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

Nodes and miners

The Ethereum network contains different nodes. Some nodes act only as wallets, some are light clients, and a few are full clients running the full blockchain. One of the most important types of nodes is mining nodes. We will see what constitutes mining in this section.

Transactions can be found in either transaction pools or blocks. In transaction pools, they wait for verification by a node, and in blocks, they are added after successful verification. When a mining node starts its operation of verifying blocks, it starts with the highest-paying transactions in the transaction pool and executes them one by one. When the gas limit is reached, or no more transactions are left to be processed in the transaction pool, the mining starts. As a result of the mining operation, currency (ether) is awarded to the nodes that perform mining operations as an incentive for them to validate and verify blocks made up of transactions. The mining process helps secure the network...