Blockchain Technology Overview

Blockchain Technology Overview

October 2018 | Dylan Yaga, Peter Mell, Nik Roby, Karen Scarfone
This publication provides a high-level technical overview of blockchain technology, aimed at readers with little to no prior knowledge. Blockchain is a distributed digital ledger that records transactions in a shared community, making it tamper-evident and resistant. The document covers the basic concepts, components, and mechanisms of blockchain, including cryptographic hash functions, transactions, asymmetric-key cryptography, addresses, ledgers, and blocks. It discusses different consensus models such as proof of work, proof of stake, and round robin, and explains how these models ensure the validity of transactions. The document also touches on smart contracts, forking, limitations, and misconceptions about blockchain technology. It emphasizes that blockchain is not a silver bullet and that organizations should consider its appropriate use cases. The publication is intended to help readers understand the fundamentals of blockchain technology and its potential applications.This publication provides a high-level technical overview of blockchain technology, aimed at readers with little to no prior knowledge. Blockchain is a distributed digital ledger that records transactions in a shared community, making it tamper-evident and resistant. The document covers the basic concepts, components, and mechanisms of blockchain, including cryptographic hash functions, transactions, asymmetric-key cryptography, addresses, ledgers, and blocks. It discusses different consensus models such as proof of work, proof of stake, and round robin, and explains how these models ensure the validity of transactions. The document also touches on smart contracts, forking, limitations, and misconceptions about blockchain technology. It emphasizes that blockchain is not a silver bullet and that organizations should consider its appropriate use cases. The publication is intended to help readers understand the fundamentals of blockchain technology and its potential applications.
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[slides and audio] Blockchain Technology Overview