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Ethereum Smart Contract Development

Ethereum Smart Contract Development

By : Mayukh Mukhopadhyay
2 (3)
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Ethereum Smart Contract Development

Ethereum Smart Contract Development

2 (3)
By: Mayukh Mukhopadhyay

Overview of this book

Ethereum is a public, blockchain-based distributed computing platform featuring smart contract functionality. This book is your one-stop guide to blockchain and Ethereum smart contract development. We start by introducing you to the basics of blockchain. You'll learn about hash functions, Merkle trees, forking, mining, and much more. Then you'll learn about Ethereum and smart contracts, and we'll cover Ethereum virtual machine (EVM) in detail. Next, you'll get acquainted with DApps and DAOs and see how they work. We'll also delve into the mechanisms of advanced smart contracts, taking a practical approach. You'll also learn how to develop your own cryptocurrency from scratch in order to understand the business behind ICO. Further on, you'll get to know the key concepts of the Solidity programming language, enabling you to build decentralized blockchain-based applications. We'll also look at enterprise use cases, where you'll build a decentralized microblogging site. At the end of this book, we discuss blockchain-as-a-service, the dark web marketplace, and various advanced topics so you can get well versed with the blockchain principles and ecosystem.
Table of Contents (13 chapters)
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Consortium blockchains


As we discussed in the previous chapter, consortium blockchains lie in between private and public blockchains, and also in the middle of the permission spectrum. In this section, we will do a case study using consortium blockchains adopted by banks.

Banks need blockchains to make money transfers faster, easier, and cheaper. The following are the limitations of a public blockchain if used for this purpose:

  • Speed: Banks need to do transactions in real time, while Ethereum takes around 12 sec to confirm one transaction.
  • Permission: Anyone can take part in the consensus for a public blockchain. But banks prefer to remain an authority or hire a regulatory body.
  • Security: Due to the limited number of participants, proof-of-work is not secure enough.
  • Privacy: Basically divided into identity privacy and data privacy, it is quite hard to maintain such privacy on a public Ethereum blockchain.

Consortium blockchains generally employ proof of authority, where there is no need for mining...

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