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Mastering Blockchain, Fourth Edition

You're reading from   Mastering Blockchain, Fourth Edition Inner workings of blockchain, from cryptography and decentralized identities, to DeFi, NFTs and Web3

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Product type Paperback
Published in Mar 2023
Publisher Packt
ISBN-13 9781803241067
Length 818 pages
Edition 4th 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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Toc

Table of Contents (24) Chapters Close

Preface 1. Blockchain 101 FREE CHAPTER 2. Decentralization 3. Symmetric Cryptography 4. Asymmetric Cryptography 5. Consensus Algorithms 6. Bitcoin Architecture 7. Bitcoin in Practice 8. Smart Contracts 9. Ethereum Architecture 10. Ethereum in Practice 11. Tools, Languages, and Frameworks for Ethereum Developers 12. Web3 Development Using Ethereum 13. The Merge and Beyond 14. Hyperledger 15. Tokenization 16. Enterprise Blockchain 17. Scalability 18. Blockchain Privacy 19. Blockchain Security 20. Decentralized Identity 21. Decentralized Finance 22. Blockchain Applications and What’s Next 23. Index

Algorithms

In this section, we will discuss the key algorithms in detail. We'll be looking at the two main types of fault-tolerant algorithms, CFT and BFT.

CFT algorithms

We'll begin by looking at some algorithms that solve the consensus problem with crash fault tolerance. One of the most fundamental algorithms in this space is Paxos.

Paxos

Leslie Lamport developed Paxos. It is the most fundamental distributed consensus algorithm, allowing consensus over a value under unreliable communications. In other words, Paxos is used to build a reliable system that works correctly, even in the presence of faults.

Paxos was proposed first in 1989 and then later, more formally, in 1998 in the following paper:

Lamport, L., 1998. The part-time parliament. ACM Transactions on Computer Systems (TOCS), 16(2), pp.133-169.

The paper is available here:

https://lamport.azurewebsites.net/pubs/lamport-paxos.pdf.

Note that Paxos works under an asynchronous network model and supports the handling...

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