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1 – 3 of 3Alevtina Dubovitskaya Ackerer and Damien Ackerer
This chapter reviews the underlying technologies of cryptoassets, including fundamental cryptographic primitives used in distributed ledger technologies and permissionless…
Abstract
This chapter reviews the underlying technologies of cryptoassets, including fundamental cryptographic primitives used in distributed ledger technologies and permissionless blockchain technologies and their consensus protocols such as proof-of-work and proof-of-stake. It discusses the pros and cons of existing approaches to improve blockchain scalability and considers the requirements for security and decentralization. The chapter also examines the following techniques: layer 1 tuning, layer 1 sharding, and layer 2 solutions. It concludes with an overview of technologies to swap cryptoassets off-chain, technical requirements for cross-chain transactions, and reviews cross-chain atomic swap implementation using hashed time lock contracts.
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H. Kent Baker, Hugo Benedetti, Ehsan Nikbakht and Sean Stein Smith
Bitcoin’s introduction as the first cryptoasset in 2009 ushered in a new era, representing a seismic shift in the financial markets. Since then, this evolving asset class has…
Abstract
Bitcoin’s introduction as the first cryptoasset in 2009 ushered in a new era, representing a seismic shift in the financial markets. Since then, this evolving asset class has generated much interest, excitement, and growth. This chapter begins by providing a brief background of cryptoassets. It then discusses their main types (cryptocurrencies, security tokens, and utility tokens), users (individual investors, major financial institutions, endowments, and hedge funds), and benefits and drawbacks. Next, it sets forth the book’s purpose, distinguishing features, intended audience, and structure. The chapter provides a synopsis of each of the remaining 21 chapters. Although no single book can encompass all changes and iterations of these technologies as they emerge in the marketplace, this book brings together a broad collection of industry expertise and academic analysis to create a book helpful to researchers, academics, and practitioners.
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