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Blockchain Basics: A Deep Dive Into the Blocks, Chains, and Consensus
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Author(s): Muhammad Ahmed (Superior University, Lahore, Pakistan), Adnan Ahmad (COMSATS University Islamabad, Lahore, Pakistan), Furkh Zeshan (COMSATS University Islamabad, Lahore, Pakistan)and Hamid Turab (COMSATS University Islamabad, Lahore, Pakistan)
Copyright: 2024
Pages: 33
Source title:
Decentralizing the Online Experience With Web3 Technologies
Source Author(s)/Editor(s): Dina Darwish (Ahram Canadian University, Egypt)
DOI: 10.4018/979-8-3693-1532-3.ch003
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Abstract
A blockchain functions as a decentralized network, serving both as a digital ledger and a mechanism for securely transferring assets without the need for a central authority. Much like the internet facilitates the digital flow of information, blockchain empowers the digital exchange of various value units. The tokenization of various assets, including currencies and real-world applications, is a feasible endeavor within the realm of blockchain networks. This technology not only facilitates secure value transfers but also maintains a persistent record of transactions, establishing a singular version of truth referred to as the network state. This chapter provides a succinct overview of blockchain, highlighting its defining characteristics that position it as a prominent and transformative technology.
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