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

Smart contract use cases


In this section, we will be discussing how smart contracts as a technology can disrupt every aspect of society and its economy.

Figure 9.2 depicts 12 use cases for smart contracts:

Figure 9.2: Smart contract use cases

Insurance

Most of the insurance processes are disjointed by nature with many human interventions. Smart contracts along with the IoT can make self-aware decisions for automated insurance payouts.

It increases savings by reducing duplicated work in verifying reports and policies.

Trade finance

Smart contracts facilitate faster letters of credit and payment initiations, leading to streamlined international transfers. This increases the liquidity of assets, improves efficiency in creating contract agreements, and promotes faster approval of payments.

Derivatives

Smart contracts eliminate duplicate processes during a trading life cycle by streamlining post-trade processes. It supports real-time valuation of promotions, automated external event processing, and automated...