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
How to decentralize
Arvind Narayanan and others have proposed a framework in their book, Bitcoin and Cryptocurrency Technologies, Princeton University Press, that can be used to evaluate the decentralization requirements of a variety of issues in the context of blockchain technology. The framework raises four questions whose answers provide a clear understanding as to how a system can be decentralized:
- What is being decentralized?
- What level of decentralization is required?
- What blockchain is used?
- What security mechanism is used?
The first question simply asks you to identify what system is being decentralized. This can be any system, such as an identity system or a trading system.
The second question asks you to specify the level of decentralization ...