Winston Ma - Blockchain and Web3: Building the Cryptocurrency, Privacy, and Security Foundations of the Metaverse

1. Chapter 4
2. Chapter 5
3. Chapter 10

1. Preface
2. Chapter 1
3. Chapter 2
4. Chapter 3
5. Chapter 4
6. Chapter 5
7. Chapter 6
8. Chapter 7
9. Chapter 8
10. Chapter 9
11. Chapter 10

A thoughtful guide to the role blockchain and crypto assets play in the world-changing internet transformation and how one accelerates the other.

Anthony Scaramucci, Founder & Managing Partner of SkyBridge

Provides a colorful account of how things like gaming, blockchain, NFTs, AR/VR, DAOs, and DeFi have converged and ultimately presented to us this whole package called metaverse.

Clay Lin, Chief Information Security Officer(CISO), World Bank Group

Ma and Huang provide the essential handbook on the transformative power of Web 3 taking you on a ride from the basic fundamentals of the blockchain protocols to the vast possibilities of the metaverse and the immense impact it could bring. An educational and entertaining must-read for anyone interested in the next, programmable and immersive, web.

Lila Tretikov, deputy Chief Technology Officer (CTO), Microsoft

An essential breakdown of the most important recent developments in the blockchain space. Unlike many other writers, Ma and Huang look beyond mere financial speculation to uncover the true productive potential of blockchains, smart contracts, DAOs, DeFi, the metaverse, and more.

Neel Mehta, Author of Bubble or Revelation?: The Future of Bitcoin, Blockchains, and Cryptocurrencies

A remarkable convergence of digital economy with blockchain and Web3, depicting the true merits of the metaverse in relinquishing the impending daunted horizons of the information technology.

Mehdi Paryavi DEA, Chairman, the International Data Center Authority (IDCA)

A clear picture of the complex ecosystem that enables the next-generation internet. Readers will become Web3 smart netizens, educated participants, and even adept game changers.

William Zhang, Security Architecture Lead, World Bank Group

Provides a valuable window into metaverse and covers the important building blocks for a trusted metaverse.

Yale Li, Chairman, Cloud Security Alliance Greater China Region (CSA GCR)

Metaverse, Web3, and blockchain are among the cutting-edge technologies of the new digital economy. Focused on security, privacy, and data governance, this book discusses the paramount aspects of how these new technologies are used in the real world.

Yao Qian, Ex-Head of China's Digital Yuan Effort, now Director of the Science and Technology Supervision Bureau of China Securities Regulatory Commission

WINSTON MA

KEN HUANG

This edition first published 2022

Copyright 2022 by Winston Ma and Ken Huang. All rights reserved.

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To Angela I love you dearly.

Winston Ma

To Queenie Ma, Grace Huang, and Jerry Huang, for your unwavering love, support, and encouragement.

Ken Huang

In September 2017, JPMorgan Chase (America's largest investment bank firm) CEO Jamie Dimon called Bitcoin a fraud. It's worse than tulip bulbs. It won't end well. Someone is going to get killed, Dimon said. Now, its wealthiest clients can invest in the asset on the bank's own platform. The dramatic shift of JPMorgan is a significant milestone for the Bitcoin, as well as broad cryptocurrencies, as an asset class.

Various financial institutions like JPMorgan, both on Wall Street and in international governments, have had a very complicated relationship with cryptocurrency as a whole since Bitcoin (together with blockchain technology) first crashed onto the world stage 10 years ago. But as digital finance has accelerated by the pandemic, institutions actively explore new avenues to get involved in the crypto space. This institutional adoption has benefited not only Bitcoin but also the entire crypto asset industry, helping break barriers all across the board.