Book Image

Mastering Blockchain - Fourth Edition

By : Imran Bashir
5 (3)
Book Image

Mastering Blockchain - Fourth Edition

5 (3)
By: Imran Bashir

Overview of this book

Blockchain is the backbone of cryptocurrencies, it has had a massive impact in many sectors, including finance, supply chains, healthcare, government, and media. It’s also being used for cutting edge technologies such as AI and IoT. This new edition is thoroughly revised to offer a practical approach to using Ethereum, Hyperledger, Fabric, and Corda with step-by-step tutorials and real-world use-cases to help you understand everything you need to know about blockchain development and implementation. With new chapters on Decentralized Finance and solving privacy, identity, and security issues, as well as bonus online content exploring alternative blockchains, this is an unmissable read for everyone who wants to gain a deep understanding of blockchain. The book doesn’t shy away from advanced topics and practical expertise, such as decentralized application (DApp) development using smart contracts and oracles, and emerging trends in the blockchain space. Throughout the book, you’ll explore blockchain solutions beyond cryptocurrencies, such as the IoT with blockchain, enterprise blockchains, and tokenization, and gain insight into the future scope of this fascinating and disruptive technology. By the end of this blockchain book, you will have gained a thorough comprehension of the various facets of blockchain and understand the potential of this technology in diverse real-world scenarios.
Table of Contents (24 chapters)
23
Index

Ethereum payments

In this section, we will see how Ethereum works from a user’s point of view. For this purpose, we will present the most common use case of transferring funds—in our use case, from one user (Bashir) to another (Irshad). We will use two Ethereum clients, one for sending funds and the other for receiving. There are several steps involved in this process, as follows:

  1. First, either a user requests money by sending the request to the sender, or the sender decides to send money to the receiver. We can use any Ethereum wallet software. The request can be sent by sending the receiver’s Ethereum address to the sender.

    For example, there are two users, Bashir and Irshad. If Irshad requests money from Bashir, then she can send a request to Bashir by using a QR code. Once Bashir receives this request, he will either scan the QR code or manually type in Irshad’s Ethereum address and send the Ether to Irshad’s address. This request...