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

Identity in Ethereum

Accounts on the Ethereum blockchain can be seen as DIDs. This is because any number of accounts can be generated by anyone without requiring any permission and storing them on a centralized server. While they are not a DID and don’t have any VCs associated with it, due to their permissionless nature they can be considered DIDs. As an analogy to DIDs and the SSI ecosystem we discussed earlier, an Ethereum account has a private key and a public key. The public key can be seen as the identity of the controller, whereas the private key is used to sign messages. The Ethereum blockchain can serve as a VDR that can store DIDs. Any VCs issued to the DID can be verified on a chain by validating the issuer’s DID that is stored on the Ethereum blockchain. It can be a smart contract where all DIDs are stored.

DIDs are issued, held, and controlled by individuals. An Ethereum account is an example of a DIDs. You can create as many accounts as you want without...