GravityCoin

by Jesus Larrubia

Basic concepts 

What is blockchain?

  • Blockchain is basically a type of database
  • A block represents a group of (signed) transactions.
  • A transaction represents an atomic operation

Where can we find this DB?

The blockchain network

  • Consists of a public p2p network
  • Each component is called a "node"
  • The blockchain (DB) is replicated in each node
  • https://ropsten.etherscan.io/

Then, what are the miners?

  • They are just nodes.
  • Responsible for verifying and signing transactions.
  • They are compensated with a reward for "donating" resources.

Ethereum vs bitcoin network

  • Bitcoin: transactions are only payments
  • Ethereum: transactions can be anything
  • In Ethereum a transaction can be a program: Smart contracts (Solidity)

Cryptotoken

  • It's a Smart contract
  • Follows the standard ERC20
  • Represents a token or coin: total issued, owning and transfering. 
  • Issued by ICOs for crowdfunding 

GravityCoin

By Jesus Larrubia

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GravityCoin

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