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Blockchain for Business 2019

You're reading from   Blockchain for Business 2019 A user-friendly introduction to blockchain technology and its business applications

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Product type Paperback
Published in Jan 2019
Publisher
ISBN-13 9781789956023
Length 258 pages
Edition 1st Edition
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Concepts
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Author (1):
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Peter Lipovyanov Peter Lipovyanov
Author Profile Icon Peter Lipovyanov
Peter Lipovyanov
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Table of Contents (17) Chapters Close

Preface 1. Bitcoin, Blockchain, and Cryptoassets 2. A Brief History of Money FREE CHAPTER 3. The Birth of Bitcoin and the Advantages of a Decentralized Payment System 4. Five Forces of Bitcoin - #1 Blockchain 5. Five Forces of Bitcoin - #2 Cryptography 6. Five Forces of Bitcoin - #3 Consensus Algorithm 7. Five Forces of Bitcoin - #4 P2P Network 8. Five Forces of Bitcoin - #5 Software Code Base 9. How Ethereum Took the Idea of Blockchain to the Next Level 10. Ethereum - A Global Platform for Decentralized Applications 11. Blockchains Focused on Specific Sectors and Use Cases 12. Corporate Blockchains 13. The Disruptive Potential of Blockchain Technology 14. Blockchain and AI 15. Current Issues and Potential Solutions to Take Blockchain to the Next Level 16. Other Books You may Enjoy

The Byzantine Generals' Problem

The Byzantine Generals' Problem is actually an abstract way to describe a problem in computer systems introduced in a 1982 paper of the same name. The problem states that reliable computer systems must be able to function effectively in the presence of faulty components that may send conflicting information to different parts of the system. This issue is even more acute in decentralized computer networks.

This is illustrated in the following diagram:

Let's imagine the following thought experiment.

The Byzantine army has surrounded an enemy city. The army is organized in several units. Each unit is commanded by a general. All these generals need to come up with a coordinated plan of action, but they are located away from each other and can communicate only via messages. To make things more complicated, one or more of the generals...

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