In the previous chapter, we discussed about Ethereum blockchain, its uses, and how it has shaped the decentralized technology, not for just currency based uses but also for other industry verticals. Further, we learned about development on top of the Ethereum blockchain, using smart contracts.
In this chapter, we will discuss the Ethereum account in detail and also study an ether token; this discussion will help us to better understand decentralized applications. We will also briefly discuss some popular Ethereum tokens and smart contracts. We will also discuss some important topics such as the transaction sub state, the validation of an Ethereum Block, and the various steps involved in the process of block finalization. Following this, we will briefly discuss some disadvantages of an Ethereum-based smart contract and currencies, toward the end of this chapter.
These are the topics which are covered in this chapter:
- The Ethereum state transition...