Summary

This chapter introduced the concept of decentralization, which is the core service offered by the blockchain technology. Although the concept of decentralization is not new, it gained renewed significance in the world of blockchain. As such, various applications based on decentralized architecture have been introduced recently. The chapter started with an introduction to the idea of decentralization. Next, decentralization from the blockchain perspective was discussed. Moreover, ideas related to different layers of decentralization in the blockchain ecosystem were introduced. There are several new concepts and terms that have emerged with the advent of the blockchain technology and decentralization from the blockchain perspective, such as DAOs, DAPPs, and various others. An introduction to all these terms was also provided in this chapter. Finally, decentralized applications with some examples were discussed. In the next chapter, fundamental concepts that are necessary to understand the Blockchain ecosystem will be presented. Mainly, cryptography will be introduced, which provides a crucial foundation for the blockchain technology.