Book Image

Blockchain Developer's Guide

By : Brenn Hill, Samanyu Chopra, Paul Valencourt, Narayan Prusty
Book Image

Blockchain Developer's Guide

By: Brenn Hill, Samanyu Chopra, Paul Valencourt, Narayan Prusty

Overview of this book

Blockchain applications provide a single-shared ledger to eliminate trust issues involving multiple stakeholders. It is the main technical innovation of Bitcoin, where it serves as the public ledger for Bitcoin transactions. Blockchain Developer's Guide takes you through the electrifying world of blockchain technology. It begins with the basic design of a blockchain and elaborates concepts, such as Initial Coin Offerings (ICOs), tokens, smart contracts, and other related terminologies. You will then explore the components of Ethereum, such as Ether tokens, transactions, and smart contracts that you need to build simple DApps. Blockchain Developer's Guide also explains why you must specifically use Solidity for Ethereum-based projects and lets you explore different blockchains with easy-to-follow examples. You will learn a wide range of concepts - beginning with cryptography in cryptocurrencies and including ether security, mining, and smart contracts. You will learn how to use web sockets and various API services for Ethereum. By the end of this Learning Path, you will be able to build efficient decentralized applications. This Learning Path includes content from the following Packt products: • Blockchain Quick Reference by Brenn Hill, Samanyu Chopra, Paul Valencourt • Building Blockchain Projects by Narayan Prusty
Table of Contents (37 chapters)
Title Page
About Packt

Why smart contracts?

The world before smart contracts was one that was fraught with uncertainty. Legal contracts, even simple ones, need not be followed, and the cost of recourse using most legal systems was and is extremely expensive, even in countries where the legal system is not corrupt. In many areas of the world, contracts are barely worth the paper they are written on and are usually enforceable only by parties with substantial political or financial power. For weaker actors in an economic or political system, this is a terrible and unfair set of circumstances.

The issues that we mentioned previously come primarily from the human factor. As long as a person is involved in the enforcement of a contract, they can be corrupt, lazy, misinformed, biased, and so on. A smart contract, in contrast, is written in code and is meant to execute faithfully no matter what parties are involved. This provides the opportunity for safer, cheaper, faster, and far more equitable outcomes.

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