Blockchain for real world applications / Rishabh Garg.

Includes index.

Table of Contents
Illustrations xix

Foreword xxv

Preface xxvii

1 Introduction 1

2 Distributed Ledger Technology 11

2.1 Different Types of Distributed Ledger Technology 11

2.2 Chronological Evolution 13

2.3 Blockchain Architecture 15

3 Blockchain Ecosystem 23

3.1 Working of Blockchain 24

3.2 Key Characteristics 29

3.3 Unspent Transaction Output 30

3.4 Classification of Blockchain on Access Management 30

3.5 Consensus 32

3.6 Payment Verification in Blockchain 37

3.7 Hashgraph 39

3.8 Scalability 40

4 Transactions in Bitcoin Blockchain 43

4.1 Coinbase Transactions 43

4.2 Transactions Involving Fiat Currency 47

4.3 Top Fiat Currencies for Bitcoin Transactions 50

4.4 Price Determination for Bitcoin in Transactions 51

4.5 Controlling Transaction Costs in Bitcoin 57

5 Ethereum and Hyperledger Fabric 67

5.1 Early Attempts to Program Cryptocurrencies 68

5.2 Smart Contracts 69

5.3 Working of Ethereum 72

5.4 Hyperledger 74

5.5 Working of Hyperledger 74

5.6 Ethereum Versus Hyperledger 79

5.7 Decentralized Applications 81

5.8 Tokens 84

6 Identity as a Panacea for the Real World 87

6.1 Identity Systems 87

6.2 Centralized Model 92

6.3 Cost and Benefits 100

6.4 Quest for One World – One Identity 108

7 Decentralized Identities 115

7.1 Identity Models 115

7.2 Block chain-based Solutions 117

7.3 Identity Management 119

7.4 Identity Storage | Interplanetary File System 121

7.5 Biometric Solutions 130

7.6 Identity Access 139

7.7 Merits of a Proposed System 141

7.8 Disadvantages of the Proposed System 144

7.9 Challenges 145

7.10 Solutions with Hyperledger Fabric 146

8 Encryption and Cybersecurity 151

8.1 Cryptography 151

8.2 Playfair Cipher 153

8.3 Hill Cipher 167

8.4 RSA Algorithm in Cryptography 171

8.5 Multiple Precision Arithmetic Library 175

8.6 SHA-512 Hash in Java 180

8.7 Cybersecurity 183

9 Data Management 193

9.1 Data Science 193

9.2 Education and Employment Verification 194

9.3 Health Care 204

9.4 Genomics 210

9.5 Food Supply Chain 211

9.6 Real Estate 213

9.7 Crowd Operations 216

10 Banking and Finance 227

10.1 Banking and Investment 227

10.2 Trade Finance 236

10.3 Auction Process 248

10.4 Decentralized Finance 263

10.5 Prediction Markets 286

11 Growing Landscape of Blockchain 297

11.1 Blockchain Applications in Real World: An Overview 297

11.2 e-Governance 297

11.3 Supply Chain Management 305

11.4 e-Commerce 310

11.5 Distributed Resources and Internet of Things 317

11.6 Decentralized Streaming 320

12 Functional Mechanism 329

12.1 Software Requirements 329

12.2 Installing a Mobile Application 330

12.3 Fetching or Uploading the Documents 331

12.4 Government or Third-party Access 335

12.5 Credibility Through Smart Contracts 336

12.6 User-Optimized Features 337

Appendices 339

Glossary 347

Index 371

"Distributed Ledger Technology (DLT) is a technical infrastructure and protocol that allows simultaneous access, verification and updating of records in an irreversible manner over a network spanning multiple entities or locations. It can be a Blockchain, Directed Acylic Graph, Hashgraph, Holochain or Tempo (radix). The blockchain ecosystem includes blocks - the data structure used to keep records of transactions, which are distributed among all nodes in the network, and nodes - users or computers that hold a complete copy of the record or ledger. Blockchain uses an asymmetric cryptography mechanism to validate the authenticity of transactions. The hash function used here is a mathematical algorithm that converts any information into a string of alphanumeric values by a process called encryption. There are mainly two types of encryption - asymmetric encryption and symmetric encryption depending on whether same or different keys are used for encryption and decryption. Decentralized identifiers (DID) allow unique, private and secure peer-to-peer connections between two parties on a blockchain. DIDs are independent of centralized registries, authorities or identity providers, which enable identity-owner control and sovereignty over identities. There have been several innovations around blockchain consensus mechanisms, constitutional design, development of smart contracts, and tokens. Earlier, applications were mainly restricted to digital currencies, which were used in commercial transactions. The extension of Blockchain 2.0 applications enabled smart-contracts, Decentralized Applications (dApps), and Decentralized Autonomous Organizations (DAOs). Blockchain 3.0 was able to register its presence in areas such as education, health, science, transportation and logistics, and now Blockchain 4.0 is evolving as a business-friendly ecosystem for the world of commons."-- Provided by publisher.

About the Author
Rishabh Garg, Birla Institute of Technology and Science - Pilani, India. He has authored two books and has extensive professional experience in blockchain architecture and related technologies.