If you have been keen on the internet recently, wandering, groping and flying all over therein, there are high chances you have come face to face with the terms blockchain or cryptocurrency more than a couple of times. It occurred to me and I needed to find out what they were all about. After a couple of jargons down the road, it was almost overwhelming but I kept the faith that most will be comprehended sooner than later.
Still on the same tumultuous journey, here are a few tidbits I managed to harvest about blockchain and Cryptocurrency technologies. According to IBM, Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. In words used in its application in cryptocurrency: It is an open, distributed ledger that records transactions in code. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved.
It is some sort of an electronic decentralized database (spread across geographical regions or datacenters) that collects information together in groups (blocks), holding given sets of data. These groups (blocks) have certain storage capacities and, when filled, are chained onto the previously filled block, forming a chain of data known as the “blockchain.” It is like a checkbook that is distributed across many computer systems around the globe.
So what about Cryptocurrency?
This is most likely the next question one will ask after having some light sprinkled in the darkness of blockchain. Now, cryptocurrency is another technology altogether. The only thing that links blockchain and cryptocurrency is that cryptocurrency relies on blockchain. So let us go ahead and demystify Cryptocurrency.
Cryptocurrency like the, Dollar or Euro, is a means of exchange in trade. The only difference is that Cryptocurrency is completely electronic and there is no central body that manages and maintains its value. Their value is distributed among all of its users via the internet. Satoshi Nakamoto in 2008 described Bitcoin -the first Cryptocurrency project- as “an electronic payment system based on cryptographic proof instead of trust”. The proof Nakamoto talks about is brought to the fore in the form of electronic transactions that are evidenced and documented in a form of program called a blockchain. And that is how Cryptocurrency and blockchain work together.
Now that we are a little bit exposed to this novel world of blockchain and Cryptocurrency, this article implores you to dig even deeper by reading the following well written books in this subject. Some of them include the following:
1. The Basics of Bitcoins and Blockchains
To capture a little bit of information about the author of this bestseller book, Antony became so interested in a niche online currency called Bitcoin in 2013, he left a conventional banking career to join a little startup called itBit. itBit is a bitcoin exchange, a website where clients can buy and sell bitcoins. After itBit, Antony privately consulted to clients mainly in the finance and consulting sectors, writing papers and running workshops to explain this new technology to curious professionals. He has done much more than this and he has written one of the finest books to help people interested in this niche to have a firm understanding thereof.
The Basics of Bitcoins and Blockchains covers topics such as the history of Bitcoin, the Bitcoin blockchain, and Bitcoin buying, selling, and mining. It also answers how payments are made and how transactions are kept secure. Other cryptocurrencies and cryptocurrency pricing are examined, answering how one puts a value on cryptocurrencies and digital tokens. You will learn about notable blockchain platforms, smart contracts, and other important facets of blockchains and their function in the changing cyber-economy.
Moreover, the text offers trustworthy and balanced insights to those interested in Bitcoin investing or investing in other cryptocurrency platforms. Discover the risks and mitigations, learn how to identify scams, and understand cryptocurrency exchanges, digital wallets, and regulations with this book. You’ll also learn about the evolution and potential impacts of Bitcoin and blockchains on global businesses.
As a bestseller, you will have an in-depth introductory guide that is accessible and well balanced to accommodate those who are new in the field as well as those who would wish to deepen the basic knowledge they may have about this niche. It is a must read if you intend to start investing in any cryptocurrency platform because you will be armed with the right kind of information you need. Pick it up from Amazon and start investing like a boss. Cryptocurrency is the future. Click below:
The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology that Powers Them
2. Blockchain Revolution
Don Tapscott is the CEO of the Tapscott Group and one of the most influential living theorists about business and society. In November 2013, Thinkers50 named Don as the 4th most important business thinker in the world. Co-author Alex Tapscott is the CEO and founder of Northwest Passage Ventures, an advisory firm building blockchain companies. In 2014 he wrote the seminal report on governing digital currencies for the Global Solutions Network program at the Joseph L. Rotman School of Management at the University of Toronto.
In this revelatory book, Don and Alex Tapscott deliver to us this brilliantly researched, highly readable, and essential book about the technology driving the future of the economy.
Blockchain is the ingeniously simple, revolutionary protocol that allows transactions to be simultaneously anonymous and secure by maintaining a tamperproof public ledger of value. Though it is best known as the technology that drives bitcoin and other digital currencies, it also has the potential to go far beyond currency, to record virtually everything of value to humankind, from birth and death certificates to insurance claims, land titles, and even votes.
As with major paradigm shifts that preceded it, blockchain technology will create winners and losers. This book shines a light on where it can lead us in the next decade and beyond.
The Guardian reviews this book as “A highly readable introduction to a bamboozling but increasingly important field.” To every reader venturing into blockchain and cryptocurrency as an investor, a developer or any interested party, this is the book they should first feast their minds with before delving into the intricacies that they will soon face. For a copy in their personal collection, Amazon is the place to make an order and get it delivered. Click on the provided link and let us get started together.
Blockchain Revolution: How the Technology Behind Bitcoin and Other Cryptocurrencies Is Changing the World
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3. Blockchain Basics
The author, Daniel Drescher, ensured that whoever is interested in this subject does necessarily require any previous knowledge in computer science, mathematics, programming or cryptography. If you are genuinely want to get a general idea of what blockchain technology is, how it works, and how it will potentially change the financial system as we know it, then pick this resource and start.
In 25 concise steps, you will learn the basics of blockchain technology. No mathematical formulas, program code, or computer science jargon are used. The resource bridges the gap that exists between purely technical books about the blockchain and purely business-focused books. It does so by explaining both the technical concepts that make up the blockchain and their role in business-relevant applications.
What You will Learn
You will get to grasp the following in the text:
- What the blockchain is
- Why it is needed and what problem it solves
- Why there is so much excitement about the blockchain and its potential
- Major components and their purpose
- How various components of the blockchain work and interact
- Limitations, why they exist, and what has been done to overcome them
- Major application scenarios
In simple and informative style, Daniel Drescher captures the most important aspects of blockchain unobtrusively using plain language for any interested audience to benefit. You can get a copy of this resource delivered from Amazon after making an order from the link below:
Blockchain Basics: A Non-Technical Introduction in 25 Steps
$20.49 in stock
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4. Blockchain Bubble or Revolution
Authored by 3 Silicon Valley leaders from Google, Microsoft, and Facebook, this brilliant book cuts through the hype to offer a balanced, comprehensive, and accessible analysis of blockchains and cryptocurrencies.
Neel Mehta is a Product Manager at Google. Previously, he worked at Khan Academy and Microsoft and founded the Civic Digital Fellowship, the first fully-funded technology internship program in the federal government. Aditya Agashe on the other hand is a Program Manager at Microsoft. He is the founder of Belle Applications, a company that builds and optimizes software platforms for businesses. Parth Detroja, another brilliant contributor, is a Product Manager at Facebook. He has previously worked at Microsoft, Amazon, and IBM.
Gauging from the cadre of the authors, you will definitely have a wonderful chance to learn the core concepts of Bitcoin and blockchain technologies to understand their strengths and weaknesses from real-world case studies. You will dive deep into their technical, economic, political, and legal complexities; and gain insights about their future from exclusive interviews with dozens of tech industry leaders.
A summary of what you will ingest include:
- Bitcoin and the blockchain
- Public blockchains and altcoins
- Private blockchains
- Cryptocurrency regulation and policy
- The future of decentralized technology
There are few technologies as divisive as blockchain. Expert opinions range from it being “a scam” to “most important invention since the internet.” It is hard to tell who’s right. Bubble or Revolution will enable you to thoroughly understand the blockchain ecosystem and knowledgeably make a decision for yourself on whether it is a bubble or a revolution.
Blockchain Bubble or Revolution: The Future of Bitcoin, Blockchains, and Cryptocurrencies
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