In this book, Stephen P. Williams describes the blockchain in detail and how it relates to our lives today. He explains what a blockchain is, why we might want to use one and some possible applications of them.
“Blockchain” is a book by Stephen P. Williams that explores the concept of blockchain and how it can be used in many different ways. The author goes into detail about what blockchain is, why it’s important, and what its uses are. Read more in detail here: what’s blockchain.
Are you seeking for a synopsis of Stephen P. Williams’ book Blockchain? You’ve arrived to the correct location.
I scribbled down a few noteworthy observations while reading Stephen P. Williams’ book last week.
If you don’t have time, you don’t have to read the whole book. The book synopsis below provides an overview of all you can learn from it.
Let’s get this party started right now.
I’ll talk on the following points in this Blockchain: The Next Everything book summary:
What is Stephen P. Williams’ Blockchain about?
Blockchain examines the technology that many consider to be the most revolutionary invention since the Internet.
The book shows how this unhackable digital ledger works, how it subverts established hierarchies, and why experts believe it has the potential to transform organizations, governments, finance, culture, and communication.
What is the name of the author of Black Edge?
Stephen P. Williams is a nonfiction author and journalist. He’s written for the New York Times, Newsweek, and GQ, and now heads Wm. Williams, a sustainable fashion start-up that uses blockchain technology to perform distributed production.
Who is Stephen P. Williams’ Blockchain For?
Blockchain Stephen P. Williams’s work isn’t for everyone. If you are one of the following folks, you may like the book:
- Nerds interested in blockchain technology
- Sociologists, economists, and artists
- People who are disillusioned with today’s social and economical frameworks
Book Summary for Blockchain by Stephen P. Williams
Introduction
From financial experts to conceptual artists, almost everyone is talking about blockchain these days. Blockchain was created to support Bitcoin, but it remained undiscovered for years until engineers recognized its potential went well beyond that of currency. Because of all the excitement, many philosophers are dubbing this new technology the “next enlightenment.”
What is the origin of blockchain? Blockchain software is essentially an unhackable, irreversible ledger. Its distributed technology provides unparalleled openness and accountability, endangering conventional middlemen including as banks, corporations, and even governments.
Don’t worry if it seems perplexing. You’ll discover how technology works, how it’s being used to business, economics, climate change, and the arts, and what it may mean for society in the future in this book synopsis.
The blockchain is a groundbreaking new sort of ledger.
According to Google, blockchain is a digital ledger or book that records accounts and monetary transactions.
Consider this to make it seem dull: ledgers are the pillars of civilisation. Without them, we couldn’t have developed cities or operated effective marketplaces. They help us keep track of our accounts, verify home ownership, and show citizenship.
The international economy runs on a centuries-old ledger system known as double-entry bookkeeping. The two columns of information in these ledgers are debit and credit. A transaction is error-free if the buyer’s and seller’s credit and debit balances match, unless there is a mistake in the buyer’s or seller’s records.
In double-entry accounting, middlemen are required to build confidence in the system and verify that transactions are genuine and correct. Brokers, bankers, and other middlemen verify the authenticity of transactions.
However, throughout history, this technique has not always shown to be accurate. During the 2008 financial crisis, it was found that several huge firms, such as Enron and Lehman Brothers, used numerous sets of records to hide their real financial activities. These firms have been able to abuse the system throughout the years to launder vast sums of money.
Since the Internet’s inception, many have believed that it would put a stop to such offenses. However, because to the Internet’s vulnerability, big financial transactions have been hacked in the past.
All of this might be changed by blockchain technology. The blockchain was first created to support the cryptocurrency Bitcoin. Every purchase or transaction is recorded on the blockchain, ensuring that a digital currency cannot be spent twice. To view the transactions online, all you need is an Internet connection.
Verification, in addition to credit and debit, is a third column on the blockchain ledger. It eliminates the requirement for third parties. The system is built on trust.
From how artists may confirm the origin of their work to how currencies like the dollar are valued, blockchain technology is already revolutionizing everything. By removing the danger of manipulation and ballot loss, voting might be made even more safe.
Is this technology really reliable? How do we know? The blockchain differs from traditional ledgers in that it is unhackable and immutable. In the next part, we’ll go through it in further depth.
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Lesson 2: Blockchain technology is unhackable and unchangeable.
On a clear night, imagine staring up at the stars. A celestial network is