - Second Edition
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
Start your free trial
The decentralization framework example
Let's evaluate a money transfer system as an example of an application selected to be decentralized. The four questions discussed previously are used to evaluate the decentralization requirements of this application. The answers to these questions are as follows:
- Money transfer system
- Disintermediation
- Bitcoin
- Atomicity
The responses indicate that the money transfer system can be decentralized by removing the intermediary, implemented on the Bitcoin blockchain, and that a security guarantee will be provided via atomicity. Atomicity will ensure that transactions execute successfully in full or not execute at all. We have chosen Bitcoin blockchain because it is the longest established blockchain which ...