Blockchain – Bitcoin as a Mainstream Case Study

“In my latest LTP article, I have attempted to provide high-level and (hopefully) user-friendly enough (i.e., not requiring high-tech knowledge) overview of the underlying cryptography behind blockchain and how it is used to ensure the immutability of the resulting database that can be safely shared between parties unknown to each other, without fear that it can be manipulated inadvertently.

There are many blockchain implementations in existence today, but bitcoin was the first and still is the most significant and the most successful one. It has been proven—in extensive real-life exploitation so far—as a very robust and fraud-resistant solution. Many non-payment use cases have also been implemented on top of the same basic bitcoin blockchain infrastructure, which proves it is also fairly flexible. For that reason, I believe that the good initial understanding of the bitcoin inner workings can be the perfect basis for understanding every other blockchain implementation and its potential.”

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