Designing and Building Decentralized Blockchain Apps
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Blockchain is an emerging technology for organizations to almost instantaneously make and verify transactions, streamlining business processes, saving money, and reducing the potential for fraud. This workshop introduces Blockchain as a Service (BaaS) in Microsoft Azure to build a secured data structure and create a digital transaction ledger that is shared between customers (citizens) and businesses (public entities, government institutions, organizations). By combining the openness of the internet with the security of cryptography, the BaaS solution provides everyone with a faster, safer way to perform peer-to-peer financial transactions. Topics covered in this workshop are: • Introduction to developing decentralized apps (dapps) for Blockchain • Azure BaaS – Blockchain as a Service in Microsoft Azure • Enterprise Smart Contracts and the Coco Framework • Developing applications on Ethereum • Practical samples of Blockchain dapps: Design, Development, Testing and Deploy
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Designing and Building Decentralized Blockchain Apps
- 1. Designing and Building Decentralized Blockchain Apps Stefano Tempesta
- 2. cloud.developerdays.pl@DeveloperDaysPL AGENDA Blockchain Enterprise Blockchain (aka Blockchain 3.0) Azure BaaS Development in Ethereum Smart Contracts Azure Blockchain Workbench
- 11. cloud.developerdays.pl@DeveloperDaysPL Types of Blockchain Consortium Organization A Organization B Partner 1 Partner 2 Partner 3 Regulator N Organization A Location 1 Location 2 Location 3 Location 4 Division A Division B ConsortiumPrivate Public blockchain Org. A Org. B Person A B Person B Bank 1 Bank 2 Consorti um A Approved participants Users with known identities Permission is required to write, read and participate in confirming transactions Multiple algorithms for consensus Many, unknown participants Anonymous or pseudonymous Open read and write by all participants Consensus by Proof of Work Public Blockchain Enterprise Blockchain
- 12. cloud.developerdays.pl@DeveloperDaysPL Blockchain Challenges Scalability / Performance Mining Cross-chain interoperability Storage constraints Lack of governance and standards Inadequate tooling Quantum computing threat GDPR Paradox From CRUD to CRAB
- 13. Blockchain as a Service
- 14. Single node ledgers Multi node ledgers Tools
- 16. cloud.developerdays.pl@DeveloperDaysPL Azure Confidential Computing Data encryption “in use” Trusted Execution Environment (Enclave) Coco Framework (github.com/Azure/coco-framework)
- 18. cloud.developerdays.pl@DeveloperDaysPL Azure Blockchain Workbench Managed blockchain network in Azure Leverage Azure AD and Key Vault Quick Smart Contract deployment On- and off-chain data access
- 19. cloud.developerdays.pl@DeveloperDaysPL Deploy Azure Blockchain Workbench 1 Event Grid Topic 1 Service Bus Namespace 1 Application Insights 1 SQL Database (Standard S0) 2 App Services (Standard) 2 Azure Key Vaults 2 Azure Storage accounts (Standard LRS) 2 Virtual machine scale sets (for validator and worker nodes) 2 Virtual Networks (including load balancer, network security group, and public IP address for each virtual network) Optional: Azure Monitor
Editor's Notes
- A public blockchain (Bitcoin or Ethereum) is an internet protocol that manages the distribution of probably unique data that: Acts as a unit of account for transactions on that ledger Incentives early adopters and developers to use, support and verify the ledger without the need for a trusted intermediary However, there is a problem: proof of work is highly wasteful. 6.000 trillion SHA256 computations are being performed by the Bitcoin network every second, and ultimately these computations have no practical or scientific value; their only purpose is to solve proof of work problems that are deliberately made to be hard so that malicious attackers cannot easily pretend to be millions of nodes and overpower the network. An Enterprise Blockchain (Ripple, Enterprise Ethereum, Hyperledger) is a distributed ledger that provides: Consensus via trusted intermediaries, making digital currencies unnecessary Solutions to clients who wish to use cryptographic databases managed and shared by trusted parties The Proof of Stake is the Main alternative to Proof of Work (PoW) to provide consensus. With Proof of Work, the probability of mining a block depends on the work done by the miner (e.g. CPU/GPU cycles spent checking hashes). With Proof of Stake, the resource that's compared is the amount of Bitcoin a miner holds - someone holding 1% of the Bitcoin can mine 1% of the "Proof of Stake blocks". A proof-of-stake system might provide increased protection from a malicious attack on the network. Additional protection comes from two sources: Executing an attack would be much more expensive. Reduced incentives for attack. The attacker would need to own a near majority of all bitcoin. Therefore, the attacker suffer severely from his own attack. When block rewards are produced through txn fees, a proof of stake system would result in lower equilibrium txn fees. Lower long-run fees would increase the competitiveness of bitcoin relative to alternative payments systems. Intuitively reduced fees are due to vast reductions in the scale of wastage of resources.