Blockchain & Ethereum
Open & Decentralized
Bitcoin was the first practical implementation [of the Blockchain Technology] and is currently* the most prominent triple entry bookkeeping system in existence.
Shared single source of truth
Incorruptible distributed digital edger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value
- Don & Alex Tapscott, authors Blockchain Revolution (2016)
The Slowest (and most Fascinating) Database in the World • Stefan Tilkov
- Distributed public blockchain network
Use-case: track ownership of digital currency
- bitcoin / ether
- Ethereum blockchain focuses on running arbitrary code of any decentralized application
- smart contracts!
Is Ethereum similar to Bitcoin? ...
Self-executing computer code which runs on the blockchain when specific conditions are met to facilitate exchange of money, content, property, shares, or anything of value
Because smart contracts run on the blockchain, they run exactly as programmed without any possibility of censorship, downtime, fraud or third party interference
Ethereum Virtual Machine
Ethereum’s core innovation, EVM is a Turing complete machine on top of the blockchain
By Benjamin Orozco (benoror)