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

Chapter 9. Building a Wallet Service

A wallet service is used to send and receive funds. Major challenges for building a wallet service are security and trust. Users must feel that their funds are secure and the administrator of the wallet service doesn't steal their funds. The wallet service we will build in this chapter will tackle both these issues.

In this chapter, we'll cover the following topics:

  • Difference between online and offline wallets
  • Using hooked-web3-provider and ethereumjs-tx to make it easier to create and sign transactions using accounts not managed by an Ethereum node
  • Understanding what a HD wallet is and also its uses
  • Creating an HD wallet and a transaction signer using lightwallet.js
  • Building a wallet service