Operation Sunlight

Operation Sunlight

Operation Sunlight

Are you angry yet?

If not you should check your pulse as you should be livid!

Every day we are seeing more and more of America erode. We see our leadership appear to act in their or their special interest buddies interests and not ours. We see them tell us to stay home, stay safe, while they’re out traveling the World and Country.

We see the 14 days to slow the spread turn into a year of lockdowns, forced vaccines, vaccine passports, all of which has and is continuing to crush small businesses, lives, and more.

We see our children being programmed with marxism in our schools, our votes not count, our voices not heard, the richest getting richer, while the rest are getting poorer. We see our borders being overrun by illegal aliens to whom we will have to pay for in perpetuity.

We see illegals treated better than our honored troops and veterans. We saw our most important election robbed from us in broad daylight while our leaders were either complacent or complicit in the fraud.

Are these leaders all selected not elected as well? Using these same systems to cheat, we ask ourselves? Is that why these leaders are quiet? We see our place of prominence in the World turned into a laughing stock. We see our great land and fortune being turned over to China and others. America is circling the drain; our American dream is turning into an Orwellian nightmare.

Are you angry yet?

It may seem all hope is lost, but it’s not. The problem many Americans have realized is we put our faith and hope in one great man.

This great man, our great President Donald J. Trump, told us the only force strong enough to stop this corruption is US, “we” the American people. “We” showed up to rallies, “we” donated to the Republican establishment, “we,” thought it was enough, but “we” didn’t truly listen.

It’s like having an amazing quarterback, but his entire team sat on their hands and refused to play. This great quarterback can only run the ball so far; it’s up to us to bring it home.

Many want to help, many peacefully want to take back our Country, but they simply don’t know how. These same people who want to help but don’t know how, are busy trying to raise their families, keep a roof over their heads, and are limited on what they can actually do.

Here is where Operation Sunlight comes in. We have been tricked into thinking the Central Government is the final say, the be all end all of our Country, but that’s simply not true.

Our great founders established our Constitution, yes, but they left the majority of the power with the States. Basically, the states delegated the power to wage war, declare peace, negotiate and add tariffs in foreign affairs; but most all other rights stay with the States. It is also worth mentioning,
delegation is temporary. It is not a surrender of rights, and the States could even take back those powers too if they choose.

It’s crucial Americans know this; these laws, mandates, etc., the Central government puts on our States are, in many cases, unconstitutional. It is the State leaders who continue to allow these unconstitutional practices
to happen.

This must stop! We must retake control of our States at the State level. We must hold leadership accountable. Operation Sunlight does this. Patriots in this operation, in these areas, start at the State level requesting the ballots cast and voter lists from the 3-7 biggest Cities in each State.

This data, once received, will then be analyzed by Dr. Shiva and other brilliant data scientists to see if there are any errors, fraud, etc. If there is, we determine who in that County or City is responsible for remedying the error/s. We organize fellow patriots in the area and peacefully protest the person in charge of fixing the error or the appropriate authority to levy fraud charges against the person who certified the fraud.

People will continue to abuse the system until there are consequences; so far, it appears there are no consequences for election fraud, etc. Using this method, we peacefully protest only the people who have the power to right the wrong. Standing on street corners waving Trump flags is not going to work; while patriotic, it’s simply not effective.

We must rally and protest only where it matters; we must focus Sunlight on the individuals or groups who can right the wrongs and give us back our vote. Right now in Arizona, the Senate has bravely agreed to conduct a forensic, hand count audit of 2.1 million votes, in where Trump supposedly lost by under 11,000 votes. If the reports and witnesses in Arizona are right, we should see the fraud exposed, and then it’s up to a few leaders who can right the wrong.

This, too, is where Operation Sunlight comes in. We peacefully support the patriots conducting the audit; if fraud is found, we peacefully protest the people who have the power to right the wrong. If we get Arizona
back, we then have Georgia—where an audit is in process. We have Michigan, where the Court says the Secretary Of State unconstitutionally changed the voting process. We have Wisconsin, where indefinitely confined votes and other unconstitutional issues arose.

We also have New Mexico, New Hampshire, and others. It’s a domino effect. If we get back Arizona—it will start a brush fire of patriotism that could turn into a roaring forest fire that can’t be extinguished—until we have peacefully righted these wrongs.

The people that certified the fraud must be prosecuted; we can’t allow these issues to happen in the future. We need to fix our voting system and have a plan there too, but first, we must take back our votes at the state level.

Many overlook that California has 55 electoral college votes; if fraud is found there and overturned, that is enough to overturn the entire election in just one State. We must get our vote back; we must end this corruption peacefully.

We must no longer wait for one man to do this for us, we must do this for ourselves, and it starts with a very simple email we will send you that you send off to your County (or City) Clerk to request data. We can do
this, but it is Us who must do this.

Our kids, family, and Country are counting on us to peacefully take this back. My great Uncle Benjamin Franklin helped create this Republic; it is up to us to keep it.

To join fellow Patriots in your area, please email us at operationSunlight@protonmail.com; we can do this!

It’s as simple as an email to start, you request the data, and once you receive it send it to us.

We have some of the best and brightest on board and more coming on board shortly. The organic support is enormous; Americans want to help; they just don’t know how. They see America eroding and feel disgusted,
they complain to friends and family but feel helpless and defeated, but together we can peacefully take the power back.

Trump told us it was up to us; we have to get in the game now, turn the Sunlight on the people who wronged us, who can right it for us—starting with our votes—and peacefully take it all back State by State. No more wasted energy, no more rallies just for the sake of rallies, no more protesting the wrong places and people, no more sending money to people complicit or complacent to these issues, a true plan to use focused
Sunlight in the areas where it matters.

Join Operation Sunlight today; it’s free, the way our Country is supposed to be. It’s run by the people for the people, no establishment types, no special interests, and not me. It’s simply uniting fellow patriots State by
State with a plan to peacefully take it all back, starting with our vote. It’s how we take it back peacefully, neighbors helping neighbors with a plan at a State level, not some do nothing establishment group. It’s us, for us, by us.

As GW Said “Truth will ultimately prevail where there is pains to bring it to light,” George Washington.

Email us at operationSunlight@protonmail.com

Weekly Plans: Measurable Tactics, Not Abstract Concepts

Weekly Plans: Measurable Tactics, Not Abstract Concepts

weekly plans

Do you have problems following through and actually accomplishing your well-laid plans? It can a lot of fun, and highly motivating, to create new plans. However, following through is not always as much fun.

If you find yourself always going back to your old habits, and not reaching your goals, then you should check out the book 12 Week Year. One of the key tenets to Moran’s goal planning is creating and tracking your weekly plans.

As the old saying goes, people overestimate what they can do in a year and underestimate what they can do today. Instead, by shortening the timeline into 12 weeks instead of 12 months, we can see real progress on our goals in a shorter time. And to get there you need to create a weekly plan.

A Tale of Two Business Owners

Let me tell you a story about the entrepreneur who started the year with huge ambitions and visions of grandeur in their eyes. They sat down on New Year’s Eve and created their goals for the coming year. They weren’t really sure what the end of the year would look like because they hadn’t launched their latest course yet so they created arbitrary sales goals without any data or testing.

Additionally, last year’s book sales hadn’t been tracked so they didn’t know their exact conversion rates on their landing page. But instead, they continued to set goals for the coming twelve months with pie in the sky sales goals. Finally, without looking back at their email list or size of their audience they created goals without any concrete data.

The next morning they woke up late after a long night out. But they didn’t worry, they still had the whole year in front of them.

A few days turned into a few weeks as daily life started to get in the way of planning for their annual goals. They knew that most businesses do really well during the final quarter of the year, so they weren’t worried that the first quarter had dismal numbers.

I’m sure you know how the story ends. Days turned into weeks and months, summer turns into fall and soon you’re planning next year’s goals without getting any closer to this week’s goals. Instead entrepreneur number two sets shorter timelines and creates actionable steps to reach their goals.

With the shorter timeline, they know what their schedule will look like and can plan when to schedule their focus blocks. Thanks to their strategic planning, which includes actionable steps,  they know what to do each time they sit down to work. And in only weeks, instead of months, they reach their goals.

12 week year

12 week year

Choose the Second Way With the 12 Week Year

It’s easy to see you want to choose the second option. Stop setting goals that are abstract and too large to break down into actionable steps. Instead, start creating goals based on a 12-week timeline so you can shorten the horizon and accomplish your goals.

You’ve probably heard of 90 days plans and wondered how they’re different from the 12 week year. And the biggest difference is that they are created as part of a larger plan. They are still based on the idea of annual planning in terms of 12 months.

Whereas the 12-week plan is a singular plan in itself without being part of the traditional annual planning process. Each 12-week section of time is created as it’s own separate entity with its own set of goals and measurable objectives.

At the end of each 12-week timeline, you take a break, reevaluate your progress, and then set new goals for the next 12 weeks. And the biggest key to setting goals you can accomplish is to create measurable tactics you can track along the way.

12 week year

12 week year

Use Measurable Tactics in Your Weekly Plans

Your 12-week plan is just a wish and a hope without measurable tactics. For example, if your goal is to lose weight, then some examples of measurable tactics you can control include:

  • Get up at 5 am and workout for 30 minutes
  • Drink 64 ounces of water each day
  • Don’t eat any food after 8 pm

You can objectively track these daily activities so that at the end of the week you have a concrete number that tells you whether or not you will reach your goals. In this example you have three objectives you can measure over the next seven days. These objectives are your lead measures which are tasks you can control.

At the end of the day, you have a number you can objectively look to determine whether or not you can lose weight at the end of your 12 week year.

Moran suggests that 65% compliance signals a job well done and hitting your key objectives 85%+ of the time is excellent. So, for our three objectives over seven days we want to aim for at least 14 checkmarks well done and 18 to reach excellence.

When you set specific key metrics that you can track and measure, you will see success in your plan. When you set arbitrary goals such as pay off my debt by next year, you will never reach your goals. Instead, break it down to see how much you owe and commit to decreasing your debt by ten percent in 12 weeks.

Determine the exact amount of money you need to save and/or earn each week, then track this amount. The smaller number that is tracked on a much shorter timeline will determine the level of success you see in your larger goals.

Move Away From Abstract and Start Measuring

As you can see the 12 week year takes traditional annual planning and turns it upside down. Instead, focus on a smaller timeframe so that you can break your goals down into bite-sized chunks you can get done today.

Your weekly plans are based on your larger goal for the 12 weeks time period. Each step moves you closer to accomplishing your goals. And each plan is based on actionable steps you can track and measure objectively.

I truly believe you can improve your life by improving the books you read. You can check out my YouTube video here where I share the top reasons you should read more books. And be sure to subscribe to my channel so you don’t miss any videos.

What Is Blockchain? How are Blockchain & Cryptocurrencies Linked? What Are The Different Types & Uses Of Blockchains and Cryptocurrencies?

What Is Blockchain? How are Blockchain & Cryptocurrencies Linked? What Are The Different Types & Uses Of Blockchains and Cryptocurrencies?

What Is Blockchain? How are Blockchain & Cryptocurrencies Linked? What Are The Different Types & Uses Of Blockchains and Cryptocurrencies?

Not all cryptocurrencies—and not all blockchains that the various cryptocurrencies rely on—are created equal. All cryptocurrencies rely on one form of blockchain technology or another to function—without blockchain technologies, cryptocurrencies would have no reliable way of handling the kind of decentralized, “trustless” accounting necessary to ensure a hack- and tamper-proof ledger of transactions.

It can be quite challenging to attempt to summarize all of the various blockchain technologies currently in existence—there are currently thousands of them. An easier way to go about doing this is first to look at the kind of blockchains currently in existence in a general sense, and then move on to a discussion of the various types of cryptocurrencies themselves.

Different Types Of Blockchains

Before discussing the different types of blockchains, it would be useful first to have an understanding of blockchain technology in general. Blockchain technology, defined at perhaps its most simple, is a distributed accounting ledger that is used to record transactions in a tamper-resistant, verifiable, and permanent manner. When blockchain technology is described as “open,” it refers to the open-source code that most blockchain protocols are built on.

Blockchain technologies can be either public (like Bitcoin) or private and still use this open-source code. Sometimes, you’ll see the term “distributed ledger” used to describe certain types of blockchains. This is really just another way of saying “decentralized,” as the continually developing ledger which records transactions are shared by multiple participants in the blockchain and is not owned or controlled by a single central authority.

Blockchain technology allows efficient accounting of any transaction between two parties, largely because there is no need to rely on a third party (like a bank, in traditional financial transactions) to verify or facilitate the transaction. A transaction is mutually agreed upon by the parties involved—an exchange of a set amount of cryptocurrency between crypto wallets, for instance—and is then entered into the ongoing ledger—the next block on the chain.

Once entered and verified by the blockchain network, the transaction is permanent and can’t be altered in any way. The various cryptographic schemes (like proof of work or proof of stake) behind these blockchains allow for both the accurate recording and verification of the transactions, resulting in a hack-proof system.

It can perhaps get a bit confusing with the new applications that blockchain technology is being used for. There are, in effect, three primary kinds of blockchains, if you’re not counting databases or distributed ledger technology, which are both built on the same technological foundations.

Public Blockchains

There are public blockchains—such as the kind used by Bitcoin, Ethereum, and in fact every other form of cryptocurrency. This type of blockchain is generally open-source and “democratic,” allowing anyone to participate simply as users making transactions through the blockchain, or as “miners.” Miners (called Validators in Ethereum) verify the validity of new blocks by solving complex mathematical “puzzles” through a proof of work protocol and are awarded a unit of cryptocurrency for their efforts.

Members of the public are also allowed to participate as community members and even to an extent as developers, suggesting or in some cases implementing advances and refinements in the way the blockchain functions. A good example of this is the Ethereum blockchain: though still using proof of work protocols for validation of new blocks, there has been substantial discussion of moving to a proof of stake system, which brings with it significant energy savings as it relies on one node for the validation of new blocks instead of many nodes all engaged in redundant work, in a race to “solve” the next new block.

Most significantly, all transactions recorded on a typical public blockchain are fully transparent and allow anyone to examine the details of any (and all) transactions. Refinements in blockchain technology allow for public blockchains with “private” functionality, which is blockchains that operate in much the same way as the Bitcoin public blockchain, but which are still capable of securely processing transactions, as we’ll see below in the discussion of so-called “private coins.”

Public blockchains are built to be completely decentralized, meaning there is no central authority, individual, or other entity controlling which transactions are entered into the ongoing ledger that makes up the blockchain or dictating the order in which they are validated and processed. Public blockchains are meant to be resilient, tamper-proof, and “censorship-resistant.”

This is accomplished by allowing anyone to join the network and run a full blockchain node, regardless of their geographical location, nationality, or other signifying characteristic. Because of this, it is next to impossible for governments or other would-be regulating authorities to interfere in the operation of a public blockchain.

Private (and Consortium) Blockchains

There are private blockchains—examples would be things like R3 Corda and Hyperledger. Also, sometimes called “permissioned” blockchains, private blockchains are different in a number of significant ways from public blockchains. In order to join the network of devices that runs a private blockchain, a would-be participant must first be granted consent.

Transactions are, therefore, more private, and are only available to those who have already been given permission to join the network. Private blockchains, while often not fully centralized, are much more centralized in nature than public blockchains, as they rely on something like a central authority to grant permission and oversee transactions. The authoritative bodies running a private blockchain have significant control over both participants and development (or “governance”) structures.

Private blockchains are most commonly used by enterprises who want to share data and collaborate by utilizing or accessing it, but naturally don’t want their proprietary business information available to any member of the public, which would be the case with a public blockchain.

Consortium Blockchains

Also sometimes called “confederated” blockchains, these are an offshoot of private blockchain technology, and are essentially the same as private blockchains with the marked difference that they rely on a group of authorities rather than a single entity. This allows different entities—in theory, different corporations, for instance—to collaborate using data available to every member of the consortium. Though they may be in direct or indirect competition, by sharing data that is common to their interests, they are able to collaborate effectively, and there is mutual benefit from such an arrangement. Consortium blockchains, it is hypothesized, will likely see use by entities like governments, banks, financial institutions, and corporations in the procurement, logistics, and supply chain sectors.

Types of Cryptocurrencies

Also sometimes called “confederated” blockchains, these are an offshoot of private blockchain technology, and are essentially the same as private blockchains with the marked difference that they rely on a group of authorities rather than a single entity. This allows different entities—in theory, different corporations, for instance—to collaborate using data available to every member of the consortium. Though they may be in direct or indirect competition, by sharing data that is common to their interests, they are able to collaborate effectively, and there is mutual benefit from such an arrangement. Consortium blockchains, it is hypothesized, will likely see use by entities like governments, banks, financial institutions, and corporations in the procurement, logistics, and supply chain sectors.

Payment Currencies

Cryptocurrencies of this type are intended for the payment of goods and services. Payment currencies can be used for transactions between private parties for whatever purpose, or (as is increasingly the case with Bitcoin) can be used to pay for tangible items in “the real world.” More businesses are accepting Bitcoin as a payment every day, and in some cases, local governments have moved toward accepting the cryptocurrency as a form of payment for things like parking tickets. In almost every case, payment currency cryptocurrency can also be “cashed out” from their digital form in exchange for local fiat currencies like the dollar, the euro, etc. Examples of well-known payment currencies are Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Tether (TUSD) and Litecoin (LTC), among others.

Blockchain Economies

This is often argued as a step forward in the concept of digital, decentralized currency. A blockchain economy, which is often also called simply a blockchain platform, utilizes blockchain technology in broader, more innovative ways. Instead of merely existing to keep a record of various cryptocurrency transactions, blockchain economies allow their users to create things like discrete digital assets (most commonly referred to as tokens) and decentralized applications (DAPPS) that use the underlying blockchain technology as a basis for transactions of a different type.

In one notable instance, a cryptocurrency called Golem (GNT), while distinct and separate from the cryptocurrency primarily supported by the Ethereum blockchain (commonly also called Ethereum, but more correctly called Ether), exists entirely on the Ethereum blockchain. The value of Golem is not tied to that of Ether—it merely “piggybacks” on the Ethereum technology, which is designed in such a way as to make the creation of “tokens” like the Golem cryptocurrency possible.

Though this is an example of a cryptocurrency within a blockchain economy, the economies themselves are also used for the support and payment of things like virtual assets, processing power, the running of dependent applications, and many more various (and imaginative) purposes.

Perhaps the most notable cryptocurrencies falling under the example of blockchain economies would be Ether (ETH), Ethereum Classic (ETC), BCH (SLP), EOS (EOS), NEO (NEO), and Tron (TRX).

Privacy Coins

This is often argued as a step forward in the concept of digital, decentralized currency. A blockchain economy, which is often also called simply a blockchain platform, utilizes blockchain technology in broader, more innovative ways. Instead of merely existing to keep a record of various cryptocurrency transactions, blockchain economies allow their users to create things like discrete digital assets (most commonly referred to as tokens) and decentralized applications (DAPPS) that use the underlying blockchain technology as a basis for transactions of a different type.

In one notable instance, a cryptocurrency called Golem (GNT), while distinct and separate from the cryptocurrency primarily supported by the Ethereum blockchain (commonly also called Ethereum, but more correctly called Ether), exists entirely on the Ethereum blockchain. The value of Golem is not tied to that of Ether—it merely “piggybacks” on the Ethereum technology, which is designed in such a way as to make the creation of “tokens” like the Golem cryptocurrency possible.

Though this is an example of a cryptocurrency within a blockchain economy, the economies themselves are also used for the support and payment of things like virtual assets, processing power, the running of dependent applications, and many more various (and imaginative) purposes.

Perhaps the most notable cryptocurrencies falling under the example of blockchain economies would be Ether (ETH), Ethereum Classic (ETC), BCH (SLP), EOS (EOS), NEO (NEO), and Tron (TRX).

Utility Tokens

On a blockchain that supports it, the creation of a “token” is similar to, but not the same as, the creation of a unit of cryptocurrency. For a token to qualify as a utility token, there is, however, a strict set of legal regulations and requirements. We won’t go into those requirements here, but one example of a token that is currently considered a utility tokens is Binance’s “BNB” token. This token was initially created to allow for owners of the token to pay for trading fees with a discounted rate on the Binance Exchange.

Utility tokens can sometimes be digital tokens used in transactions to pay for or fund blockchain-based services or products. They typically run on a blockchain platform—which you’ll remember is another name for a blockchain economy. The most popular utility tokens to date are based on the Ethereum blockchain, but as new blockchains come into existence all the time, other blockchains have (and will continue to) spawn their own tokens.

Aside from BNB, other notable examples of utility tokens include the Basic Attention Token (BAT), Civic (CVC), OmiseGo (OMG), Monarch Token (MT), and 0x (ZRX).

Stablecoins

Lastly, there are stablecoins, so-called because (unlike other cryptocurrencies), they are intended to hold a fixed value and be traded at the same price, without market fluctuations being a factor. This kind of cryptocurrency is popular among investors and other traders of different kinds of cryptocurrency, as they represent a way to possibly hedge against possible losses in the secondary cryptocurrency being used to pay for the stablecoin.

For instance, say an investor holds $1,000 worth of Bitcoin. If that investor suspects that the value of the Bitcoin is likely to decrease in the near future, he or she could buy $1,000 worth of a stable coin asset, thereby divesting the held Bitcoin and being protected from the (assumed) devaluation. This, in theory, should protect the trader from financial loss—if his or her instincts are correct. However, with all things that have to do with money, there’s no such thing as a guaranteed thing. Everything has risks, and one must do their due diligence and contact professional financial advisors before making any decisions. Please note, this article is not financial advice, but to help give you a better understanding of the blockchain and cryptocurrency landscape.

The methods that different stablecoins use to maintain a fixed price vary. Stablecoins can be tied to a currency—for instance, a hypothetical stablecoin could be said to always be worth $1 USD. Though the value of that $1 USD may fluctuate, the stablecoin will always be exchangeable (at least in theory) for $1 USD. Like other commodities traded on traditional stock markets, stablecoins can also be tied to real-world commodities like precious metals, or in some cases, “baskets” of commodities, as is commonly done in traditional market investing.

Notable examples of stablecoins would include Dai (DAI), Gemini (GUSD), Paxos (PAX), Tether (USDT), TrueUSD (TUSD), and USD Coin (USDC).

Conclusion:

** This is not financial advice and these are simply my own opinions, as such, this should not be treated as explicit financial, trading or otherwise investment advice. This is not explicit advice to buy these cryptos, do you own research.**

***Disclaimer: Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.

***ALWAYS check with professional tax service providers and legal professionals before you buy, sell or trade cryptos!

Thanks for reading, God Bless and have an awesome one!

Be sure to check out our other articles on to cryptocurrency, bitcoin and blockchain technology below:

“Blockchain: What It Is and How It Works”; which delves into the history of blockchain, how blockchain works, how cryptocurrency uses blockchain, discusses anonymity, various types of blockchains and the different uses.

 “What is Ethereum? How does Ethereum work? ETH Explored:” Dive deep into one of the largest blockchains, discover how it is different from Bitcoin and other cryptocurrency projects.

 “How To Store Cryptocurrency / Safeguard Your Crypto Assets”; which discusses the most popular cryptocurrencies, how to protect your crypto, online wallets, offline storage, specialty hardware, crypto exchanges, and even gives Crypto Beadles Personally Recommendation with storing cryptocurrencies.

 “Scrubbing Currency: A Comparison of Crypto to Fiat for Known Money Launderings”; This article dives into the various efforts to curb money laundering, typical money laundering with fiat currency problems faced by authorities worldwide, the rise of cryptocurrency, the differences between traditional fiat and cryptocurrencies, the history of traditional banking and it’s many failures.

What is Ethereum? How does Ethereum work? ETH Explored:

What is Ethereum? How does Ethereum work? ETH Explored:

What is Ethereum? How does Ethereum work? ETH Explored:

Chances are you’ve heard of Bitcoin, the first cryptocurrency created in 2009 by a mysterious (some would even say shadowy) developer—or group of developers—using the pseudonym Satoshi Nakamoto. You may even be a little familiar with the blockchain, the virtual ledger of transactions that makes Bitcoin possible, and know that blockchain technology is expected to have a revolutionary impact on … well, everything. However, have you heard about Ethereum?

You may have heard of Ethereum and know that it’s a cryptocurrency similar to Bitcoin. It’s actually the second-largest cryptocurrency based on market capitalization, which (at the time of this writing) is over $18 billion USD; But Ethereum isn’t just a cryptocurrency—it’s a separate blockchain platform, with distinct differences to the one that underpins Bitcoin. The name Ethereum refers to the Ethereum blockchain—the proper name of the cryptocurrency is Ether (though it is often referred to as Ethereum or ETH).

Founder of Ethereum Vitalik Buterin
Getty Images

Ethereum was launched on July 30th, 2015, by a group of eight developers. It was initially proposed in late 2013 by a Russian-Canadian programmer named Vitalik Buterin, who was joined on the project by Mihai Alisie, Amir Chetrit, Charles Hoskinson, and Anthony di Iorio. The initial five developers were joined by Joseph Lubin, Jeffrey Wilke, and Gavin Wood in early 2014.

At the time of its initial launch, a single Ether token (or “coin”) was worth about $0.30 USD. At the time of this writing, a single Ether token is worth $170.77. In other words, $30 of Ether in 2015 would be worth a lot more today than it was at its inception.

How Does Ethereum Work?

The Ethereum blockchain is an open-source platform used to create and run decentralized digital applications—commonly called “dapps”—that enable its users to conduct transactions directly with one another to buy, sell, or trade goods and services without a centralized authority serving as a “middle man.” Users of the Ethereum blockchain can transfer money without needing to first go through a bank, can draw up binding sales contracts without calling on the services of a lawyer, and can even raise funds for projects like app development through a system that relies on “crowd sales,” which operate in a way that’s similar to traditional crowdfunding systems, but (like everything on the Ethereum blockchain) is decentralized.

Ethereum runs on a global network of computers that work together as a sort of supercomputer, assembling and running “smart contracts,” or applications that operate independently of any third party. This means these smart contract apps are highly resistant to tampering—hacking, interference, or even censorship—as the Ethereum blockchain is (due to its distributed nature) theoretically impossible to hack.

While the blockchain that powers Bitcoin transactions was created almost solely for that purpose, the Ethereum project has always had larger goals in mind. In fact, Ethereum’s own website puts it in plain language, stating “Ethereum is a global, open-source platform for decentralized applications. On Ethereum, you can write code that controls digital value, runs exactly as programmed, and is accessible anywhere in the world.”

That code—the smart contracts—runs on what’s called the “Ethereum Virtual Machine,” which is another name for that decentralized, distributed computing network made up of all the devices running Ethereum nodes. Anyone can set up and run an Ethereum node, which provides computing power to the larger virtual machine. Anyone else can then run a smart contract—essentially, an application written to run on the Ethereum Virtual Machine.

Blockchain Differences: Ethereum vs. Bitcoin

The Bitcoin blockchain exists, first and foremost, to keep track of Bitcoin. Though other uses have presented themselves, that first blockchain was devoted to making ownership and transfer of the world’s first cryptocurrency possible. The Ethereum blockchain also tracks its own cryptocurrency—Ether (ETH)—but its main focus is far different. While the Bitcoin blockchain is (more or less) a ledger of transactions, Ethereum’s blockchain was built with a focus on running the decentralized applications written specifically for it.

The Three Layers of Ethereum

In order to focus primarily on running decentralized, distributed applications, Ethereum was constructed with three layers. The first layer is basically the blockchain—the large network of computers that process transactions and keeps a ledger of them, much in the same way that the Bitcoin blockchain works. The second layer is the software layer—the programming language (called Solidity) that the smart contracts are written in and run on. The second layer relies on the first for its operation. The third layer is made up of all the different applications that run on Solidity, with different features and offering different services to users of the Ethereum network.

Proof of Work

Then there’s Proof of Work vs. Proof of Stake. This gets a little technical, so bear with us. Proof of work is essentially a method of protecting against tampering or interference, like a distributed denial-of-service (or DDoS) attack. DDoS attacks work by tying up all of the resources of a targeted computing system by sending an avalanche of bogus requests—imagine someone tying up your phone by calling so quickly and so often that it was impossible to receive other calls or make any outbound calls yourself.

Proof of work—which was the central revolutionary idea behind the Bitcoin blockchain—allows for what are called trustless and distributed consensus systems. Basically, that translates into a system that relies on a public ledger of every Bitcoin transaction—ever—to keep track of the flow of the cryptocurrency. That ledger relies on “blocks” of transactions—and those blocks are “chained” together, each one relying on the one before it for proof of validity.

But these blocks have to be verified by nodes on the network before they’re accepted onto the chain. Think of it this way: each new block is like a puzzle with a set number of pieces. Those pieces are sent out—digitally—to every node on the blockchain network that’s set up to accept them. The only purpose of these nodes is to verify these new blocks. Now imagine each puzzle piece has a random number on it. The puzzles pieces will only fit together correctly one way—say to form a square—but the numbers have nothing to do with how the pieces fit together. That’s where the puzzle-solving comes in.

So, these puzzle-solving nodes scramble to assemble the puzzle correctly, trying to combine the pieces in different ways until they find the right order that makes the desired shape. The first one to get the square announces it to the rest of the network—essentially shouting “Bingo!”—and then transmits the instructions for how to put the puzzle together. The instructions are the order in which those random numbers must be assembled, row by row, to make the square. It takes some time to solve the puzzle, but once it’s solved, it can easily be verified by other nodes on the network (by following the pattern of random numbers, allowing them to form squares with their own puzzle pieces, thereby validating the work of that first lucky puzzle solver).

That’s the proof of work: the list of random numbers in the correct order to solve the puzzle. The way proof of work guards against tampering or DDoS attacks is pretty straightforward: an attacker can’t target every puzzle solving node at once, so even if they manage to shut down one or two, there are a bunch of other nodes working on the puzzle—which will still get solved.

That’s a very simplified example, but it’s more or less accurate. In Bitcoin, the puzzle solvers are called “miners,” and they’re rewarded for solving the puzzle by being allowed to create a new Bitcoin, which is their payoff for the amount of work they put in—work that was done to verify the new block on the blockchain, and solving these puzzles isn’t trivial. In some estimates, all the computers running the Bitcoin blockchain at any given moment are consuming about the same amount of energy as the entire country of Ireland. That’s significant.

Proof of Stake

Then there’s Proof of stake. This system operates much differently. Proof of stake works sort of like a lottery. You “buy-in” for the chance to validate a new block before it gets added to the chain—to check it over, run computations on it, and make sure it’s accurate. In fact, these block creators are called “validators” in the proof of stake system.

The validator is chosen more or less at random—like in a lottery—but the amount of cryptocurrency they’ve put up—their “stake” in the process—does have a direct effect on their likelihood of being chosen. Think of it like buying lottery tickets: the more you buy, the higher your chance of winning, though there is still the chance that someone who has bought fewer tickets (put up less stake) will get the prize. You don’t lose the stake you put up—in fact, if you’ve chosen to validate the new block, you receive a new unit of cryptocurrency as a reward.

The way this system guards against malicious action is simple—if you’re caught trying to alter a new block or do something shady with it, you do lose the stake you put in. It’s like a guarantee—in a proof of stake system, you’re essentially saying “I promise this much cryptocurrency that I won’t do dishonest things if chosen to validate the next block.” See the logic? The more you put up, the higher your chances of being chosen as a validator—and the greater your loss if the rest of the network calls shenanigans on you.

The single most significant advantage that proof of stake has over proof of work is that it’s much more economical. Once a validator is selected, they have the exclusive right to validate the next block in the chain. That means one computer doing computations—instead of hundreds of thousands all racing with copies of the same puzzle, trying to be the one to solve it first. The other validators aren’t wasting energy, which dramatically reduces energy consumption compared to proof of work, and this is (of course) much better for the environment.

Ethereum hasn’t yet converted to a proof of stake validation system, but it’s something that’s been widely discussed, and the current consensus is that (sooner or later), the Ethereum blockchain will run on proof of stake.

Other Benefits of Ethereum

Ethereum is, as we’ve seen, significantly different in terms of operation than the traditional Bitcoin blockchain. There are other improvements over the older technology—transactions are faster on Ethereum, at about 15 per second, while Bitcoin has less than half of the transmission speed, at about seven per second.

It’s also cheaper to send transactions on Ethereum than on Bitcoin. This gets complex very fast, but when you’re sending cryptocurrency, there’s always a transaction fee—the amount you’re paying to have that transaction transmitted through all of the various computers that make up the network. That fee has been growing on Bitcoin—transaction fees range significantly depending on how fast you want your transaction to go through.

However, Ethereum uses a different method of calculating transaction fees, and though it is comparing apples to oranges, it is still much, much lower. In Ethereum, you don’t pay per transaction—which is how Bitcoin does it—but rather per computational step, which is more befitting a network built and intended on which to run applications. Ethereum uses a system they refer to as “gas,” and each computational step requires a specific amount of gas. The price of gas is determined dynamically by the users of the network—higher network usage drives the price up, for instance—and the total fee is calculated as the amount of gas required times the current gas price. It may seem a little confusing, but it’s cheaper—current transaction fees on the Ethereum network are about $0.16.

Ethereum’s Amazing Flexibility

Perhaps the most fantastic thing about Ethereum’s blockchain system is how flexible it is. You can, for instance, easily create your own cryptocurrency. The Solidity program language and the Ethereum system has built-in, everything you need to write code that would allow you to create a new form of cryptocurrency, set a value to it, and allow for interested parties to buy and sell it. This is done by creating a “token,” or an object that has a certain value assigned to it by the creator. The value of the new cryptocurrency can change over time, and you could theoretically create a competitor to the Ether cryptocurrency while using the network that Ether is native to.

Not only that, but you can create games on the Ethereum network. The smart contracts allow for the creation of games of chance—like dice, or roulette—and there are, in fact, already Ethereum “casinos” which are increasing in popularity all the time.

To learn more about cryptocurrency, blockchain, and ethereum, please be sure to check out our blog post Here on the Top 25 Bitcoin, Blockchain and Cryptocurrency books!

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Top Blockchain, Bitcoin And Cryptocurrency Books For Beginners Or Those Who Want To Learn More!

Top Blockchain, Bitcoin And Cryptocurrency Books For Beginners Or Those Who Want To Learn More!

Top Blockchain, Bitcoin And Cryptocurrency Books For Beginners Or Those Who Want To Learn More!

Want to learn more about the bitcoin, blockchain, and cryptocurrency, but not sure where to begin? While the Internet is usually a great place to start extensive research, it can sometimes be difficult to sieve through all the information in search of what is useful, valuable, and even accurate. In this article, we have compiled 25 books all about blockchain and cryptocurrency, all of which contain information beginners should understand and appreciate. Read on to learn more.

***Please note, this list and review of books is not a recommendation to buy, sell, or invest and is not to be misconstrued as financial advice. Always seek professional financial and legal advice from certified professionals before investing in anything.

#1. The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology that Powers Them By Antony Lewis

This is an accessible guide to Bitcoin, blockchains, and cryptocurrency and is aimed at the reader with little to no background on the subject. Lewis covers the history and basic background of blockchain technology and cryptocurrency, including Bitcoin, Ethereum, and other cryptocurrencies. Readers can gain a good general understanding of Bitcoin basics, including how the blockchain works, what it is used for, how payments are made and how transactions on the blockchain network are kept secure and “hack-proof.”

The author also delves into the subject of buying and selling Bitcoin, as well as the process of mining it. He covers these topics in an accessible way, especially for a general audience who may not know the first thing about the technology behind Bitcoin. Other cryptocurrencies are examined and explained, and some time is spent on the subject of cryptocurrency pricing and how relative values are typically assigned to “virtual currency.”

#2. Blockchain: The Next Everything By Stephen P. Williams

This introduction to blockchain technology and everything it makes possible is engaging, well-written, and easy to understand, even for readers who don’t have a highly technical background. Williams tackles the subject of the blockchain by examining how cryptocurrencies like Bitcoin are in essence the tip of the iceberg when it comes to what this technology can and—in the view of Williams and many others—will deliver.

He manages to explain the subject in a straightforward and accessible way, using apt metaphors to bring understanding to a general audience and does an admirable job of illustrating why this unhackable technology and its decentralized system of operation may revolutionize banking, business, and eventually many aspects of our everyday lives. He also dives into how blockchain technology represents a genuinely revolutionary and potentially life-changing paradigm shift once it sees widespread use, which Williams depicts as all but inevitable.

#3. The Internet of Money by Andreas M. Antonopoulos

Antonopoulos, is a well-known information-security expert who has written other titles on the subject of Bitcoin, presents a collection of essays that deal less with explaining the technical ins and outs of Bitcoin and the blockchain, but rather takes an informative and nuanced look at the significance of the cryptocurrency that changed everything and the revolutionizing power of the technology behind it.

Antonopoulos presents an intriguing view of a world where Bitcoin brings transformative and disruptive power to financial systems which have grown antiquated in their function and their influence. He makes the case that Bitcoin represents less a novel currency that exists in the decentralized and democratized blockchain, but in actuality is a harbinger of sweeping social change and transformation.

Andreas writes that Bitcoin represents an evolution in economic systems that will fundamentally change the way the concept of currency is thought of and utilized, and this “internet of money” will bring sweeping social and political changes, altering the international landscape of trade and finance in bold, progressive, and liberating ways.

#4. The Unified Wallet: Unlocking the Digital Golden Age by Kyle Kemper

Kemper presents a speculative vision of a world a few years from now, when cryptocurrencies will have matured to a point where a unified digital wallet will represent a revolution in personal freedom, allowing the individual not only to access trade and commerce on a global scale—with no need to exchange currencies or worry about exchange rates. It will also pave the way to revolutionize the way the private citizen navigates political and private institutions.

Kemper makes a case for a mature adoption of blockchain technology leading to sweeping changes in how we store, retrieve, and access everything from financial exchanges to legally binding contractual agreements and even personal medical records. With a solid grounding in the potential of these technologies as they exist today, Kemper illustrates one way the key elements could be drawn together to form the basis for a digital revolution in not only commerce but information technology as we know it.

#5. The Crypto Crash Course: The Ultimate Cryptocurrency Guide for Beginners! A Thorough Introduction to Cryptocurrency Mining, Investing and Trading, Blockchain, Bitcoin and Digital Coins, and More… by Frank Richmond

Perhaps a bit sensationalist in scope and tone, The Crypto Crash Course nonetheless succeeds in providing a solid grounding in the blockchain technology that made Bitcoin and other cryptocurrencies possible. Richmond goes on to discuss many of the other “altcoins” in the cryptocurrency world and suggests methods to capitalize on investing in not only Bitcoin but some of the lesser-known cryptocurrencies as well.

Richmond ties the financial collapse of 2008 to the birth of Bitcoin and sees blockchain technology as a liberating force capable of changing the way commerce is conducted. Presenting solid arguments for how the existing financial system was fundamentally changed by blockchain and what Richmond calls “the cryptocurrency revolution,” he goes on to detail the meteoric rise in popularity of cryptocurrency and moves on to focus on the financial opportunities the emerging cryptocurrency markets represent.

#6. Ultimate Blockchain Technology: Mega Edition by Lee Sebastian

Marketed as a six-book series, the combined page count of this “Mega Edition” is 378 pages, making each individual book a little on the slim side. Originally published on Amazon’s Kindle platform, these books represent a decent, non-technical introduction to the concepts behind the blockchain and Bitcoin.

Sebastian does a good job of providing technical information in a manner that’s accessible to most readers, and the six separate volumes cover everything from the basics of understanding the concepts behind the blockchain to how its distributed ledger technology is used in the buying and selling of crypto—or cryptocurrencies—in general. The later volumes of this book series detail Bitcoin investment strategies and the basics of Bitcoin mining—a highly technical undertaking that few may want to engage in. Still, an informative (if quick) read.

#7. The Bitcoin Standard: The Decentralized Alternative to Central Banking by Saifedean Ammous

In this book, Ammous takes an extensive view of Bitcoin, analyzing its historical importance and the factors that led up to its creation, the various economic properties which gave it its meteoric rise, and continues with a speculative look at the long-term implications not just economically, but socially and politically as well. Perhaps most interesting is the connection drawn between monetary collapse—which Bitcoin could be argued to be a symptom and a harbinger of—and the historical collapse of civilizations which seem to coincide with the failure of existing currency systems.

Ammous does an admirable job of explaining both how Bitcoin functions and the technological underpinnings of this revolutionary new form of currency, and proceeds to provide intriguing and wide-ranging speculation on Bitcoin’s likely impact on world governments and how they may already be losing control of currency—bringing about an apolitical, international economic reality where the individual has control over how and where to engage in commerce, unfettered by centralized banking authorities or governments.

#8. Beyond Blockchain: The Death of the Dollar and the Rise of Digital Currency by Erik Townsend

Townsend, formerly a distributed systems architect and an expert in the nascent technologies involved in the creation of the blockchain and its subsequent use to facilitate cryptocurrency, subsequently worked as a hedge fund manager, where he gained extensive insight into the ins and outs of reserve currency.

As such, this makes him perhaps uniquely qualified to write a book with such a provocative title, and he shares his expertise on both conventional and virtual currency and how the latter may well pave the way for the eventual obsolescence of the former. Most compelling is Townsend’s suggestion that the “death of the dollar” may not come at the hands of apolitical cryptocurrency adopters embracing the democratization of a decentralized economic system, but rather by foreign governments—namely Russian and Chinese—intent on eliminating the US dollar’s dominance on the world economic stage.

#9. Unblocked: How Blockchains will Change Your Business (and What to do About it), by Alison McCauley

Here, McCauley focuses on the blockchain and the revolutionary changes this technology promises to bring with it as it gains ever more mainstream acceptance and relevance. Comparing blockchain technology to no less transformative technologies than social media, mobile computing, and even the birth of the internet itself, she makes the case that blockchain technologies will invariably and inevitably alter the structure and functioning of conventional industries and business models, while simultaneously bringing sweeping changes to every aspect of private and public life.

Practical and measured in scope and content, Unblocked illustrates with admirable clarity what blockchains are and how they present novel and far-reaching opportunities for change. What’s more, McCauley illustrates strategies that informed parties can use to harness the power of this growing phenomenon and use it as a force to empower—not obviate or disrupt—the function of existing organizations in a world soon to be transformed by this pervasive technological advance.

#10. Blockchain Technology: Understanding the Technology behind Cryptocurrency, Blockchain’s Limitless Potential and its Effects on Money and the World by David Vela

Vela presents a compendium of facts about blockchain intended for a general audience in a way that’s both accessible and concise. He examines the fundamental history of blockchain technology and provides an easy-to-understand grounding in the basic design and functionality of the blockchain. Building on basic definitions and concepts central to understanding the blockchain, Vela covers issues like how the integrity of the blockchain is maintained and verified, how the fundamental trust of blockchain accounting functions, and goes on to present blockchain technology as a revolutionary force capable of bringing about unprecedented change.

He examines both the numerous benefits of blockchain technology as well as some of what he sees are possible downsides or disadvantages, expounds on the likely effect of blockchain technology on the future of global financial markets, and rounds out the book by clearing up some “myths and misconceptions” of the nascent technological powerhouse.

#11. The Crypto Intro: Guide To Mastering Bitcoin, Ethereum, Litecoin, Cryptoassets, Blockchain & The Age Of Cryptocurrency Investing by Nathan Rose

Rose writes about Bitcoin and other cryptocurrencies primarily from an investor’s point of view, touting the many advantages of the various forms of cryptocurrency and likening them to “the next internet” in terms of their capacity to enact sweeping changes in commerce, investing, and other aspects of finance.

Underscoring the decentralized and stateless nature of cryptocurrency, Rose highlights the challenges traditional financial institutions, and perhaps even governments may face with the rise of cryptocurrency. It is marketed as a “practical guide,” and it’s not an unfair evaluation, as the author presents all the information a cryptocurrency novice would need to begin investing—or at least to make their first purchase—in crypto. With guides on how to join a cryptocurrency exchange, it’s a good read for those who are interested in cryptocurrency primarily as a potential investment opportunity.

#12. The Layman’s Guide to Bitcoin: What it is, How it Works, and Why it Matters by Logan Brutsche

This Kindle-only eBook is a quick read, and while geared toward a non-expert audience, does a thorough job of explaining the intricacies of Bitcoin and blockchain in a manner that’s both accessible and complete. Making good use of illustrations and examples, Brutsche guides the reader through a solid understanding of the key concepts and works his way up to a comprehensive overview of more advanced concepts and trending developments.

The book aims to provide a grounding in the core concepts of Bitcoin and other cryptocurrencies and does a good job of that. While not providing exhaustive information on the subject or going into the intricacies of related technology like blockchain, by the end of this eBook, readers will be conversant on the subject of cryptocurrencies as a whole. A great starting point for those interested in the subject.

#13. Understanding Blockchain: Learn How Blockchain Technology is Powering Bitcoin, Cryptocurrencies, and the Future of the Internet by Daniel Frumkin

This book presents blockchain as a sort of conquering liberator, bringing its “disruptive” power to centralized digital networks and presenting a wildly democratizing force that is, as many other books and authors have said, the most innovative and revolutionary technological advance since the birth of the internet.

The book explains blockchain from the technology that powers it to its use in practical applications, its intersection with Bitcoin, and expounds from there on the various advantages blockchain technology provides. It sketches out current and likely future scenarios of how businesses will use blockchain in all manner of applications. With an almost evangelical zeal, the author posits that blockchain promises to put an end to corruption and the centralized institutions that enable it, ushering in a new era of openness, individual empowerment, and honesty.

#14. Blockchain: Bitcoin, Ethereum & Blockchain: Beginners Guide to Understanding the Technology Behind Bitcoin & Cryptocurrency by Artemis Caro

Caro presents this work (originally a three-volume set on Amazon’s Kindle platform) as less of a technical guide and more of a practical introduction to the concepts behind cryptocurrency technology. Intended for a non-technical audience, the book examines the history of blockchain technology and its use in managing and safekeeping digital transactions, a basic roadmap regarding ways that businesses and individuals may potentially profit from adopting blockchain, and continues onto the subject of Bitcoin and the Ethereum cryptocurrency.

The author’s look at Bitcoin and other cryptocurrencies is as practical as the first part of the book, and he again offers some strategies that one might use to buy, safely store, and trade Bitcoin and Ethereum, ultimately with an eye toward making a profit in these emerging virtual markets. Presenting cryptocurrencies, powered by the blockchain, as nothing less than a financial revolution in the offing, Caro provides a solid and enthusiastic grounding in the subject while not delving too deeply into the technological basis behind them.

#15. The Book Of Satoshi: The Collected Writings of Bitcoin Creator Satoshi Nakamoto by Phil Champagne

Satoshi Nakamoto is the pseudonym adopted by the creator—or creators—of Bitcoin, and the person or people behind it have been cloaked in shadowy details and internet myth since the inception of the original cryptocurrency. Champagne presents Satoshi Nakamoto as roughly equivalent to the currency created under that name: existing only virtually, a primarily online entity who cannot be interacted with in an analog world.

In an effort to present a more complete picture of the thinking or motivation behind the Nakamoto persona, Champagne catalogs and presents the “essential writings” as they appeared under the Nakamoto name in emails and posts on computer forums. Sticking to chronological order, the material allows for a great understanding of Bitcoin and its fundamentals, as well as giving the perceptive reader some insight into the motivations behind the Nakamoto enigma.

#16. The Blockchain and the New Architecture of Trust by Kevin Werbach

An Associate Professor of Legal Studies and Business Ethics at Wharton, Kevin Werbach offers an original and interesting take on many of the intricacies involved with the blockchain. He presents his analysis of blockchain and what he sees as its true potential, as well as some of the potential dangers and drawbacks inherent in the technology. He meticulously explains how blockchain works, which he presents as a technology “resting on foundations of mutual mistrust.”

Werbach details the emergence of the blockchain, its intersection with Bitcoin, and how (despite early adoption by money launderers and the international drug trade) the technology behind blockchain has been the genesis of hundreds of new companies, the destination of billions of dollars of speculative investment, and has now been embraced by financial institutions and corporate organizations worldwide.

#17. The Story of the Blockchain: A Beginner’s Guide to the Technology That Nobody Understands by Omid Malekan

Malekan sets out to explain blockchain technology for the layman by using a series of anecdotes that mesh metaphorically with the intricate complexities inherent in the underlying framework that makes the blockchain run. Presenting blockchain technology as one of the most innovative and promising technological advances in recent memory, Malekan seeks to demystify the subject by making it relatable, accessible, and plainly understandable.

The author starts with the origins of the blockchain and explains why—and how—it was created in the beginning. The book progresses by explaining how it’s being used today, and how it has a good chance of eventually impacting everything about the way our technological world works. Each chapter covers a particular aspect, but the book flows together well and presents an easy-to-follow narrative that will leave the reader with both a greater innate understanding of this revolutionary technology and the necessary knowledge—and likely motivation—to get involved in it firsthand.

#18. The Blockchain Revolution: How Cryptocurrency Is Shaping The New Digital Economy by Branden M. Griffith

This book, while not focused solely on investing or trading in Bitcoin and other cryptocurrencies, culminates with information many interested in the subject may be looking for, while also providing a solid basis in the technologies that underlie the cryptocurrency revolution and make these new monetary platforms possible. He doesn’t focus solely on Bitcoin, but delves into other cryptocurrencies like Litecoin, Ethereum, and the Neo platform.

Griffith presents blockchain technology as something that is still widely underrated in terms of its value to investors and compares it to earlier technologies that didn’t see widespread use or engagement until they were clearly game-changers in their specific niches. Intended to be a comprehensive guide to understanding blockchain and its impact on the future of the economy, the book does a good job of covering blockchain’s historical development and places some bets on where the future of the technology is likely to lead and provides a solid grounding necessary for anyone considering getting more involved with cryptocurrency.

#19. Cryptocurrency FOMO: How to get into Bitcoin without really caring what Bitcoin is by Derek Parnett

Intended for people interested in delving into Bitcoin, but who may not want or need to understand the intricacies of the blockchain and the importance and promise of the technology that makes cryptocurrencies possible, this book is written for those who want to quickly—but as safely as possible—dive into Bitcoin. It’s geared toward an audience that doesn’t particularly care about the technological framework behind the most revolutionary new type of currency to perhaps ever exist, but who sees its value and its potential for widespread use and potential profitability.

Parnett covers the basic facts needed before purchasing Bitcoin, the various processes involved in actually acquiring the cryptocurrency—including a step-by-step guide on how to set up and fund accounts on Bitcoin exchanges—and even goes into the steps necessary to purchase other alternative cryptocurrencies.

#20: The Age of Cryptocurrency: How Bitcoin and the Blockchain Are Challenging the Global Economic Order by Paul Vigna and Michael J. Casey

Journalists who cover Wall Street and the global economy, Vigna and Casey take an in-depth look at Bitcoin, its relevance, its history, and its likely international impact. Taking the stance that Bitcoin and other “cybermoney,” as they refer to cryptocurrency, is poised to revolutionize traditional financial and social norms, they make a strong case as to its relevance to everyone—not just the techno-elite. They go into one of perhaps the most overlooked aspects of cryptocurrency: it’s ability to provide access to the global economy to millions of currently “unbanked” people the world over.

It’s not all wine and roses, in their view—Bitcoin has in the past suffered wild fluctuations, marked instability, and has been tied to money laundering and the international drug trade. Though those days may largely be behind the cryptocurrency, it still promises to be a disruptive technology, with the potential to eliminate thousands of jobs as well as, as Vigna and Casey state, alter the relevancy and the function of governments worldwide.

#21: Cryptoconomy: Bitcoins, Blockchains & Bad Guys by Gary Miliefsky

Miliefsky looks into the dark side of Bitcoin and some of the scams, thefts, and other criminal activities tied to the innovative cryptocurrency in this title. Making the compelling argument that would-be investors need to educate themselves on the various complexities of the “crypto-economy” before diving in with the intent to invest, Miliefsky details the various risks involved in a clear and engaging manner.

Miliefsky examines the Foreign Exchange (or FOREX) and its relation to cryptocurrency trading, and details some of the shadier developments in Bitcoin’s recent history, including its growing currency of choice among hackers and ransomware developers who demand payment in the tens of thousands of dollars—via Bitcoin—in order to undo damage or restore data to its rightful owners—or who, in some cases, have managed to steal hundreds of thousands of dollars of Bitcoin from improperly secured digital exchanges.

#22: Bitcoin Pandemonium: The Ongoing Economic, Public, and Legal Debate over the Nature and Impact of Bitcoin by Nicolas L. Wenker

Wenker examines the complexities of a global currency like Bitcoin that—by its very nature—is decentralized and lacks clear regulatory control. While many point to that decentralized, democratized aspect of the cryptocurrency as one of its greatest strengths, Wenker points out that world governments are keen to control its trade and use, and are continuously seeking ways to implement controls on the otherwise anarchically traded cryptocurrency.

Wenker has done his homework. The book references hundreds of sources, from research reports to legal cases, and presents a complex panoramic view of Bitcoin and its impact thus far on global commerce. Covering not only the economic effect, but also the implications for technological changes and its likely impact on the way business will be done in the future, Wenker explores the almost frantic pace at which various international governments have (perhaps too late) attempted to limit or contain the use and influence of Bitcoin and other cryptocurrencies.

#23: Blockchain Basics Explained: The Definitive Beginner’s Guide to Blockchain Technology and Cryptocurrencies, Smart Contracts, Wallets, Mining, ICO, Bitcoin, Ethereum, Litecoin and Ripple by Tom Wolfe

Wolfe presents a picture of blockchain technology as the most significant technological innovation since the advent of the internet and makes the compelling case that it will soon become ubiquitous and global in its impact and influence. Forwarding well-developed claims that blockchain technology will change the way governments, banking institutions, the health industry, and business organizations operate and interact on a day-to-day basis, Wolfe paints blockchain as a multi-purpose tool with the ability to impact the lives of everyone on the planet.

#24: The Bitcoin Manifesto Paperback by Allan J Stevo

Presented as a “call to action,” this title aims to present a serious dialog about the future of Bitcoin, its strengths and weaknesses. The book also looks to dispel what maybe myths or outright lies about the nature and impact of the Cryptocurrency.

Stevo is a founding member of the New York Bitcoin Center and has the credentials to back up his claims. He may well be one of the most knowledgeable sources on the subject, and the picture he paints of Bitcoin and its potential as a revolutionary way to do business is both balanced and reasonable.

#25: The Blockchain Code: Decrypt the Jungle of Complexity to Win the Crypto-Anarchy Game by Dave Kinsey

Kinsey writes about the history of the blockchain, how the technology works and some of the uses it can be put to, as well as going into the background of the group that created it—and their motivations. Written so that a non-technical audience can quickly grasp the concepts discussed, this book goes into some of the finer points of blockchain technology and its potential to be a disruptive and revolutionary tool and presents readers with information intended to help them form their own conclusions about the likely impact of this new and exciting technology.

We hope that you find these books to be informative as you begin your journey to mastering the blockchain. If you have any more questions, Be sure to connect with us on our Telegram Community Channel today.

 

Also, be sure to check out our other articles pertaining to cryptocurrency, bitcoin and blockchain technology below:

“Blockchain: What It Is and How It Works”; which delves into the history of blockchain, how blockchain works, how cryptocurrency uses blockchain, discusses anonymity, various types of blockchains and the different uses.

“How To Store Cryptocurrency / Safeguard Your Crypto Assets”; which discusses the most popular cryptocurrencies, how to protect your crypto, online wallets, offline storage, specialty hardware, crypto exchanges, and even gives Crypto Beadles Personally Recommendation with storing cryptocurrencies.

“Scrubbing Currency: A Comparison of Crypto to Fiat for Known Money Launderings”; This article dives into the various efforts to curb money laundering, typical money laundering with fiat currency problems faced by authorities worldwide, the rise of cryptocurrency, the differences between traditional fiat and cryptocurrencies, the history of traditional banking and it’s many failures.

Blockchain: What It Is and How It Works

Blockchain: What It Is and How It Works

Blockchain: What It Is and How It Works

You have probably by now heard the term “blockchain,” either in reference to a cryptocurrency like Bitcoin or in relation to emerging technologies that somehow use the blockchain in one way or another. If you’re like most people, you don’t really know what all that means; “the blockchain” is an abstract idea that doesn’t immediately lend itself to concrete definitions.

Without blockchain, digital currencies wouldn’t exist. Blockchain technology has been applied in surprising, innovative ways around the world, and understanding what it is and how it’s used is likely to come in handy, especially if you plan on using or possibly investing in various cryptocurrencies or blockchain start-ups. Even if you have an understanding of blockchain technology, make sure to read through this article as you might learn a couple of things you didn’t already know, as this ground-breaking and novel application of computational concepts promises to continue to lend itself to new applications.

The History of Blockchain

It would be helpful to understand the history of the blockchain and its first theoretical beginnings as a computer science concept that was intended for use primarily with cryptography and encoded data. In the very beginning, one of the early forms of blockchain was something called the hash tree, or Merkle Tree, after its creator Ralph Merkle, who patented the concept back in 1979.

The function of the hash tree was to verify the validity and integrity of data as it was transferred back and forth between computer systems. In some of the earliest examples of peer-to-peer networks, making sure that data being handled by more than one physical machine remained intact—unaltered and uncorrupted—was very important.

Without being able to ascertain the structural validity of networked data, the power of peer-to-peer networking, and the ability to use multiple machines to handle and analyze extensive collections of data would have been out of reach. To ensure that data wasn’t being corrupted as it “changed hands” in the computer network was critically important, and that was the function of the hash tree: to prove and protect the integrity of data shared between numerous physical devices.

Merkle and other computer scientists continued work on the hash tree concept, and in the early ’90s, using hash tree technology, Stuart Haber and W. Scott Stornetta explored the idea of “secure chains of blocks” as a method of creating persistent document timestamps—a series of records made up of data that were interconnected.

Each record would rely on the one before it for proof of validity. The newest “block” of data in the chain would contain the history of the entire chain that had preceded it—and this was the very first working blockchain. It would be impossible for data in a blockchain to become corrupt—or to be altered or faked—since it could be checked by comparing its digital signature to each block that had come before.

Fast forward to 2008. A mysterious person—or group of people—using the name Satoshi Nakamoto first developed the concept of a distributed blockchain. This distributed blockchain would contain a secure and unchangeable history of every exchange of data that the blockchain was used for, and would rely on a decentralized, peer-to-peer network of computers to timestamp and verify each transaction. The distributed blockchain could be managed autonomously, without relying on any one central authority for validity.

This distributed blockchain became the central critical feature of Bitcoin; without the blockchain, Bitcoin could not be accurately accounted for. Not only was Nakamoto’s distributed blockchain central to the creation and use of Bitcoin, but critical to the implementation and use of all cryptocurrencies. This is the modern Bitcoin blockchain as we know it today.

How Does Blockchain Work?

It’s important to keep a few main concepts in mind when trying to understand how the blockchain functions. First, know that the blockchain holds a record of all data exchanges, referred to as a “ledger” in cryptocurrency circles. The ledger is made up of each data exchange, or transaction. Once a transaction has been verified and validated against the existing ledger, it is added to the ledger as a new block.

The blockchain is, in other words, a continually evolving record, or ledger, of exchanges—transactions—made up of separate entries, or blocks.

The blockchain relies on a distributed system of computing devices to maintain this record and to verify each transaction. When a device “taps into” the blockchain for any reason, it must first download the most recent section of the blockchain and compare it to already existing examples of the same blockchain on other computers via peer-to-peer networking. This way, each node that has access to the blockchain can verify each transaction by comparing it to the copy of the blockchain record that it had, in turn, previously received from another node.

Once a new transaction is compared to the blockchain and verified, it is “signed,” or committed to the record of transactions, and is added to the existing blockchain as a new block. As such, it can never be altered; any such attempt would result in a version of a blockchain which would be rejected as corrupt when compared to the data already contained in previous blockchain transactions. The ledger, in other words, cannot be fooled, as numerous copies of it exist and are being simultaneously created on many other networked devices.

How Does Cryptocurrency Use Blockchain?

So how does this peer-to-peer, distributed network know whom to trust with copies of the blockchain? This occurs through the use of “keys.” A key is a cryptographic device—essentially a code—which determines a unique identity for whoever uses the key. There are, in fact, a pair of keys—a public key and a private key that, when combined, create a unique digital signature. The public key is the identifying structure in blockchain transactions—it’s how other nodes on the peer-to-peer network identify you, and through this process of identifications know which bits of the blockchain you already hold and which (new) parts may need to be sent to you to keep the integrity of the blockchain intact.

Identical copies of the blockchain thus exist on every single node that accesses it at one time or another. If one device is disconnected from the blockchain for any period of time, all of the other connected devices keep adding transactions to the ledger and maintain the integrity of the blockchain. When a device reconnects, it receives new pieces of the blockchain in order to keep its individual copy of it correct and up-to-date.

For the purposes of sending and receiving cryptocurrency, your public key represents the address of your wallet—the place which holds the record of how many Bitcoin (or other cryptocurrencies) you currently have, and the address where transfers originate from or are sent to. These transfers are made possible by the other key that makes up the pair—the private key. This private key allows you to digitally sign and therefore authorize various actions, like sending cryptocurrency to another public key (or wallet) address.

It’s important to note that an individual’s private key should be seen as a valuable asset worth protecting and keeping secret. If anyone else were to somehow gain access to your private key, they would be able to access any of the digital assets (in the form of cryptocurrency) associated with the private key, and it would allow them to send those assets to any other wallet.

Putting the Pieces Together

Let’s look at a hypothetical transaction on the blockchain. Suppose Ralph is sending Satoshi one Bitcoin. Ralph would use a software interface (of which there are many) to specify Satoshi’s public key—or wallet address—and the amount of Bitcoin being sent. Ralph would then “sign” the transaction by validating it with the combination of his private key and public key.

In effect, Ralph would be declaring to the blockchain network a statement like “I, Ralph, as identified by my private key, am sending one Bitcoin from my wallet, as identified by my public key, to Satoshi, whose wallet is identified by his public key.”

The digital version of that statement—Ralph sends one Bitcoin to Satoshi—would be time-stamped with the exact time of transmission, and assigned a unique identification number. This is what makes up a transaction. That transaction would be broadcast to every node on the peer-to-peer network using that blockchain, which would make a note of it, add it to the ledger, and forever record it in the ever-changing blockchain data.

Every transaction that uses the blockchain contains all of the above: a unique ID, a timestamp, a destination as represented by a public key, and a unique signature that was generated by combining the public key of the wallet sending the transaction with the private key that designated the owner of that wallet.

Furthermore, every transaction is connected—chained—to the transactions that come before it. Anyone who knew the public key address of either Ralph or Satoshi could search through the blockchain for it, and see that one Bitcoin transaction at any point in the future.

So, Is It Truly Anonymous?

A lot has been made of the “anonymous” nature of blockchain trading. The idea of anonymity comes from the fact that your public key is a random sequence of alphanumeric characters—so the blockchain doesn’t record “Ralph” and “Satoshi,” but rather addresses like “35hyUziNW5eFj2GYNpA9gf4GJrPDrrgNQL” (which is a real Bitcoin public key wallet address). You can see how the idea of anonymity springs from this—it would be hard to identify an individual based on a string of letters or numbers like that.

The idea of a ” Pseudonymous,” or tracked blockchain, comes from the fact that every transaction is recorded in the entirety of the blockchain and can be examined by anyone. In other words, it is publicly available information. Moreover, it’s challenging to acquire cryptocurrency without providing some proof of identity these days, so in theory, every transaction can be traced back to an origin where fiat currency of one kind of another was exchanged for crypto. Though, in theory, every transaction on the blockchain is anonymous, regulations put in place by exchanges and other sources for acquiring cryptocurrency make that anonymity questionable at best.

Is Blockchain the future? Different Types of Blockchains for Different Uses

Lastly, let’s look at the different types of blockchains. There are three main types: public, private, and federated. The public blockchain is the type we’ve been discussing so far; it’s the blockchain that runs the Bitcoin network, among other things. No single entity is in charge of this blockchain. It’s decentralized, and anyone can read, write to, or audit the blockchain.

Private blockchains are run by individuals or organizations. With these types of blockchains, a central authority must grant permission to those who wish to read, write, or audit; access is selective and determined on a case-by-case basis. These types of blockchains are used when the cryptographic security of a blockchain scheme is desired, but the transactions or data stored in the blockchain are not subject to public scrutiny, which may be useful for a private organization or corporation.

Lastly, there’s the federated—also called consortium—blockchain. These are similar to private blockchains, but there is more than one central authority that can grant permissions. These involve a group of organizations or individuals who collaborate to make decisions on what kind of transactions are allowed to be created on the blockchain, and by whom. This type of blockchain would theoretically be useful for something like a collection of financial institutions who want to set specific guidelines regarding the validity or verification of each transaction as it gets added to the ledger. In this way, each transaction would have to be approved by a set number of federation members before being added to the blockchain.

These three types of blockchains lend themselves to different applications—public, private, and on a larger corporate or organizational level. Moreover, these blockchains are being used in increasingly inventive ways—not just to track the flow of cryptocurrency, but in applications like “smart contracts,” which don’t require any third-party to monitor or legalize the contract.

The application of blockchain data is useful for countless things, most notably secure and incorruptible data backup, the protection of intellectual property rights, medical records stored as data in blockchain format, the inventory and tracking of prescription drugs, encrypted messaging, and decentralization of many kinds—from stock markets to social networks.

The blockchain, though not a new idea, is a computing concept with a limitless number of possible applications and represents nothing short of a revolution in data storage, retrieval, and security. It’s a technology that will continue to see increased use and application, both in public, private, and federated forms, across a wide array of industries and services. It is the future—and the future is now.


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