Blockchain: Foundation, Principles and Applications

A clear and authoritative introduction to the theory and science underlying blockchain technology

Blockchain, initially created as the public transaction ledger of the cryptocurrency Bitcoin, is spreading across banking, trade, and finance sectors worldwide at unprecedented speed and scale. Yet no single definition or accepted standard for blockchain currently exists. Blockchain: Foundation, Principles and Applications provides a systematic introduction to the theoretical foundation of the various components used in blockchain implementations while clarifying the confusion and misunderstandings surrounding the technology.

Written by an internationally-recognized expert on distributed ledger technology, this timely book enables practitioners with minimal knowledge of the technology to evaluate the performance, security, and real-world implications of any blockchain implementation. The text presents in-depth yet accessible technical information on the blockchain peer-to-peer network, cryptographic hash functions, contract programmability, consensus protocol, tokenization, metadata storage, and more. Throughout the book, illustrative examples and lucid analogies make abstract concepts in theoretical computer science and communications theory easy to understand, supported by graphs, tables, relevant mathematical equations, chapter summaries, and full references. This authoritative volume:

• Outlines the history and development of blockchain, from its original introduction in Bitcoin to the present-day state of the technology
• Offers a unifying definition for blockchain based on common characteristics of known constructions
• Discusses the strengths and limitations of using blockchain for a range of current and proposed applications
• Highlights the criteria for meeting the requirements of various blockchain applications
• Discusses and compares the design variations of blockchain characteristics, including smart contract functionality and proof-of-work hash chains

Blockchain: Foundation, Principles and Application is an invaluable source of up-to-date information for students, developers, and managers with little knowledge of blockchain wanting to understand the technology or use it for their applications.