Book Image

Blockchain Developer's Guide

By : Brenn Hill, Samanyu Chopra, Paul Valencourt, Narayan Prusty
Book Image

Blockchain Developer's Guide

By: Brenn Hill, Samanyu Chopra, Paul Valencourt, Narayan Prusty

Overview of this book

Blockchain applications provide a single-shared ledger to eliminate trust issues involving multiple stakeholders. It is the main technical innovation of Bitcoin, where it serves as the public ledger for Bitcoin transactions. Blockchain Developer's Guide takes you through the electrifying world of blockchain technology. It begins with the basic design of a blockchain and elaborates concepts, such as Initial Coin Offerings (ICOs), tokens, smart contracts, and other related terminologies. You will then explore the components of Ethereum, such as Ether tokens, transactions, and smart contracts that you need to build simple DApps. Blockchain Developer's Guide also explains why you must specifically use Solidity for Ethereum-based projects and lets you explore different blockchains with easy-to-follow examples. You will learn a wide range of concepts - beginning with cryptography in cryptocurrencies and including ether security, mining, and smart contracts. You will learn how to use web sockets and various API services for Ethereum. By the end of this Learning Path, you will be able to build efficient decentralized applications. This Learning Path includes content from the following Packt products: • Blockchain Quick Reference by Brenn Hill, Samanyu Chopra, Paul Valencourt • Building Blockchain Projects by Narayan Prusty
Table of Contents (37 chapters)
Title Page
Copyright
About Packt
Contributors
Preface
Index

Nonce


The nonce is a 64-bit unsigned integer. The nonce is the solution to the puzzle. A miner keeps incrementing the nonce until it finds the solution. Now you must be wondering if there is a miner who has hash power more than any other miner in the network, would the miner always find nonce first? Well, it wouldn't.

The hash of the block that the miners are mining is different for every miner because the hash depends on things such as the timestamp, miner address, and so on, and it's unlikely that it will be the same for all miners. Therefore, it's not a race to solve the puzzle; rather, it's a lottery system. But of course, a miner is likely to get lucky depending on its hash power, but that doesn't mean the miner will always find the next block.