Book Image

Blockchain Quick Start Guide

By : Xun (Brian) Wu, Weimin Sun
Book Image

Blockchain Quick Start Guide

By: Xun (Brian) Wu, Weimin Sun

Overview of this book

Blockchain is a technology that powers the development of decentralized applications.This technology allows the construction of a network with no single control that enables participants to make contributions to and receive benefits from the network directly. This book will give you a thorough overview of blockchain and explain how a blockchain works.You will begin by going through various blockchain consensus mechanisms and cryptographic hash functions. You will then learn the fundamentals of programming in Solidity – the defacto language for developing decentralize, applications in Ethereum. After that, you will set up an Ethereum development environment and develop, package, build, and test campaign-decentralized applications.The book also shows you how to set up Hyperledger composer tools, analyze business scenarios, design business models, and write a chain code. Finally, you will get a glimpse of how blockchain is actually used in different real-world domains. By the end of this guide, you will be comfortable working with basic blockchain frameworks, and develop secure, decentralized applications in a hassle-free manner.
Table of Contents (14 chapters)
Title Page
Copyright and Credits
About Packt

An overview of Ethereum

In late 2013, Vitalik Buterin sent an email to the blockchain community announcing a white paper outlining the idea for Ethereum. He described it as a universal platform with internal languages, so anyone could write an application. According to Vitalik, the original idea for Ethereum was to create a general-purpose blockchain for fintech. Ethereum is a variation on Bitcoin. Unlike Bitcoin, which is a blockchain focusing on payments, Ethereum is a programmable, general-purpose blockchain. The introduction of smart contracts is the key to differentiating Ethereum from Bitcoin.

A well-known analogy to describe Ethereum and smart contracts, which bring together untrusting parties trading digital or digitized physical assets, is a vending machine, as described at the end of Chapter 1, Introduction to Blockchain Technology

After a vending machine is made, nobody, including the machine owner, can change the rules. A buyer does not need to worry about the owner altering...