Blockchain and Distributed Ledgers

by Alexander Lipton (Author), Adrien Treccani (Author)
Buy for $54.00 Excerpt

This textbook focuses on distributed ledger technology (DLT) and its potential impact on society at large. It aims to offer a detailed and self-contained introduction to the founding principles behind DLT accessible to a well-educated but not necessarily mathematically oriented audience. DLT allows solving many complicated problems arising in economics, banking, and finance, industry, trade, and other fields. However, to reap the ultimate benefits, one has to overcome some of its inherent limitations and use it judiciously. Not surprisingly, amid increasing applications of DLT, misconceptions are formed over its use. The book thoroughly dispels these misconceptions via an impartial assessment of the arguments rooted in scientific reasoning.Blockchain and Distributed Ledgers: Mathematics, Technology, and Economics offers a detailed and self-contained introduction to DLT, blockchains, and cryptocurrencies and seeks to equip the reader with an ability to participate in the crypto economy meaningfully.Contents:

  • Background
  • The Global Financial System and its Pain Points
  • A Primer on Cryptocurrencies and Distributed Ledgers
  • Essential Cryptographic Tools
  • Bitcoin — A Deep Dive
  • Ethereum — A Distributed World Computer?
  • Ripple — A Simple Solution to a Complex Problem?
  • Central Bank Digital Currencies and Stablecoins
  • Wallets and Key Management
  • Cryptocurrencies and Quantitative Finance
  • Current Research Topics
  • Present and Future of DLT

Readership: Students and professionals from quantitatively-oriented fields such as mathematics, computer science, finance, economics, banking, and supply chain management. Blockchain;Distributed Ledger Technology;Fintech;Electronic Money;Cryptocurrencies;Central Bank Digital Currencies;Bitcoin;Ethereum;Ripple;Smart Contracts;Tokenization;Payment Systems'At last — if you want to truly understand distributed ledger technology and its implications for payments, here finally is an authoritative and accessible reference book. No polemics, breathless praise, or impenetrable prose — the authors impartially explain how DLT works and how it can be used to upgrade our outdated payment systems. Along the way, the authors delight the reader with fascinating historical details and many practical applications. This book has instantly become the definitive source.' - Prof. Darrell DuffieThe Adams Distinguished Professor of Management and Professor of Finance, Stanford University

'An amazing tour-de-force, and a must-read for anyone hoping to build distributed ledger systems for financial transactions. Good material for both students and experts alike.' - Prof. Alex PentlandToshiba Professor, MIT

'This is an excellent introduction to DLT which is not just credible and insightful for advanced students trained in quantitative fields — but also very accessible for the general reader with limited knowledge of math or cryptography. As the book so aptly explains, there are at least two big challenges for anybody who seeks to understand the key principles of DLT: the field is dominated by 'zealots or their arch enemies' and the subject requires a good knowledge of cryptography, game theory and economics — three separate skills rarely taught in combination. However, the book aims for a 'balanced and well-reasoned discourse' — which it delivers in style — and it succinctly and effectively covers all three of the key elements of knowledge that need to be grasped to understand how DLT works. It is thus a tour de force! It should be required reading for regulators, finance practitioners, investors and economists, particularly given that DLT will almost certainly reshape the future financial system.' - Dr Gillian TettChair Editorial Board, Editor-at-large, USThe Financial Times

'Regardless of your views on cryptocurrencies, any modern practitioner of finance should be familiar with distributed ledger technology (DLT). Professor Alex Lipton and Adrien Treccani have written a fascinating tractatus that answers fundamental questions about the nature of money. They effectively demonstrate the intrinsic value offered by DLT, as the solution to many of the problems that have plagued financial systems for centuries. If there is one book that everyone should read on DLT, this is the one.' - Dr Marcos Lopez de PradoGlobal Head — Quantitative Research and DevelopmentStrategy & Planning, Abu Dhabi Investment Authority

'We are just at the tip of the iceberg when it comes to the disruptive potential of DLT. Trillions of dollars of value will be created over the coming decades as entrepreneurs find ways to capitalize on the technology to democratize finance and wealth management. This comprehensive book from Alex Lipton and Adrien Treccani provides a powerful place to start exploring the DLT opportunity as well as a definitive reference to those already active in the space. The book is unique in its balanced and well-rounded approach.' - Francisco FernandezAvaloq Founder and serial entrepreneur

'A very well-researched and rounded tour d'horizon of the brave new world of Blockchain, crypto and the technology's impact on how we will transfer ownership and value in the future. Alex and Adrien strike the right balance between academic rigor and practical relevance. A highly recommended read for both industry newcomers as well as veterans.' - Dr Mathias ImbachCo-Founder & Group CEO, Sygnum

'This book provides comprehensive coverage of the cryptocurrency ecosystem, with lucid explanations of the underlying math, technology, and economics. Technical material is seamlessly integrated with the authors' broad perspective and deep understanding of the past and future of blockchains, digital currencies, and decentralized finance. The book is an essential resource for practitioners and academics.' - Prof. Paul GlassermanJack R Anderson Professor of BusinessColumbia University

'Blockchain and Distributed Ledgers is a wonderful book. It is at once what the Russians call a brick, for its size, and what the English call a gem, for its clarity. And it is timely. The astronomer Carl Sagan says: 'We live in a society exquisitely dependent on science and technology, in which hardly anyone knows anything about science and technology.' It is this problem Lipton and Treccani are attempting to confront. A comfort, then, that some of our leading mathematicians are among our more discerning philosophers too.' - Edward PriceAdjunct Instructor, New York University (NYU)Interdisciplinary Journal of Economics and Business Law, 2021, Volume 10, Issue 2, pp. 141–143

Key Features:

  • Explains clearly the ideas underpinning DLT and dispels numerous misconceptions surrounding this technology in general and cryptocurrencies in particular
  • Provides all the necessary theoretical background allowing one to understand how DLT operates in both theory and practice

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Publication date
August 06, 2021
Page count
File size
35 MB

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