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

Fiat2Crypto and Crypto2Crypto exchange


Cryptocurrencies are not yet the financial instrument of choice for paying even the most routine purchases.

For example, to use a bitcoin wallet to buy a cup of coffee, we have to send BTC to the exchange for conversion, wait while the confirmations are processed, sell the bitcoins at a substantial loss, and then transfer the Fiat funds to our card. In some cases, the movement of our money would be the responsibility of an actual person acting as a courier. In the case of Ethereum, this is even more cumbersome.

There are many mushrooming exchange portals, but these carry a high risk. A couple of time-tested exchanges are poloniex.com and cex.io.

Estonia has adopted cryptocurrencies with open arms. The country has plans to open up a crypto bank by 2018 named Crypterium.

Figure 8.9 depicts the ICO sale for Crypterium. The crypto bank Crypterium, will be a basic DApp with the following exchange facilities:

  • Fiat2Crypto: The DApp withdraws Fiat money from the...