Introduction To Ethereum
Explore the core concepts of Ethereum, its approach as a programmable decentralized computer, and how smart contracts are written, uploaded, and executed on the Ethereum Virtual Machine. Understand Ethereum's shift from Proof of Work to Proof of Stake for enhanced scalability and energy efficiency.
We'll cover the following...
Cash-oriented vs. programming-oriented
Bitcoin and Ethereum are two of the most popular and widely-used blockchains today. They each have their own blockchain infrastructures, and though they share some common features, they were created with different purposes in mind. Bitcoin is a cash-oriented system while Ethereum is very focused on executing programs.
Bitcoin was created as a peer-to-peer electronic cash system. Its main purpose is to provide a decentralized way of conducting transactions without the need for a middle man (such as a bank). So, it strongly focuses on cash transactions, spending conditions, and its digital currency bitcoin.
On the other hand, Ethereum’s purpose is not primarily to be a digital currency payment network. It was designed to constitute a general-purpose decentralized computer where programming code can be executed from the network. So, Ethereum has been described as “the world computer” and its native digital currency ETH is seen as a utility currency, necessary to pay for ...