Exploring Bitcoin with Blockchain: Adopt Bitcoin to Reinvent Business Scaling with Lower Transaction Costs and Better Fraud Prevention

Building trust among customers and service providers in the zero trust environment.

Key Features

• Visual demonstration of Blockchain fundamentals and concepts of Bitcoin.
• Easy understanding of Bitcoin internals with the help of Python and its procedural language features.
• Includes questions and programming exercises to help readers test their skills.

Description

Exploring Bitcoin with Blockchain teaches readers how Bitcoin works from the ground up and how readers can use it to help businesses innovate and reinvent their business practices in the digital age.

The book covers some of the most important aspects of a Bitcoin network: blocks, transaction validations, mempool, different types of nodes, and the mining process. These concepts, such as timestamp and proof-of-work, are critical to understanding the Bitcoin system and getting practically started with Bitcoin. The book explains how to build payment addresses, define and secure wallets, and use BIP 0032 to construct HD wallets to begin Bitcoin transactions. This book helps readers to learn how to write Python scripts to create transactions, set the network fee, add security to transactions, and publish those transactions on the Blockchain network.

This book covers a lot of problem-solving exercises and programming tasks. It explores the Lightning Network, which allows parties to a smart contract to send and receive Bitcoins using their digital wallets without incurring small fees. While you’re learning it in depth, you get the opportunity to try out onion routing, and different improvements like Schnorr signature, and taproot.

What you will learn

• Learn about the possibilities of Bitcoin, smart contracts, and their applications in diverse industries.
• Investigate the internal workings of Bitcoin, its whole ecosystem, and how it functions as the most prominent cryptocurrency.
• Dive into Bitcoin’s consensus mechanism and learn how to set up Bitcoin wallets for personal money management.
• A brief explanation of how the Lightning Network protocol works.
• Explore topics like Forks, gossip protocol, P2PKH, P2SH transactions, Schnorr, and many more.

Who this book is for

This book appeals primarily to developers, tech-savvy students, and IT professionals eager to explore everything about Bitcoin and its fundamentals. Knowing the basics of Python is beneficial, although not an essential requirement.