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    Blockchain - A Comprehensive Introduction For Mastering Blockchain
    Blockchain - A Comprehensive Introduction For Mastering Blockchain
    Blockchain - A Comprehensive Introduction For Mastering Blockchain
    Ebook82 pages2 hours

    Blockchain - A Comprehensive Introduction For Mastering Blockchain

    By Jeffrey Miller

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    About this ebook

    Do you finally want to understand what a Blockchain is and how it works?

    Are you aware of the amazing measures that come with this virtually impregnable security feature?

    For decades computer scientists have been creating defenses against hackers and for decades hackers have been overcoming the measures they introduce, causing havoc amongst some of the world's leading companies and even militaries.

    Get an easy understanding of Blockchain.

    Now, we have Blockchain and with Blockchain: A Comprehensive Introduction for Mastering Blockchain, you can understand much more about this innovative and impressive idea, including:

    • A simple explanation of what Blockchain is

    • How it works

    • An analysis of the technology

    • A look at the market

    • How to get started with it

    • Using it to make profit

    • The applications of Blockchain

    • And much more…

    Learn about its potential to transform our society.

    Best known for its involvement with digital currencies such as Bitcoin, Blockchain is gathering momentum in many other areas of computing as its unique features are becoming more widely used.

    Gain a deep knowledge of the technology.

    Now you can learn more about it and perhaps use it to your advantage too. Blockchain: A Comprehensive Introduction for Mastering Blockchain is the first step to a much greater understanding!

    Get a copy now to be a part of the Blockchain Revolution!

    LanguageEnglish
    PublisherJeffrey Miller
    Release dateMay 21, 2018
    ISBN9781386912538
    Blockchain - A Comprehensive Introduction For Mastering Blockchain
    Author

    Jeffrey Miller

    Jeffrey Miller, Ph.D., is a psychologist specializing in chronic illness from a spiritual perspective. He lives in Missouri.

    Read more from Jeffrey Miller

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      Book preview

      Blockchain - A Comprehensive Introduction For Mastering Blockchain - Jeffrey Miller

      Chapter 1: Terminology of Blockchain

      The internet uses a conventional platform known as a client-server model. In the client-server model, a network is created between a main computer server and multiple client computers. Using this network, the main computer server is capable of storing information for a specific internet application, and, additionally, can store data in the form of a database of personal information. For example, the bank’s clients are able to login into their accounts by using their usernames and passwords which can be stored by the main server in a specific database. As a result, the computer used by the bank’s customer becomes a client of the main computer server. The main server exchanges information with the client computer so that the client can access the program run by the server, which allows the customer to access their account online.

      The client-server model has been the popular option chosen by businesses that want to create websites in which users and customers can have access to a personalized account. Unfortunately, websites and systems utilizing the client-server model has proven itself to be susceptible to hacking and fraud. A Scottish hacker named Gary McKinnon infiltrated the United States’ Military’s computer system in 2001 and 2002. The extensive damage forced the military to close down over 2000 computers for a full twenty four hours, additionally, costs ran up to nearly $750,000. In another hacking incident, from 2005 to 2007, Albert Gonzalez led a team of hackers that stole personal account information (including credit card details) from 90 million TJX customers. In light of hacking threats such as these, companies and businesses are now incorporating cyber security to protect their information and that of their customers. Unfortunately, hackers have proved that just as innovations are reached within cyber security, they too have the ability to evolve and overcome these new defenses.

      The client-server model can depend on the main server too much and as a result can be prone to temporary and permanent failures. When the main server experiences a technical problem, it has the potential to affect the entire network of client computers. If the main server overheats or becomes infected with a virus, it can then spread the virus to other client computers. Sometimes, when too many clients are attempting to access the main server at the same time, users may not be able to access or extricate information in a timely manner. Although these failures may not always be permanent or particularly devastating, they have the ability to negatively affect a company’s ability to fully function.

      This is where blockchain comes in. Blockchain just plainly works different. It operates outside of the traditional client-server centralized system of data storage and exchange. Instead, blockchain runs using a system of decentralized nodes. Individual computers, which act as nodes, have the potential to be spaced out across the globe. As long as the node hosts the blockchain program it can access the decentralized network. Larger organizations utiziling blockchain technology can have up to 10,000 computer nodes or more! There is even potential to place nodes into space, which would allow it reach a more global audience.

      The decentralized nature of the blockchain systems holds a number of key advantages. Firstly, it gives users on the network a sense of security seeing as the possibility of the system being hacked is virtually nil. In a client-server network that utilizes only one server, a hacker needs to only break into one client-server computer to destabilize the complete network or even illegally access the personal information of anyone stored on the network. On the blockchain network, thanks to the thousands of computers serving as nodes, the hacker needs access to every single node at the same time or have the cooperation of every single person operating each specific node in order to take down the whole network. Due to its decentralized network, the blockchain system is all but infallible.

      The large system of computer nodes vastly decreases the overall network’s chance of failure. A client-server model uses only one server computer, so in the case of server failure, the entire network can be susceptible to risk. That means each client-computer can be affected by what happens to the server computer. Whereas on a blockchain network, the risk is kept to each specific node-computer thus keeping the entire network secure. A failure of the entire blockchain system would be one of catastrophic proportions.

      The nature of the multiple node system makes it so that information stored on the blockchain network cannot be altered. Since the blockchain is hosted on a variety of nodes, the data stored cannot be changed without the cooperation of the network’s entirety. Whereas within a client-server network, a single hacker or malcontent, can seek to change the information stored on a massive database without any required cooperation from other users on the client-server network. Due to blockchain’s decentralized nature, the data stored on a blockchain system is more or less unchangeable.

      Although blockchain technology does have its limitations, its most self-defining feature is its high level of security and encryption. Time and time again, blockchain has proven that its security outclasses that of the traditional client-server network. It has the potential to save businesses millions just

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