Today I'll review the book "The Basics of Bitcoins and #Blockchain" by Antony Lewis
Interesting fact
Most crypto-currencies (including Blockchain, Ethereum) are susceptible to a 51% attack. If someone or a group of people can acquire 51% of the mining capacity in a crypto-currency, they can re-write all transactions (even the past ones).
Beware!
A crypto-currency with a big and diverse #mining population is safer to invest in. New coins that have an "accumulation of power" in fewer people, can be scammed easily.
Blurb
This is a great introduction to Blockchain, #Bitcoin & #Ethereum. We start with an understanding of the history of #money (Dollars, Rupees, etc.) This gives a great reference to when we think about modern crypto-currencies and what they can be used for.
The book explores #cryptography, and blockchain technology. This gives us a deeper understanding of the technical mechanism behind Bitcoin and Ethereum.
Thought for the day
While Bitcoin is built on top of Blockchain technology, there are not the same. Blockchain can be used to solve problems in other industries as well. We are currently looking at the tip of the iceberg of what can be done with Blockchain technology. So hold on to your seats, as we see the market flooded with Blockchain-based products & services over the next few years.
Use cases of Blockchain
> #Finance
Partior created a blockchain-enabled platform that allows multiple banks around the world to provide real-time cross-border multi-currency payments, trade finance, foreign exchange, and more.
> #NFTs
NFTs to sell digital & physical assets (pictures, videos, memes, etc.)
The Coca-Cola Company auctioned its first NFT. The winner of the NFT received a retro vending machine. The money collected was used to meet their CSR goals.
> and many more
If you are new to blockchain, crypto-trading, Bitcoin & Ethereum then this is the right book for you.
In case you are interested to explore how Blockchain can help your company, feel free to reach out to me to discuss more.
