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Mastering Blockchain

You're reading from   Mastering Blockchain Distributed ledger technology, decentralization, and smart contracts explained

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Product type Paperback
Published in Mar 2018
Publisher Packt
ISBN-13 9781788839044
Length 656 pages
Edition 2nd Edition
Languages
Concepts
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Author (1):
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Imran Bashir Imran Bashir
Author Profile Icon Imran Bashir
Imran Bashir
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Table of Contents (21) Chapters Close

Preface 1. Blockchain 101 FREE CHAPTER 2. Decentralization 3. Symmetric Cryptography 4. Public Key Cryptography 5. Introducing Bitcoin 6. Bitcoin Network and Payments 7. Bitcoin Clients and APIs 8. Alternative Coins 9. Smart Contracts 10. Ethereum 101 11. Further Ethereum 12. Ethereum Development Environment 13. Development Tools and Frameworks 14. Introducing Web3 15. Hyperledger 16. Alternative Blockchains 17. Blockchain – Outside of Currencies 18. Scalability and Other Challenges 19. Current Landscape and What's Next 20. Another Book You May Enjoy

Methods of decentralization

Two methods can be used to achieve decentralization: disintermediation and competition (Contest-driven decentralization). These methods will be discussed in detail in the sections that follow.

Disintermediation

The concept of disintermediation can be explained with the aid of an example. Imagine that you want to send money to a friend in another country. You go to a bank who, for a fee, will transfer your money to the bank in that country. In this case, the bank maintains a central database that is updated, confirming that you have sent the money. With blockchain technology, it is possible to send this money directly to your friend without the need for a bank. All you need is the address of your...

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