Introduction to Blockchain Development
0 likes163 views
The document provides an overview of blockchain technology, detailing its history, consensus mechanisms, and platforms like Ethereum. Lightstreams, a start-up founded in 2017, focuses on a permissioned blockchain protocol to help content creators monetize their intellectual property. It discusses various elements of blockchain, including transactions, dApps, development stacks, and the upcoming Lightstreams dApp challenge.
Introduction to Blockchain Development
- 1. Blockchain Introduction By Lightstreams ETSIIT (UGR) , 13 March, Gabriel Garrido, Lukas Lukac Follow us on Twitter @lightstreams_io
- 2. Index 1. History (Español) - 10m 2. What is Blockchain (English) - 20m 3. Consensus (English) - 10m 4. Ethereum (English) - 20m 5. DApps (Español) - 20m 6. Lightstreams Tech Stack (Español) - 20m 7. Q/A (English/Español) - 15m
- 3. About us Lightstreams is a small start-up of the blockchain industry. ● Started at 2017 ● Won the “Consensys NYC Hackathon” by a demonstration of the permissioned blockchain protocol ● 6 people working in two locations: Palma (Spain) - Düsseldorf (Germany) ● Permissioned blockchain protocol to empower content creators to monetise their intellectual property data
- 4. History
- 5. Cryptocurrencies (tokens) Utility Token - Only good for spending at the issuer’s “store” (cassino tokens) Currency Token - Are meant to be spent on the daily transactions of life (coins) Security Token - Acts as a holder of value, sort of like a digital stock (company stocks)
- 6. What is Blockchain? Blockchain is a public DATABASE with hell of a good backup. - replicates (optimally) with each new user (hence p2p) - mathematically, cryptographically ensures the rows can't be edited or removed once inserted “append only log of events”
- 7. Blockchain is made of blocks Block = Header (info) + Payload (an array of transactions, TXs) Chain: Block 1 + Block 2 + … Block N.
- 8. What is a Transaction? Change of state. Example of a payment TX:
- 9. Transaction is like an Event NEW_USER, NEW_STATUS, NEW_PURCHASE, NEW_TRANSFER, NEW_LIKE, NEW_UNLIKE
- 10. Immutability blockchain := event-sourcing - deletes PERFECT AUDIT.
- 12. Immutability Visualised Image Source: dummyprogramming.com
- 13. How blocks are exchanged between peers? Node := One blockchain instance, a device with a unique identity (peer with its own Private Key) Consensus := An algorithm deciding what transactions, blocks are valid and what peers are trustworthy
- 14. Proof of Work Consensus sha256(Block{TXs...}) => 000000dfs5d4f56sd4f56s4fd56 Consensus Rule: IF block hash starts with 6 zero then is VALID and the block is added to the chain.
- 15. Proof Of Work - PROs Pros: - Anyone can become a miner but that's also not really true due to hardware requirements
- 16. Proof Of Work - CONs - Majority of Mining done from China
- 17. Proof Of Work - CONs - Majority of Mining done from China - The transaction speed is between 10 mins to 1 hour
- 18. Proof Of Work - CONs - Majority of Mining done from China - The transaction speed is between 10 mins to 1 hour - Very hard to scale as the core design is based on mathematical difficulty
- 19. Proof Of Work - CONs - Majority of Mining done from China - The transaction speed is between 10 mins to 1 hour - Very hard to scale as the core design is based on mathematical difficulty - Waste of resources
- 20. Who uses Proof of Work? Most famous blockchains: - Bitcoin - Ethereum
- 21. Who uses Proof of Work and suffers scalability issues? Most famous blockchains: - Bitcoin - Ethereum
- 22. Ethereum Ethereum is a decentralized platform, blockchain that runs smart contracts (programs)
- 23. Smart Contracts Deterministic programs deployed in EVM. - code functions, typical programs but written in special language, Solidity - can interact with other contracts - make decisions - store data - transfer funds (send Ether) CAN NOT COMMUNICATE WITH PROGRAMS OUTSIDE BLOCKCHAIN WORLD.
- 24. Wallets Software for managing your account, its private key and therefore your virtual funds, Ether/Bitcoin/XRP.
- 25. Solidity Solidity is a high-level language for implementing smart contracts. It was influenced by C++, Python and JavaScript and is designed to target the Ethereum Virtual Machine (EVM). - Statically typed - Supports inheritance - Importing libraries - User defined types (classes)
- 26. Remix Writing smart contracts in cloud
- 30. Decentralized Applications (Dapps) ● Centralized application ● Server-based ● Netflix ● Decentralized application ● Peer to Peer ● Popcorn (Bit-torrent)
- 31. DApps in Blockchain Type 1 Blockchain Type 2 Protocol Type 3 Application DApps need to be built around logics which involves token exchanges and those tokens need to bind to a real value. The application must be completely open-source and it must operate autonomously with no single entity controlling.
- 32. Quick DApp Example Goal: A company wants to adapt an open-source project to its own company requirements. Description: Company forked original repository and created the list of task to be develop. Requirements: Limited funds to accomplish this development. It wants to encourage open-source community to work on this project.
- 34. DApps, everything is good? PROs Transparency Code is open-sourced Reliability Every node is a backup. No require central entity Security Every transaction is signed and immutable CONs Speed Tx finality ~6 minutes. 15 TPS Expensive ~0.02 USD/tx, ~3.15 USD/Smart Contract Complexity Limited data storage, upgrades are hard, mistakes are expensive
- 36. Lightstreams Tech Stack Lightchain: Lightstreams implementation of a proof-of-authority (PoA) blockchain. It is an ethereum-compatible blockchain which uses Byzantine consensus to replace the original proof-of-work (PoW) from Ethereum. Leth: Ethereum Smart Vault. Leth is permissioned blockchain protocol to empower content creators to monetise their intellectual property data. It can be used a CLI or HTTP server.
- 37. SHOWCASE Video Presenting lightstreams tech stack in a showcase video https://vimeo.com/322754506 Useful links ● Lightchain ● Block Explorer (sirius) ● Leth documentation ● Leth HTTP API ● Javascript Leth SDK
- 38. Lightstreams DApp Challenge Description Developer a DApp using Lightstreams tech stack Prize 500-1000 USD (in PHT) Conditions ● Register your project request at discuss.lightstreams.network ● Deliver a running version of the project ● Documentation ● Open-source project
- 39. Q/A ¡ Gracias por su atención ! More questions? Email us [email protected] [email protected] Give us some feedback !!! https://workshop.lightstreams.io