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Underlying Implementation of Blockchain Smart Contracts (ETHEREUM)

Posted on:February 20, 2020 at 08:11 AM

Ethereum is used as a shared public ledger. Once a smart contract is deployed and pushed directly into the Ethereum environment, a hash value is assigned to the smart contract as an address that contains the smart contract application binary interface. The application binary interface is required to bridge between the user-end/front-end and back-end. Architecture for running decentralized applications (dApp) on the Ethereum platform is below.

The smart contract’s functions become reachable by default. Given or declared permission to a function to view details or run process is under consideration in live records, it is fundamental to design each process in plausible hypotheses.

The design needs to be discussed and analyzed at the early design point begins with an acknowledgment of needs and starts an action of solving the problem that will influence each other. The smart contract binary interface can be consumed by JavaScript front-end using frameworks such as HTML, CSS, JavaScript, and React that run on NodeJS, python (Django or Flask), Golang and so on. Any transaction can be written and read using Web3 libraries. Web3 library is connected to the endpoint and allows interaction with the Ethereum network using an HTTP or Inter-Process Communication (IPC) connection.

An endpoint device is required to interact with test-net or main-net nodes and can be installed and set up on cloud service or locally. Ganache or a Truffle development connects to a local blockchain. Truffle, Embark, or Populus allows the development and deployment of the (dApps). Infura provides a URL endpoint and is needed to interact with (dApps) that remotely connect to the public testnet or mainnet Ethereum nodes and also file storage, such as InterPlanetary File System (IPFS). (IPFS) is a protocol to store and share any data in a distributed file system and can be used in smart contract by mapping type which is a key to value storage. Then this data can be stored in (IPFS).

Metamask is a browser plugin that works as an account and is used to interact with any (dApp) or smart contract in the Ethereum development environment.

To securely provide off-chain data, there is a gateway mechanism known as an oracle, which can offer a secure connection and fetch data using web (APIs). The oracle service provides the infrastructure that is built in the smart contract. Chainlink is used oracle network for running connected smart contracts and bringing off-chain data sources to on-chain. Solidity and Vyper are high-level languages, specifically designed to encode smart contracts.

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Architecture for running decentralized applications on the Ethereum platform.