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

Network forks

Another issue for public blockchains is the existence of network forks. Bitcoin has been forked twice, splitting into Bitcoin and Bitcoin cash, then again into Bitcoin Gold. There are now three independent networks claiming the Bitcoin mantle. While the original network is still by far the most dominant, all the forks were a result of a breakdown in agreement among the key network participants about the future of the technology.

Ethereum suffered a similar fate, splitting into Ethereum, and Ethereum Classic over how to respond to the DAO hack. The majority felt that the DAO should have the hacked funds restored, but a strong minority disagreed, asking why should this hack get special treatment over others?. The result was two networks, one with the hacked funds restored (Ethereum) and one where the network protocol was the rule no matter what (Ethereum Classic).