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

Elements of the Ethereum blockchain


In the following section, you will be introduced to various components of the Ethereum network and the blockchain. First, the basic concept of the EVM is given in the next section.

Ethereum virtual machine (EVM)

EVM is a simple stack-based execution machine that runs bytecode instructions in order to transform the system state from one state to another. The word size of the virtual machine is set to 256-bit. The stack size is limited to 1024 elements and is based on the LIFO (Last in First Out) queue. EVM is a Turing-complete machine but is limited by the amount of gas that is required to run any instruction. This means that infinite loops that can result in denial of service attacks are not possible due to gas requirements. EVM also supports exception handling in case exceptions occur, such as not having enough gas or invalid instructions, in which case the machine would immediately halt and return the error to the executing agent.

EVM is a fully isolated...