Block Chain Development
In Chapter 1 and Chapter 2 of Mastering Blockchain (Bashir, 2018), the basics of blockchain and the fundamentals of decentralization are presented. The assignment this week will be to complete a Journal entry. A Journal is similar to a diary or a log as it records the detailed accounts, thoughts, experiences, etc. of the writer. This is not a research paper or an initial post for a Discussion Forum. For this assignment you will record a Journal entry that will cover the topics provided below. Each of these questions/topics should cover your own understanding of the course reading material. Each of the section should reflect a substantive paragraph thoroughly covering the questions/topics. The purpose of this assignment is to record your own thoughts on these questions and topics; not to repeat the information provided within the course reading material. Therefore, APA citations and referencing is not needed but information from the course material should have some recognition such as According to Bashir.. or as mentioned in Mastering Blockchain. Keep your entries single spaced. Indent each paragraph. Do not research other sources as this is unnecessary and a waste of your time and effort. The assignment is looking for your thoughts based on the weekly readings. The topics for the Journal entry this week:
- In your own words, explain blockchain and how it works as if you had to provide a description with to a person with little to no knowledge of what it is.
- What is the Byzantine Generals Problem and how does blockchain solve this problem? Why is this important for validity and trust?
- What is decentralization and why is it important?