Book Image

Learn Ethereum

By : Xun (Brian) Wu, Zhihong Zou, Dongying Song
Book Image

Learn Ethereum

By: Xun (Brian) Wu, Zhihong Zou, Dongying Song

Overview of this book

Ethereum is a blockchain-based, decentralized computing platform that allows running smart contracts. This book provides a basic overview of how Ethereum works, its ecosystem, mining process, and the consensus mechanism. It also demonstrates a step-by-step approach for building decentralized applications. This book begins with the very basics of Blockchain technology. Then it dives deep into the Ethereum architecture, framework and tools in its ecosystem. It also provides you an overview of ongoing research on Ethereum, for example, Layer 1 and 2 scaling solution, Stablecoin, ICO/STO/IEO, etc. Next, it explains Solidity language in detail, and provides step-by-step instructions for designing, developing, testing, deploying, and monitoring decentralized applications. In addition, you’ll learn how to use Truffle, Remix, Infura, Metamask, and many other Ethereum technologies. It’ll also help you develop your own cryptocurrency by creating ERC20, and ERC721 smart contracts from scratch. Finally, we explain private blockchains, and you learn how to interact with smart contracts through wallets.
Table of Contents (19 chapters)
Free Chapter
1
Section 1: Blockchain and Ethereum Basics
5
Section 2: Blockchain Development Cycle
8
Section 3: Ethereum Implementations
12
Section 4: Production and Deployment
16
Section 5: Conclusion

Understanding mining in Ethereum

In this section, we will explain how mining works in Ethereum, and briefly discuss Ethereum's plan for the PoS consensus mechanism.

The mining process in Ethereum is largely the same as the one we discussed in Bitcoin. For each block of transactions to be added to the Ethereum blockchain and the world state to be updated, consensus must be reached among all network nodes that the new blocks proposed by the miners, including the nonce found with the PoW, must be verified by all nodes.

However, there are quite a few notable differences between Ethereum mining and Bitcoin mining. Most of them are driven by the protocol and architecture difference in the blockchain. As we discussed earlier, Ethereum maintains both the transaction list and the world state on the blockchain. We will discuss those differences in detail here.

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