Book Image

Advanced Blockchain Development

By : Imran Bashir, Narayan Prusty
Book Image

Advanced Blockchain Development

By: Imran Bashir, Narayan Prusty

Overview of this book

Blockchain technology is a distributed ledger with applications in industries such as finance, government, and media. This Learning Path is your guide to building blockchain networks using Ethereum, JavaScript, and Solidity. You will get started by understanding the technical foundations of blockchain technology, including distributed systems, cryptography and how this digital ledger keeps data secure. Further into the chapters, you’ll gain insights into developing applications using Ethereum and Hyperledger. As you build on your knowledge of Ether security, mining, smart contracts, and Solidity, you’ll learn how to create robust and secure applications that run exactly as programmed without being affected by fraud, censorship, or third-party interference. Toward the concluding chapters, you’ll explore how blockchain solutions can be implemented in applications such as IoT apps, in addition to its use in currencies. This Learning Path also highlights how you can increase blockchain scalability, and discusses the future scope of this fascinating and powerful technology. By the end of this Learning Path, you'll be equipped with the skills you need to tackle pain points encountered in the blockchain life cycle and confidently design and deploy decentralized applications.
Table of Contents (25 chapters)
Title Page
Copyright and Credits
About Packt
Contributors
Preface
15
Blockchain - Outside of Currencies
16
Scalability and Other Challenges
Index

Decentralized Organizations


DOs are software programs that run on a blockchain and are based on the idea of actual organizations with people and protocols. Once a DO is added to the blockchain in the form of a smart contract or a set of smart contracts, it becomes decentralized and parties interact with each other based on the code defined within the DO software.

Decentralized Autonomous Organizations

Just like DOs, a Decentralized Autonomous Organization (DAO) is also a computer program that runs atop a blockchain and embedded within it are governance and business logic rules. DAO and DO are fundamentally the same thing. The main difference, however, is that DAOs are autonomous, which means that they are fully automated and contain artificially-intelligent logic. DOs, on the other hand, lack this feature and rely on human input to execute business logic.

The Ethereum blockchain led the way with the initial introduction of DAOs. In a DAO, the code is considered the governing entity rather than...