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Chapter 3 A Practical Authentication Solution for Ethereum Users 3.1 Introduction In the previous chapter we took a closer look at Ethereum, a decentralized, Turing-complete plat- form for developing applications using a blockchain. In Ethereum, applications run on each node in the network. The results of those computations are then encoded in blocks, which, through the proof-of-work system, are validated by each node in the network. Furthermore, these operations (transactions) are carried on out on behalf of users. Users must sign each transaction with their private-key, thus making it possible to track whether a certain user can perform certain operations or not. In particular, transactions have a cost, and users must be able to pay that cost by spending Ethereum’s cryptocoin: Ether. In the previous chapter we also had a look at practical applications of Ethereum. The Decentralized Autonomous Organization (DAO)1, a central bank2, a crowdfunding system3, a proof of existence system4, and even our own simple authentication system5. All of these examples run without a central authority holding any control over them. All operations are carried out by each node on the network, and these are only effective after all nodes agree on the results. This makes Ethereum particularly powerful for applications were no single entity must be able to validate or approve operations. Our simple login system on Ethereum did work as expected, but it was less than ideal. Let’s take a look at how it worked: Watch video: “Login”6 1 https://www.ethereum.org/dao 2 https://www.ethereum.org/token 3 https://www.ethereum.org/crowdsale 4 https://chainy.info 5 https://auth0.com/blog/an- introduction- to- ethereum- and- smart- contracts- part- 2/ 6 https://cdn.auth0.com/blog/ethereum2/login.mp4 51PDF Image | Intro to Ethereum and Smart Contracts
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