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    Unlocking the Blockchain Potential
    Unlocking the Blockchain Potential
    Unlocking the Blockchain Potential
    Ebook99 pages1 hour

    Unlocking the Blockchain Potential

    By Dwayne Anderson

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    About this ebook

    Unlocking  the  Blockchain Potential
    While the current buzz over Bitcoin and other cryptocurrencies are hard to ignore, It is becoming  an urgent task to 
    Unlocking the  Blockchain  Potential ,…….in order  to understand the underlying technology that makes the trade of bitcoins possible  
    Blockchain technology is the virtual, public ledger that records everything in a secure and transparent matter. The benefits of blockchain are more than big enough to sustain its relevance for years to come, unlike the cryptocurrency it was designed to support
    Cryptocurrencies, like Bitcoin and Ethereum, have become the talk of the town because they’ve accumulated hundreds of millions of dollars in value in just a few short years. Underneath these popular cryptocurrencies lies the blockchain technology, which combines cryptography with decentralized record keeping to create the first concept of digital property, that allows people to create unique, specific assets online. Creating a digital asset that is backed by blockchain technology is unique in that it can’t be copied or moved, which will change how the Internet will operate.
    More and more people are looking to invest in Bitcoin and other cryptocurrencies, in hopes of making it rich.
    While the buzz and hype surrounding cryptocurrency doesn’t seem like it is going to die down anytime soon, the underlying foundation of Bitcoin, is starting to take center stage..
    It is clear that blockchain technology is making strides in different industries outside of cryptocurrency. While most people are ready for decentralized ledgers, the progress of blockchain technology means it probably won’t be too far off from becoming mainstream.
    LanguageEnglish
    PublisherPublisher s21598
    Release dateOct 31, 2018
    ISBN9788829541522
    Unlocking the Blockchain Potential

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      Book preview

      Unlocking the Blockchain Potential - Dwayne Anderson

      Conclusion

      Unlocking  the  BlockChain  Potential

      Disclaimer

      This e-book has been written for information purposes only. Every effort has been made to make this ebook as complete and accurate as possible. However, there may be mistakes in typography or content.   Therefore, this ebook should be used as a guide - not as the ultimate source.

      This book links to a lot of different  financial- and investment-related products and services that I currently use or have used in the past. These are offered as examples only and do not constitute 'financial advice'

      I make no claims whatsoever to be a professional or to possess expert knowledge in any of these areas. I'm simply sharing some ideas that I'm currently using or that have worked for me in the past.

      That said, past results do not offer any guarantee of future performance.

      You should complete your own due diligence before buying or signing up for anything.

      The purpose of this ebook is to educate. The author and the publisher do not warrant that the information contained in this e-book is fully complete and shall not be responsible for any errors or omissions. The author and publisher shall have neither liability nor responsibility to any person or entity with respect to any loss or damage caused or alleged to be caused directly or indirectly by this ebook.

      Copyright  © Dwayne Anderson

      ––––––––

      Table of Contents

      Introduction

      Chapter 1 – A History of Money, Cryptocurrency, and Blockchain

      Money

      Cryptocurrency

      How Did Cryptocurrencies Develop?

      Cryptocurrencies, Fiat Currencies, and Stocks

      Blockchains

      Chapter 2 – Blockchain Basics

      Components of a Blockchain

      Security Concerns

      Types of Blockchain

      Blockchain Technology Breakdown

      Chapter 3 – The Business of Blockchain

      Different Industries that Use Blockchain Technology

      Adding Value to Your Business

      Growing Money

      The Cloud and Blockchain

      Blockchain and Gaming

      Supply Chain Management and Blockchain

      Blockchain Technology and Quality Assurance

      Chapter 4 – Proof of Work vs. Proof of Stake

      Proof of Work

      Proof of Stake

      Benefits of the Proof of Stake Model

      Proof of Stake Challenges

      Chapter 5 – Benefits of Blockchain Technology

      Eliminating Third Parties

      Control Over Data

      Better Data Quality and Integrity

      Durability and Reliability

      The Integrity of Data Processing and Transfers

      Transparency and Auditability

      Faster Transactions

      Lower Transaction Costs

      Chapter 6 – Risks and Challenges of Blockchain Technology

      Major Hurdles of Blockchain

      Risks of Blockchain Technology

      Chapter 7 – Deciding if Blockchain Technology is Right for You

      Know Who Will Be Looking at Your Data

      Writeable Data

      Data Alteration

      Data Restoration

      Easy to Share

      Storage Limitations

      Verification Process

      Taking the Next Step

      Chapter 8 – Blockchain Implementation Mistakes to Avoid

      Having Unrealistic Expectations

      Underestimating the Time Commitment

      Being Impatient

      Not Limiting Access

      Back to Basic - What You Need To Get Started

      Conclusion

      Introduction

      Countless discoveries and inventions have been made throughout our history. Some of the developments have been minor, some of them have been major, some have been short-lived, and other events have been more critical and longer-lasting. There have been certain developments throughout our history that have been so vitally important to humanity that they are considered the sole factor behind all of humankind, collectively making progress and taking a critical and everlasting step forward.

      For example, consider how the creation of farming equipment and fertilizers allowed for the exponential growth of food outputs from fixed pieces of land. Without these inventions and discoveries, the world would not have been able to support the explosive population growth that we have witnessed across the globe. It was only a few hundred years ago that scientists and economists indicated the end of population growth, due to the fact that food production just grew at numerical rates, doubling or tripling every certain number of years, while populations grew at exponential rates, expanding to the power of two or more during that same period. 

      At the time, this meant that sooner or later there wouldn't be enough food to feed everyone unless more food could be obtained from fixed pieces of land every year. Fortunately, this is precisely what happened. Science was able to deliver heavy farm equipment, fertilizers such as ammonia, and other improvements so that that food harvests could keep up with the population growth rates. This allowed for more people to be sustained in the same area of land as before. Without these developments, the world would be a very different place today. 

      Similarly, the creation of antibiotics, penicillin, the introduction of air travel, ocean freight, and the steam engine, and more recently, the sharing of information in the Information Age that was made possible by the invention of microchips and transistors, have all changed the world irreversibly. As a result of these innovations and discoveries, we are more connected, better off, healthier, and have more accessible and cheaper access to goods and services than ever before.

      When it comes to the information age, things have progressed at breakneck speed, ever since the first dot-com wave in the early to mid-90s. Everything from the user interface tools and technologies that have defined how we interact and interface with technology. Everything from payment solutions to banking solutions has dramatically changed over the last 20 years.

      The same can be said for social networks and primary email, along with the advancements that have been made in fields of artificial intelligence (AI) and big data analysis, both of which have an impact on everything from helping with governance to online search. Collectively, we've gone from necessary solutions for all of the above to have sophisticated software services that combine various aspects of technology to deliver effective, robust, value-added, and seamless services to billions of people around the world.

      However, with all the progress comes new challenges. AI, big data, and the ability of governments to implement mass surveillance initiatives, and the ubiquity of technology all around have begun to pose serious ethical questions and technological challenges. This leads to the question, where do you draw the line between legal and illegal surveillance? How can we, as a society, trust the data usage collection and manipulation practices of companies and governments when they aren’t transparent. When it comes to the role of government and big

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