Blockchain Technology Review

7701 2018-12-26 01:20

What is blockchain?

A blockchain is an incorruptible distributed ledger that is…

  1. Hosted by multiple parties
  2. Secured by crypto algorithms
  3. Append-only/immutable and thus verifiable in data storage

How does it work?

how does blockchain work

Categorization: Public vs. Private vs. Hybrid Blockchains

  • Public: It is permission-less to join the network.
  • Private: The permission to join is centrally controlled.
  • Hybrid: Multi-parties control the permission to join.

Do you need a blockchain?

Do you need a blockchain?

Architecture

Hardware
Hardware
Basic Utils
Basic Utils
Ledger
Ledger
Concensus
Concensus
Smart Contract
Smart Contract
APIs
APIs
dApps
dApps
Dev
Ops
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  1. Hardware: computer resources = computing + networking + storage

  2. Basic Utils: P2P network + crypto + data storage w/ db or filesystem

  3. Ledger: chain of data blocks + domain-specific data models

  4. Consensus: write first consensus later (PoW/PoS/DPoS) / consensus first write later (PBFT)

  5. Smart Contract: limited program running on the blockchain

  6. API: RPC + SDK

  7. dApps: 1) transfer of values 2) data certification 3) data access control

  8. DevOps: deployment, operations, metrics, logs

Industries

  1. Financial Services

    • crypto exchange: binance, coinbase, etc.
    • international payments: ripple, stellar, etc.
    • Know Your Customer (KYC) / anti-money laundry (AML): civic
  2. Health care

    • sharing data across providers, insurers, vendors, auditors, etc
  3. Public sector

    • asset tokenization
    • transparent voting in public election
  4. Energy and resources

    • trading
    • sharing data across suppliers, shippers, contractors, and authorities
  5. Technology, media, and telecom

    • DRM and incentivizing content creator
    • securing operations and data storage of IoT devices
  6. Consumer and industrial products

    • loyalty points programs in traveling
    • document signing
    • supply-chain management
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