Exploring the Ethereum Blockchain

Abstract

Blockchain technology binds the idea of distributed ledgers and decentralization of assets into providing secure and fully ensured transparency of the data history. This technology consists of a P2P or peer-to-peer architecture of nodes that keeps a copy of the blockchain thereby enabling them to validate every transaction that is taking place in the network and has influenced developers and enthusiasts alike to adopt a decentralised mechanism. It is a robust architecture and makes hacking impossible. Consensus mechanisms, smart contracts, gas fees, different security protocols, Web3 wallets, oracles are some of the concepts and features that make blockchains immutable and secure. This chapter covers major contemporary concepts and terms profoundly. Ethereum blockchain network is dealt as the basic and foundational example that can be explained comfortably with it. Content and examples are related to solidity programming language so that even a novice can write his or her first smart contract on the Ethereum blockchain.