Ethereum
- Ethereum builds on Bitcoin’s innovation, with some big improvements.
- Ethereum allows you to send value(Ether) which is equivalent to Bitcoin and to run Smart Contract which are Decentralized Application(Dapps).
- Ethereum Blockchain is an Immutable Public Database that stores a record of every transaction that has ever taken place.
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Ethereum is turing-complete.
*Turing-Complete* : Able to solve any computational problem, no matter how complex)
Key Points
- Ethereum is Decentralized.
- Ethereum is Immutable.
- Ethereum is More Private.
- Ethereum is Censorship-free.
- Ethereum will not have third-party interference.
Ethereum Nodes
- Ethereum is a peer-to-peer network of computers named “Ethereum Nodes”
- Any one can run a Ethereum Node on their system with all required resources a.k.a GETH (go-ethereum) is a Go implementation of Ethereum - a gateway into the decentralized web.
- An Ethereum node runs a VM named EVM and runs application(EVM bytecode) based on a global consensus mechanism.
- This EVM has its own microkernal, stack, memory and storage.
- There are many different Ethereum Networks: Main Net, Test Nets(Rinkeby, Kovan), Private Ethereum Blockchains.
Video : Basics
Question / Answer
Vitaly Dmitrievich Buterin, better known as Vitalik Buterin, is a Russian-Canadian computer programmer, and co-founder of Ethereum. Buterin became involved with cryptocurrency early in its inception, co-founding Bitcoin Magazine in 2011.
Bibliography/References
- None