In 25 concise steps, you will learn the basics of blockchain technology. No mathematical formulas, program code, or computer science jargon are used. No previous knowledge in computer science, mathematics, programming, or cryptography is required. Terminology is explained through pictures, analogies, and metaphors. This book bridges the gap that exists between purely technical books about the blockchain and purely business-focused books. It does so by explaining both the technical concepts that make up the blockchain and their role in business-relevant applications. What You Will Learn: What the blockchain is Why it is needed and what problem it solves Why there is so much excitement about the blockchain and its potential Major components and their purpose How various components of the blockchain work and interact Limitations, why they exist, and what has been done to overcome them Major application scenarios Who This Book Is For: Everyone who wants to get a general idea of what blockchain technology is, how it works, and how it will potentially change the financial system as we know it Table of Contents Stage I: Terminology and Technical Foundations Step 1: Thinking in Layers and Aspects Step 2: Seeing the Big Picture Step 3: Recognizing the Potential Stage II: Why the Blockchain Is Needed Step 4: Discovering the Core Problem Step 5: Disambiguating the Term Step 6: Understanding the Nature of Ownership Step 7: Spending Money Twice Stage III: How the Blockchain Works Step 8: Planning the Blockchain Step 9: Documenting Ownership Step 10: Hashing Data Step 11: Hashing in the Real World Step 12: Identifying and Protecting User Accounts Step 13: Authorizing Transactions Step 14: Storing Transaction Data Step 15: Using the Data Store Step 16: Protecting the Data Store Step 17: Distributing the Data Store Among Peers Step 18: Verif ying and Adding Transactions Step 19: Choosing a Transaction History Step 20: Paying for Integrity Step 21: Bringing the Pieces Together

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