Ethereum Blockchain explained
4 likes2,784 views
The document explains Bitcoin as a decentralized cryptocurrency introduced in 2009, highlighting its technical foundation such as blockchain technology and mining processes. Additionally, it introduces Ethereum, a blockchain-based platform that supports smart contracts and decentralized applications, discussing potential use cases and advantages of blockchain technology. The document emphasizes the shift from traditional web services to decentralized web solutions, including various components such as oracles and stable coins.
Ethereum Blockchain explained
- 3. Bitcoin 03 Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open- source software in 2009. - Cryptocurrency - Fully distributed - Blockchain - One shared distributed ledger - There is only one - No double spending
- 4. Bitcoin Under the Hood 04 - All full nodes download the whole blockchain - Transactions are emitted to the network - Miners sign blocks for reward - Everybody checks the rules - You cheat, you get forked
- 5. Leader 05 From To Amount Alice Bob 15 Jon Ann 3 Bob Ryan 30 Bob Danny 10
- 6. Blockchain 06 From To Amount 1JCe8z4jJVNXSjohjM4i9Hh813dLCNx2Sy 3Nxwenay9Z8Lc9JBiywExpnEFiLp6Afp8v 15 3Nxwenay9Z8Lc9JBiywExpnEFiLp6Afp8v 2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r 3 2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r 1JCe8z4jJVNXSjohjM4i9Hh813dLCNx2Sy 30 2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r 3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx 10
- 8. Blockchain 08 From To Data 0x52bc44d5378309ee2abf1539bf71de1b7d7be3b5 0x5379718a93F46d9d2E8ac2e355f2087b6C43C010 Value: 15 0xe0Cd84c2FfE0e86C29556DF4efBA65f86E864627 0xfe02a56127affbba940bb116fa30a3af10d12f80 Value: 3 0x27dcf986BC1151B39CeadD53660e4AF56B0D5f84 Code: contract Escrow { function f() { … } } 0x2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r 0x40cA1a9ddc9840D19bB679D85cC0DFe9De985fd5 0x2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r call f();
- 9. ETHEREUM 09 Ethereum is blockchain-based distributed computing platform featuring smart contract functionality. It provides a decentralised virtual machine. - Wallets - Contracts - Money transactions - Method calls
- 10. ETHEREUM 10 Contracts - Execute code - Store information - Turing complete - Deterministic - Ether (cryptocurrency) - Pay for execution with Gas (bought with Ether)
- 11. WHY DO I CARE? 11
- 12. 12 Imagine… - I send some ether to - You send some ether to - Person at random gets all the ether
- 13. 13 Imagine… - I send some ether to - You send some ether to - Depends on the result of the match one of us gets all the “money”
- 14. 14 Imagine… - I bet against you if I will have a fire in two years in my apartment
- 15. 15 How about? - Investment fund - Loans - House rental - Car sharing - What is your idea? - Really anything?
- 18. Web 1.0 17 Service provider Web 2.0 Web 3.0 Server Customers Platform provider Cloud Developers Blockchain (DApps) Service providers Customers Service providers Customers
- 24. DAPPS 23
- 25. Early internet 24 Server Web 2.0 Web 3.0 Client Cloud (Servers) Browsers Blockchain, Distributed storage, Browser/Whisper Blockchain, Distributed storage, Browser/Whisper Blockchain, Distributed storage, Browser/Whisper
- 26. Stable Coins - Blockchain Transaction backbone DApp Ecosystem 25 Ethereum - Storage for Dapps Distributed file system with incentives Swarm - Represent fiat money - e.g. (EUR, USD, PLN, Gold) - Supply Smart Contracts with data from external sources Oracles - Anonymous distributed messaging system Whisper
- 27. - Proof of stake - Stronger decentralisation - Faster transaction times Research 26 Casper - Offline computations - Scalability - Anonymity ZkSnarks - Sharding - Raiden network - Swarm Scalability
- 28. 27
- 29. 28 Marek - CTO @ El Passion - VP of Engineering @ Daftcode Natalia - UX/UI Designer - Top 10 on Polish Dribbble Founders
- 32. Mining 04 Web 1.0 Web 2.0 Web 3.0 3Nxwenay9Z8Lc9JBiywExpnEFiLp6Afp8v 100 3Nxwenay9Z8Lc9JBiywExpnEFiLp6Afp8v 2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r 3 2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r 1JCe8z4jJVNXSjohjM4i9Hh813dLCNx2Sy 30 2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r 3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx 10
- 33. Bitcoin Under the Hood 31 - All full nodes download the whole blockchain - Transactions are emitted to the network - Miners sign blocks for reward - Everybody checks the rules - You cheat, you get forked
- 34. Mining 04 From To Amount 3Nxwenay9Z8Lc9JBiywExpnEFiLp6Afp8v 100 3Nxwenay9Z8Lc9JBiywExpnEFiLp6Afp8v 2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r 3 2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r 1JCe8z4jJVNXSjohjM4i9Hh813dLCNx2Sy 30 2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r 3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx 10