Book Image

Mastering Blockchain

Book Image

Mastering Blockchain

Overview of this book

Blockchain is a distributed database that enables permanent, transparent, and secure storage of data. The blockchain technology is the backbone of cryptocurrency – in fact, it’s the shared public ledger upon which the entire Bitcoin network relies – and it’s gaining popularity with people who work in finance, government, and the arts. Blockhchain technology uses cryptography to keep data secure. This book gives a detailed description of this leading technology and its implementation in the real world. This book begins with the technical foundations of blockchain, teaching you the fundamentals of cryptography and how it keeps data secure. You will learn about the mechanisms behind cryptocurrencies and how to develop applications using Ethereum, a decentralized virtual machine. You will explore different blockchain solutions and get an exclusive preview into Hyperledger, an upcoming blockchain solution from IBM and the Linux Foundation. You will also be shown how to implement blockchain beyond currencies, scability with blockchain, and the future scope of this fascinating and powerful technology.
Table of Contents (20 chapters)
Mastering Blockchain
Credits
About the Author
About the Reviewer
www.PacktPub.com
Customer Feedback
Preface

Introduction


Ethereum was conceptualized by Vitalik Buterin in November 2013. The key idea proposed was the development of a Turing-complete language that allows the development of arbitrary programs (smart contracts) for blockchain and decentralized applications. This is in contrast to bitcoin, where the scripting language is very limited and allows basic and necessary operations only.

Ethereum clients and releases

Various Ethereum clients have been developed using different languages and currently most popular are go-Ethereum and parity. go-Ethereum was developed using Golang, whereas parity was built using Rust. There are other clients available too, but usually, the go-Ethereum client known as geth is sufficient for all purposes. Mist is a user-friendly Graphical User Interface (GUI) wallet that runs geth in the background to sync with the network. More details on this will be provided later in the chapter, in the installation and mining section.

The first release of Ethereum was known...