Book Image

Blockchain By Example

By : Bellaj Badr, Richard Horrocks, Xun (Brian) Wu

Book Image

Blockchain By Example

By: Bellaj Badr, Richard Horrocks, Xun (Brian) Wu

Overview of this book

The Blockchain is a revolution promising a new world without middlemen. Technically, it is an immutable and tamper-proof distributed ledger of all transactions across a peer-to-peer network. With this book, you will get to grips with the blockchain ecosystem to build real-world projects. This book will walk you through the process of building multiple blockchain projects with different complexity levels and hurdles. Each project will teach you just enough about the field's leading technologies, Bitcoin, Ethereum, Quorum, and Hyperledger in order to be productive from the outset. As you make your way through the chapters, you will cover the major challenges that are associated with blockchain ecosystems such as scalability, integration, and distributed file management. In the concluding chapters, you’ll learn to build blockchain projects for business, run your ICO, and even create your own cryptocurrency. Blockchain by Example also covers a range of projects such as Bitcoin payment systems, supply chains on Hyperledger, and developing a Tontine Bank Every is using Ethereum. By the end of this book, you will not only be able to tackle common issues in the blockchain ecosystem, but also design and build reliable and scalable distributed systems.

Preface

Who this book is for

What this book covers

To get the most out of this book

Free Chapter

Say Hello to Blockchain

Say Hello to Blockchain

The emergence of blockchain and cryptocurrency

Interact with the blockchain

Types of blockchains

Building a Bitcoin Payment System

Building a Bitcoin Payment System

What is Bitcoin?

Getting started with Bitcoin

Building a payment gateway

Payment protocol using BitcoinJ

Bitcoin smart contracts

Building Your Own Cryptocurrency

Building Your Own Cryptocurrency

Compiling Bitcoin from source

New cryptocurrency – Readercoin

Peer-to-Peer Auctions in Ethereum

Peer-to-Peer Auctions in Ethereum

Introduction to Ethereum

Building an auction DApp

Deployment environment – multiple ways to enjoy!

Running the auction DApp

Tontine Game with Truffle and Drizzle

Tontine Game with Truffle and Drizzle

Truffle quick start

The Tontine contract

Cplayer as a CRUD contract

Tontine interfaces – Itontine

Interface implementation – Ctontine contract

Truffle unit tests

Frontend with Drizzle

Trying the DApp

Blockchain-Based Futures System

Blockchain-Based Futures System

Project presentation

Futures smart contract

Blockchains in Business

Blockchains in Business

Public versus private and permissioned versus permissionless blockchains

Privacy and anonymity in Ethereum

Why are privacy and anonymity important?

The Ethereum Enterprise Alliance

Blockchain-as-a-Service

Creating an ICO

Creating an ICO

What is an ICO?

Token contracts

Token sale contracts

Implementing our token sale contract

Contract security

Testing the code

Deploying to a test network

Verifying our contract code on Etherscan

Creating a frontend website

Suggestions for further work

Distributed Storage IPFS and Swarm

Distributed Storage IPFS and Swarm

Hosting our frontend

IPFS file uploader project

Supply Chain on Hyperledger

Supply Chain on Hyperledger

Food industry supply chain

Quick Hyperledger overview

Setting up the development environment

Fabric's Chaincode

Building a business network

Chaincode compilation and deployment

Running the project

Letter of Credit (LC) Hyperledger

Letter of Credit (LC) Hyperledger

LC concepts and design

Development environment

Creating a composer Fabric application

LC business network

Deploying the LC

Hyperledger Fabric on IBM Cloud

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Background

The Ethereum Virtual Machine (EVM) operates on words that are 256 bits, or 32 bytes, in size. Each 256-bit word of data costs 20,000 gas units to store, equating to 640,000 gas units per kilobyte. At the time of writing, the gas price is around 4.5 Gwei (0.0000000045 ETH), making a kilobyte of data cost 0.00288 ETH.

Scaling this up gives a cost of 2,880 ETH per GB of data, with the current price of $220 per ETH giving each GB a price tag of $621,000. This is an extremely high cost as compared to conventional centralized cloud storage, where the costs per GB are usually in the region of cents.

If we can't store large amounts of data in the blockchain itself, then the logical alternative would be to store it in a centralized storage layer, while making it available to the data layer located on a blockchain. An example of this would be a DApp that uses the blockchain...