Chapter 9
DeFi Building Blocks
IN THIS CHAPTER
Getting to know blockchain-based distributed ledgers
Explaining consensus mechanisms that secure public blockchains
Understanding how transactions are validated and added to the blockchain
Accessing off-chain information
Before you dive into the practical details and instructions for deploying a smart contract, it’s helpful to gain a high-level understanding of distributed ledger technology and how public, permissionless systems operate in a way that is reliable and safe. My goal in this chapter is to present concepts that broadly pertain across smart-contract platforms, using the specifics of Ethereum to illustrate those concepts.
Absorbing the information in this chapter is not a necessary prerequisite to implementing the step-by-step guides provided in later chapters, but it will help you understand the ecosystem on which you’ll build your DeFi protocols.
That said, if you’re feeling restless for some hands-on action, you can skip ...
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