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Blockchain Development for Finance Projects

You're reading from   Blockchain Development for Finance Projects Building next-generation financial applications using Ethereum, Hyperledger Fabric, and Stellar

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Product type Paperback
Published in Jan 2020
Publisher Packt
ISBN-13 9781838829094
Length 530 pages
Edition 1st Edition
Languages
Concepts
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Author (1):
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Ishan Roy Ishan Roy
Author Profile Icon Ishan Roy
Ishan Roy
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Table of Contents (17) Chapters Close

Preface 1. Section 1: Blockchain Payments and Remittances
2. Blockchain in Financial Services FREE CHAPTER 3. Building a Blockchain Wallet for Fungible and Non-Fungible Assets 4. Designing a Payment Gateway for Online Merchants 5. Corporate Remittances and Settlement 6. Enabling Cross-Border Remittances with Real-Time KYC/AML Verification 7. Section 2: Blockchain Workflows Using Smart Contracts
8. Building a Letter of Credit Workflow Module Using Smart Contracts 9. Section 3: Securing Digital Documents and Files Using Blockchain
10. Building a Tamper-Proof Document Storage System 11. Section 4: Decentralized Trading Exchanges Using Blockchain
12. Building a Decentralized Trading Exchange 13. Developing a Currency Trading Exchange for Market Making 14. Looking into the Future 15. Other Books You May Enjoy Appendix: Application Checklist

Tamper-proof document storage using blockchain

The consensus algorithm of blockchains makes it virtually impossible to alter any data once it is stored in the blockchain. The consensus algorithm of a blockchain is an elaborate mechanism that ensures that the data captured on all the nodes in the blockchain network (the participating computers or servers that store a copy of the blockchain ledger) is uniform. This means that the data stored on each node, as well as the sequence in which the data is organized, is the same throughout all the nodes in the network.

This also means that once data is written or captured in a blockchain, it is virtually immutable—that is, it cannot be modified as long as the blockchain network remains unchanged. If the recorded data on one of the nodes is altered, the consensus algorithm prevents the altered data from being written to the other...

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