React on the Blockchain - the Missing Getting Started Guide

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Blockchain is arguably a future technology that can be somewhat confusing to get started. Even though there are plenty of resources scattered across the web, but to get started developing distributed apps in React on the blockchain can sound intimidating. In this talk, Vladimir Novick will share how we can get started and what you should know about blockchain architecture. If you always wanted to get into Blockchain development and didn't know where to start, this talk is for you.

Vladimir Novick
Vladimir Novick
32 min
14 May, 2021

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Video Summary and Transcription

Today's talk is a guide to developing on the blockchain using Solidity and React. It covers the basics of blockchain, Ethereum, and smart contracts. Interacting with the blockchain involves submitting transactions and solving cryptographic puzzles. Smart contracts can be written in Solidity and tested using the Remix Web IDE. To connect to the Ethereum blockchain, you can run a local node or use an Ethereum node provider. Setting up the development environment involves installing Node.js, Python, Truffle, and MetaMask. Working with Web3 allows for interacting with contracts. The blockchain provides transparency and decentralized networks for use cases like decentralized finance.

1. Introduction to React on the Blockchain

Short description:

Today's talk is the missing get started guide for developing on the blockchain using Solidity and React. I will cover the basics of blockchain, its network of nodes, distributed storage, and the concept of a public ledger. We will also explore Ethereum, a general purpose blockchain that supports running programs through smart contracts. Make sure to have an account with a public and private key to interact with Ethereum.

Hi there, really excited to be here at React Summit. Today I'm going to talk about React on the blockchain, and I call this talk the missing get started guide because there are a lot of material scattered across the web, so I try to combine everything into one place that gives you some sort of reference if you want to get started developing on the blockchain using Solidity and React.

My name is Vladimir Novik, I'm owner of Vladimir Novik Labs, consultant, social architect, author, entrepreneur. I do consulting in a bunch of fields, so if you have something interesting, reach out to me, or just want to chat, reach out to me on my website or my Twitter. I'm also a leader architect at EventLoop, and at EventLoop we're creating a robust, performant, feature-rich online conference experience, so you can check out our website on eventloop.up or say hi on Twitter.

So let's talk about blockchain. So if I search for a blockchain in Wikipedia, I get this article speaking about a blockchain being a growing list of records called blocks and so on and so forth. So basically it's talking about Merkle trees, cryptography, transactions and blocks, right? So Merkle trees, also called Boehner hash trees and computer science cryptography, transactions and blocks, right? So what is a blockchain? In a sense it's a network, well not in a sense, it's a network of nodes. You have an address which is also called a wallet and you connect to a single node on the network and all these nodes are interconnected.

Blockchain is also some sort of storage, so distributed storage. So you can think of blockchain as a database in a sense because it stores information. So it's made up of transactions and any change is basically an immutable record. Transactions are grouped into bundles called blocks and all blocks group together and is called public ledger. Basically it means that it's a current state of the blockchain in history. Combined of all the transactions. So the state is derived by all the history of the blockchain.

So it's also a computer. Some blockchains support ways to run programs and that's what we'll be doing today. We'll be learning how to use smart contracts. Every node in the blockchain is a computer. So a node can run computation. We'll talk today about Ethereum. Ethereum is a general purpose blockchain that allows you to run your own programs. To use it, you need to have an account. Account has a public key and a private key. You can get your public key out of private key, but you cannot do vice-versa. The name of private key is pretty descriptive. You cannot share it with anyone. Public key is, in a sense, your username. You can treat that as username and password.

2. Interacting with the Blockchain

Short description:

If you have an account and you want to interact with the blockchain, you need to submit a transaction. This transaction needs to be verified by all nodes in the network through solving cryptographic puzzles. Once verified, the transaction is written into the blockchain and copied between all the nodes. This process is known as the consensus mechanism or proof of work. Mining nodes receive a reward for solving the puzzles, and the transaction is considered completed. Transactions on the blockchain are performed using hashes.

If you have an account and you want to interact with the blockchain, basically every node on the blockchain has EVM client, Ethereum virtual machine client. It has local blockchain copy. The state of the blockchain basically. There are multiple nodes, all these EVM clients, and the blockchain is copied between these nodes.

Minor nodes need to verify transactions that come into blockchain. If I want to do something on the blockchain, call a method on smart contract or do some change to the state of the blockchain, I basically need to submit a transaction. Now, when I submit a transaction, it costs me some Ethereum. It's called Gwaii. It's like a decimal place of Ethereum. It's also called gas. We'll talk about that in a bit.

You submit a transaction and all the nodes need to verify the transaction. They need to solve cryptographic puzzles, in a sense. Whenever they verify the transaction, the transaction is written into the blockchain and copied between all the nodes. Transaction validation, it's called the consensus mechanism. It's called also proof of work, this type of mechanism that I described. It's called proof of work. All nodes need to talk to each other, and they need to reach consensus about the transaction. If they don't reach consensus, the transaction is rolled back, basically, re-built.

How mining works? You submit transactions, you pay in GES. It's a small fee. Transaction submitted. Mining nodes try to guess the cryptopuzzles, and nodes that guessed these cryptopuzzles, they receive a reward for the proof of work. And then the transaction is considered completed. Everything is doing with hashes in the blockchain. Let's look at the transaction, for example. I have the test account here, and I can copy my account, which is a hash, and I can go to account two and say, okay, I want to send one Ether, paying some kind of fee, with abstract number, like gas price, let's say 10, and gas limit is $21,000. I will pay 21 Gwei. And then I confirm and I will see the transaction's pending, meaning it hasn't reached consensus. As you can see, it's reached consensus.

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