Book Image

Ethereum Smart Contract Development

By : Mayukh Mukhopadhyay
Book Image

Ethereum Smart Contract Development

By: Mayukh Mukhopadhyay

Overview of this book

Ethereum is a public, blockchain-based distributed computing platform featuring smart contract functionality. This book is your one-stop guide to blockchain and Ethereum smart contract development. We start by introducing you to the basics of blockchain. You'll learn about hash functions, Merkle trees, forking, mining, and much more. Then you'll learn about Ethereum and smart contracts, and we'll cover Ethereum virtual machine (EVM) in detail. Next, you'll get acquainted with DApps and DAOs and see how they work. We'll also delve into the mechanisms of advanced smart contracts, taking a practical approach. You'll also learn how to develop your own cryptocurrency from scratch in order to understand the business behind ICO. Further on, you'll get to know the key concepts of the Solidity programming language, enabling you to build decentralized blockchain-based applications. We'll also look at enterprise use cases, where you'll build a decentralized microblogging site. At the end of this book, we discuss blockchain-as-a-service, the dark web marketplace, and various advanced topics so you can get well versed with the blockchain principles and ecosystem.
Table of Contents (18 chapters)
Title Page
Dedication
Packt Upsell
Contributors
Preface
Index

Chapter 8. Developing a Cryptocurrency from Scratch

In this chapter, we will discuss one of the wide-spread applications of Ethereum, that is, crypto tokens. We will begin with a short introduction to the Truffle framework and create an ERC20-compatible token using it. Then, we will discuss initial coin offerings (ICOs) and how they can be identified as scam, Ponzi, faucet-like, or legit. We will then introduce the concept of arbitrage with respect to cryptocurrencies. We will also learn about Fiat2Crypto (F2C) and Crypto2Crypto (C2C) exchange. Then, we conclude the chapter with yet another parity hack case study.

After studying this chapter, you will be able to:

  • Use Truffle to develop ERC20-compatible tokens
  • Identify Ponzi, scams, faucets, and legit ICOs
  • Understand arbitrage trading using cryptocurrencies.
  • Know about Fiat2Crypto and Crypto2Crypto exchange
  • Case study another parity hack and learn the importance of token safekeeping