Raval - Decentralized Applications
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Take advantage of Bitcoins underlying technology, the blockchain, to build massively scalable, decentralized applications known as dapps. In this practical guide, author Siraj Raval explains why dapps will become more widely usedand profitablethan todays most popular web apps. Youll learn how the blockchains cryptographically stored ledger, scarce-asset model, and peer-to-peer (P2P) technology provide a more flexible, better-incentivized structure than current software models.
Once you understand the theory behind dapps and what a thriving dapp ecosystem looks like, Raval shows you how to use existing tools to create a working dapp. Youll then take a deep dive into the OpenBazaar decentralized market, and examine two case studies of successful dapps currently in use.
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by Siraj Raval
Copyright 2016 Siraj Raval. All rights reserved.
Printed in the United States of America.
Published by OReilly Media, Inc. , 1005 Gravenstein Highway North, Sebastopol, CA 95472.
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- August 2016: First Edition
- 2016-07-13: First Release
See http://oreilly.com/catalog/errata.csp?isbn=9781491924549 for release details.
The OReilly logo is a registered trademark of OReilly Media, Inc. Decentralized Applications, the cover image of a silver roughy, and related trade dress are trademarks of OReilly Media, Inc.
While the publisher and the author have used good faith efforts to ensure that the information and instructions contained in this work are accurate, the publisher and the author disclaim all responsibility for errors or omissions, including without limitation responsibility for damages resulting from the use of or reliance on this work. Use of the information and instructions contained in this work is at your own risk. If any code samples or other technology this work contains or describes is subject to open source licenses or the intellectual property rights of others, it is your responsibility to ensure that your use thereof complies with such licenses and/or rights.
978-1-491-92454-9
[LSI]
Thank you, Jade. Your truth set me free.
The following typographical conventions are used in this book:
ItalicIndicates new terms, URLs, email addresses, filenames, and file extensions.
Constant widthUsed for program listings, as well as within paragraphs to refer to program elements such as variable or function names, databases, data types, environment variables, statements, and keywords.
Constant width boldShows commands or other text that should be typed literally by the user.
Constant width italicShows text that should be replaced with user-supplied values or by values determined by context.
Supplemental material (code examples, exercises, etc.) is available for download at https://github.com/oreillymedia/decentralized_applications.
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A new model for building massively scalable and profitable applications is emerging. Bitcoin paved the way with its cryptographically stored ledger, scarce-asset model, and peer-to-peer technology. These features provide a starting point for building a new type of software called decentralized applications, or dapps. Dapps are just now gaining media coverage but will, I believe, someday become more widely used than the worlds most popular web apps. They are more flexible, transparent, distributed, resilient, and have a better incentivized structure than current software models. This is the first book that will help you to understand them and create your own.
Before we get into the details of dapps, lets talk a little about Bitcoin and the Web. Weve seen the Web grow considerably, by orders of magnitude, over the past decade. Billions of people are coming online as Internet-connected device distribution expands globally. At first glance, the standards of communication set in the Internet Protocol Suite seem to be working well enough: the Link Layer puts some data on a wire; the Internet Layer routes the data; the Transport Layer persists the data; and the Application Layer delivers abstractions of the data in the form of applications. All four protocols work together seamlessly for exchanging data, but not value. Bitcoin acts as a fifth protocol layer for value transfer that lives up to the standards of the other four.
We do have an existing way of sending payments on the Web. The problem is that they all involve inefficient legacy systems like Automated Clearing House (ACH) that were designed before the Internet. These traditional payment systems are painfully slow because they require a centralized clearing house. Machines shouldnt have to wait days for a payment to clear; they are constantly communicating with one another. They should be able to send billions of micropayments to each other to meter resources like electricity and storage space and not have to worry about the hefty transaction fees of a middleman. Bitcoin helps solve this problem.
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