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

Ethereum basic concepts

Ethereum builds on top of the Bitcoin blockchain, including key features such as a distributed ledger containing chained blocks, the proof-of-work algorithm, and so on. However, its biggest addition is the introduction of smart contracts, which are coded in a Turing-complete scripting language. Because of this new addition, unlike Bitcoin or its non-smart contract close relatives, Ethereum allows developers to address generic business problems.

Before getting to the basic concepts, we summarize some useful facts on Ethereum as follows:

  • Ethereum has three main ingredients:
    • Decentralization: For guaranteed execution
    •  Hashes: For safeguarding the world state
    •  Signatures: For authorizing programs and transactions
  • Since Ethereum is a blockchain, it uses mathematical algorithms to replace intermediary entities and bring untrusting parties together to do businesses.
  • Ethereum blockchain brings trust in data due to its ability to verify the validity of data on a node via its consensus...