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Oracle Blockchain Quick Start Guide
Oracle Blockchain Quick Start Guide

Oracle Blockchain Quick Start Guide: A practical approach to implementing blockchain in your enterprise

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Profile Icon Acharya Profile Icon Prakash Profile Icon Eswararao Yerrapati
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€32.99
Paperback Sep 2019 350 pages 1st Edition
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€32.99
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Arrow left icon
Profile Icon Acharya Profile Icon Prakash Profile Icon Eswararao Yerrapati
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€32.99
Paperback Sep 2019 350 pages 1st Edition
eBook
€17.99 €26.99
Paperback
€32.99
Subscription
Free Trial
Renews at €18.99p/m
eBook
€17.99 €26.99
Paperback
€32.99
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Renews at €18.99p/m

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Oracle Blockchain Quick Start Guide

Construing Distributed Ledger Tech and Blockchain

A blockchain is a time-sequenced chain of transactions that are agreed upon consensus and grouped into blocks. This guarantees that information of the ledger (chain) is reliable and can be trusted, since each entry (block) is validated by the network and is agreed by the network. For a ledger of records, distributed ledger technology (DLT) and its variant (blockchain) are revolutions. By virtue of its nature, such as being an immutable trustworthy ledger of records, no single point of failure, no centralized third party, and decentralized trust, DLT and blockchain have created a hype (catalyzed by imagination) that allows us to envision various use cases of DLT and blockchain.

One such application of blockchain that grabbed everyone's attention is Bitcoin, which is a globally distributed immutable ledger of records. Since...

Challenges and opportunities of DLT

Enterprises are exploring the immense opportunities of DLT and blockchain, and they acknowledge the strategic and long-term benefits of this disruptive technology. However, there are various challenges associated with DLT and blockchain that need to be mitigated before they are adopted by enterprises. This section summarizes the challenges faced by DLT and the opportunities it offers.

Challenges associated with DLT

This section covers the main challenges of the adoption of DLT.

Perception

The perceived immaturity of the underlying technology...

Challenges of traditional technologies and solutions

The evolution of a human being to being able to understand exchanging value has its roots in the level of uncertainty. The greater the uncertainty, the less the trust in the exchange of value. The higher the certainty, the greater the exchange of value. There are various traditional challenges that blockchain tries to solve, such as trust, intermediaries, confidentiality, robustness, resilience, and availability. Let's go over them now:

  • Trustless: When you deal with a centralized system, you place trust on the system and the underlying set of people and machines that are responsible for taking care of the system and its security. Your inherent trust is in the organization you are dealing with. For example, we are using an email service for many years and sometimes send important personal emails as well. We have inherent...

Design strategy

This section will cover the details around designing a blockchain solution to build a business network. Many enterprises, entrepreneurs, and organizations are analyzing blockchain. They are adopting blockchain to gain transactional speed for business-to-business transactions, store information in an immutable way, and share it securely. For businesses, blockchain is a platform where peers exchange values via transactions, without the interference of a central arbitrator. All of this is good; however, where should we start? This section covers defining a design strategy for blockchain.

I have used the following terms from my book, We Wake With Noah, and found it interesting that the self-improvement concepts I explored in that book can be applied to technology as well :

Explore

Engage

Experiment

Experience

Influence

Use case identification

As-is...

Blockchain properties and use cases

DLT, like blockchain, is exemplified as one of the most disruptive technological advancements of this century. Although there are many regulatory challenges that it needs to overcome before being part of the majority, there are various properties of blockchain that make it truly revolutionary. It is the properties of blockchain that offer numerous potential for various industries. In this section, we will talk about blockchain properties and the use cases that are catalyzed by those properties.

Blockchain properties

With the immense success of blockchain's first application, Bitcoin, and then the emergence of Ethereum and Hyperledger, enterprises, organizations, industry leaders, entrepreneurs...

Types of use cases

Broadly speaking, blockchain is an ideal use case for the decentralized consensus on ledgers that are appended by themselves on agreed transactions that are non-commutative. In this section, I'm going to categorize blockchain use cases into a few categories; however, I believe that there are millions of use cases, which is the result of non-commutative state transition functions. The listed categorization of use cases is exhaustive.

Let's start by simply putting the definition of blockchain into an equation:

Blockchain = Who Owns - What, When, and How much

When is the timeline, while How much is the quantity. However, What, is the topic of discussion here. My efforts to categorize blockchain are centered on What and Who.

WHAT: What represents the assets; essentially, the scarce assets that are valuable. Assets such as identity, currency, land title...

Exploring use cases

In the Design strategy section, we tried to define a design strategy for a blockchain-based business solution, which has five steps: explore, engage, experiment, experience, and influence. In this section, we will concentrate on the first step. In this step, we will explore a few blockchain use cases. They are as follows:

  • Real property registry and transfer of ownership
  • Know your customer
  • Invoice factoring

Government – real property registry and transfer of ownership

Real properties are recorded and maintained by governments, mostly at the local government level. For example, a country assessor is responsible for recording and maintaining the country's property records. Although a few countries...

Engaging with a use case

In the Design strategy section, we tried to define a blockchain design strategy that consists of five steps: explore, engage, experiment, experience, and influence. In this section, we will concentrate on the second step. During this step, we will engage with one of the use cases we defined in previous section. Chapter 5, Managing Solution on Oracle Blockchain Platform, and Chapter 6, Developing Solutions on Oracle Blockchain Platform, take care of experimenting with the solution. There, we will define another use case and try to build the chaincode for the solution. We will also set up and configure a blockchain network to run the chaincode and use integration via REST to connect with the chaincode.

In this chapter, while engaging with the use case, we will start by defining the flow—first the as-is flow and then the to-be flow. We have covered...

Summary

This chapter highlighted the challenges and opportunities of DLT and blockchain. This chapter also drilled into various properties of blockchain and how those properties are upheaving the usage of blockchain in various scenarios. In this chapter, we also delved into modeling a use case and demonstrated the integration aspects and infrastructure for implementing a use case. The Design strategy section mentioned the five stages of this—explore, engage, experiment, experience, and influence. We also covered the initial two stages (explore and engage) of the design strategy. We explored the design strategy by examining various use cases, justifying the adoption of blockchain, and also tried to formulate an equation to justify/quantify the employment of blockchain for a given use case. Later, we engaged in the design strategy by defining a blockchain-based business network...

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Key benefits

  • Discover Hyperledger Fabric and its components, features, qualifiers, and architecture
  • Get familiar with the Oracle Blockchain Platform and its unique features
  • Build Hyperledger Fabric-based business networks with Oracle’s premium blockchain cloud service

Description

Hyperledger Fabric empowers enterprises to scale out in an unprecedented way, allowing organizations to build and manage blockchain business networks. This quick start guide systematically takes you through distributed ledger technology, blockchain, and Hyperledger Fabric while also helping you understand the significance of Blockchain-as-a-Service (BaaS). The book starts by explaining the blockchain and Hyperledger Fabric architectures. You'll then get to grips with the comprehensive five-step design strategy - explore, engage, experiment, experience, and in?uence. Next, you'll cover permissioned distributed autonomous organizations (pDAOs), along with the equation to quantify a blockchain solution for a given use case. As you progress, you'll learn how to model your blockchain business network by defining its assets, participants, transactions, and permissions with the help of examples. In the concluding chapters, you'll build on your knowledge as you explore Oracle Blockchain Platform (OBP) in depth and learn how to translate network topology on OBP. By the end of this book, you will be well-versed with OBP and have developed the skills required for infrastructure setup, access control, adding chaincode to a business network, and exposing chaincode to a DApp using REST configuration.

Who is this book for?

If you are a blockchain developer, blockchain architect or just a cloud developer looking to get hands-on with Oracle Blockchain Cloud Service, then this book is for you. Some familiarity with the basic concepts of blockchain will be helpful to get the most out of this book

What you will learn

  • Model your blockchain-based business network by defining its components, transactions, integrations, and infrastructure through use cases
  • Develop, deploy, and test chaincode using shim and REST, and integrate it with client apps using SDK, REST, and events
  • Explore accounting, blockchain, hyperledger fabric, and its components, features, qualifiers, architecture and structure
  • Understand the importance of Blockchain-as-a-Service (BaaS)
  • Experiment Hyperledger Fabric and delve into the underlying technology
  • Set up a consortium network, nodes, channels, and privacy, and learn how to translate network topology on OBP
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Table of Contents

7 Chapters
Exploring Blockchain and BaaS Chevron down icon Chevron up icon
Construing Distributed Ledger Tech and Blockchain Chevron down icon Chevron up icon
Delving into Hyperledger Fabric Chevron down icon Chevron up icon
Engage in Business Case on Blockchain Platform Chevron down icon Chevron up icon
Managing Solutions on Oracle Blockchain Platform Chevron down icon Chevron up icon
Developing Solutions on Oracle Blockchain Platform Chevron down icon Chevron up icon
Other Books You May Enjoy Chevron down icon Chevron up icon
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