Bitcoin, Blockchain, and Cryptoassets: A Comprehensive Introduction - Softcover

Schar, Fabian

Softcover

ISBN 10: 0262539160 ISBN 13: 9780262539166

Publisher: MIT Press, 2020

Synopsis

An introduction to cryptocurrencies and blockchain technology; a guide for practitioners and students.

Bitcoin and blockchain enable the ownership of virtual property without the need for a central authority. Additionally, Bitcoin and other cryptocurrencies make up an entirely new class of assets that have the potential for fundamental change in the current financial system. This book offers an introduction to cryptocurrencies and blockchain technology that begins from the perspective of monetary economics.

The book first presents a nontechnical discussion of monetary theory, enabling readers to understand how cryptocurrencies are a radical departure from existing monetary instruments, and provides an overview of blockchain technology and the Bitcoin system. It then takes up technical aspects of Bitcoin in more detail, covering such topics as the Bitcoin network, its communications protocol, the mathematics underpinning decentralized validation, transaction types, the data structure of blocks, the proof-of-work consensus mechanism, and game theory. Finally, the book discusses specific issues and applications, including price volatility, regulatory uncertainty, and central bank cryptocurrencies, as well as such alternative applications as decentralized verification and attestation, tokens, and smart contracts. The concluding chapter offers practical advice on getting started with Bitcoin. End-of-chapter exercises allow readers to test their knowledge. Bitcoin, Blockchain, and Cryptoassets is suitable for classroom use and as a reference for practitioners.

About this title

About the Author

Aleksander Berentsen is Professor of Economic Theory and Dean of the Faculty of Business and Economics of the University of Basel. Prof. Dr. Fabian Sch&aauml;r is Professor for Distributed Ledger Technology/Fintech at the Faculty of Business and Economics.<

Edition details

• Publisher: MIT Press
• Publication date: 2020
• Language: English
• ISBN 10: 0262539160
• ISBN 13: 9780262539166
• Binding: Paperback
• Number of pages: 384