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Table of Contents
Introduction.....................................................................................................................6
Chapter 1 A History of Money, Cryptocurrency, and Blockchain.........................11 Money .........................................................................................................................12 Cryptocurrency............................................................................................................13 How Did Cryptocurrencies Develop? ..........................................................................14
Cryptocurrencies, Fiat Currencies, and Stocks......................................................15
Blockchains .................................................................................................................15
Chapter 2 Blockchain Basics ...................................................................................17 Components of a Blockchain ......................................................................................18 Security Concerns.......................................................................................................21 Types of Blockchain ....................................................................................................22 Blockchain Technology Breakdown ............................................................................24
Chapter 3 The Business of Blockchain...................................................................27 Different Industries that Use Blockchain Technology..................................................28 Adding Value to Your Business...................................................................................29 Growing Money ...........................................................................................................31 The Cloud and Blockchain ..........................................................................................32 Blockchain and Gaming ..............................................................................................33 Supply Chain Management and Blockchain ...............................................................34 Blockchain Technology and Quality Assurance ..........................................................34
Chapter 4 Proof of Work vs. Proof of Stake............................................................35 Proof of Work ..............................................................................................................35 Proof of Stake .............................................................................................................38 Benefits of the Proof of Stake Model...........................................................................39 Proof of Stake Challenges ..........................................................................................41
Chapter 5 Benefits of Blockchain Technology.......................................................42 Eliminating Third Parties .............................................................................................43 Control Over Data .......................................................................................................43 Better Data Quality and Integrity .................................................................................44 Durability and Reliability..............................................................................................44 The Integrity of Data Processing and Transfers..........................................................44 Transparency and Auditability.....................................................................................45 Faster Transactions ....................................................................................................45 Lower Transaction Costs ............................................................................................46
Chapter 6 Risks and Challenges of Blockchain Technology................................47 Major Hurdles of Blockchain .......................................................................................50 Risks of Blockchain Technology .................................................................................51
Chapter 7 Deciding if Blockchain Technology is Right for You ...........................53 Know Who Will Be Looking at Your Data....................................................................53 Writeable Data ............................................................................................................54 Data Alteration ............................................................................................................55 Data Restoration .........................................................................................................55 Easy to Share..............................................................................................................56 Storage Limitations .....................................................................................................56 Verification Process ....................................................................................................57 Taking the Next Step...................................................................................................58
Chapter 8 Blockchain Implementation Mistakes to Avoid ....................................60 Having Unrealistic Expectations..................................................................................60 Underestimating the Time Commitment......................................................................62 Being Impatient ...........................................................................................................62 Not Limiting Access.....................................................................................................63
Conclusion....................................................................................................................64
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.
