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Ethereum Intro
The document provides an introduction to Ethereum, covering blockchain basics, cryptography, distributed systems, and the functioning of Ethereum's smart contracts and transactions. It details the components of the Ethereum platform including accounts, Ether currency, and consensus algorithms, while also emphasizing key properties like the Ethereum Virtual Machine and transaction characteristics. It highlights Ethereum's applicability for various projects and includes important acronyms and further reading materials.
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Ethereum Intro
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- 2. Agenda ● Blockchain basics ●Cryptography ● Distributed systems ● Ethereum ● Accounts ● Transactions ● Blocks ● Smart Contracts ● Ethereum Virtual Machine ● Demonstration
- 3. ● Linked listof blocks ● Blocks chained over hash values of previous blocks ● Distributed/decentralized ● Immutable ● Secure ● Zero downtime Blockchain
- 4. Cryptography ● Asymmetric cryptography ●Public and private keys ● Address derived from public key ● Hash functions – for block linking Base technologies
- 5. Base technologies Distributed systems ●Consensus algorithms ● Gossip protocols ● BFT - Byzantine fault tolerance ● CAP: ●Consistency ●Availability ●Fault tolerance ● FLP Impossibility ● POW – Proof Of Work ● Double spending problem
- 6. ● Open-source blockchainbased platform ● Creator - Vitalik Buterin ● Initial release – July 2015 ● License - GPLv3 ● Cryptocurrency – Ether (ETH) ● Smart contracts - scripts executed using an international network of public nodes Ethereum
- 7. Ethereum ● Suitable forprojects and applications whose capacity is not large enough for building single purpose blockchain ● Enterprise Ethereum Alliance ● Important acronyms: ○ EIP - Ethereum Improvement Proposal ○ ERC - Ethereum Request for Comments ○ EVM – Ethereum Virtual Machine ○ ENS - Ethereum Name Service
- 8. ● Cryptocurrency ontop of Ethereum Platform ● Symbol - ETH ● Used for paying Gas to miners ● Ensures developers are writing efficient smart contract code ● 60 million ETH sold on presale ● 12 million ETH – development fund (Ethereum Foundation) Ether currency
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- 10. ● Identified byaddresses ● Address is hash value of public key - simplified ● 20 bytes => 160 bits => 40 hex characters ● Externally owned accounts – controlled by private keys ● Contract accounts – controlled by code ● Important properties: ○ Nonce ○ Balance ○ Contract code ○ Storage Account
- 11. ● Transaction representsmessage signed by externally owned account that is sent to ● Important properties ○ Recipient ○ Value ○ Signature ○ Data (5 gas per byte) ○ Gas Price & Limit Transactions
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- 13. ● 14 secondsbetween blocks ● 3 ETH block reward for miner ● Hard & soft forks ● Important properties: ○ Parent Hash ○ Timestamp ○ Beneficiary ○ Difficulty ○ Number ○ Gas Used & Gas Limit Blocks
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- 15. ● Blockchain basedscript that facilitates functionality of a standard contract ● Usually emphasizes financial aspects ● Deployed contract can’t be changed ● EVM – similar to JVM ● Solidity and Viper compiled to bytecode ● OOP manner ● Gas Limit – for both storage and compute Smart contracts
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- 19. ● Blockgeeks –What is Ethereum? ● ConsenSys - Ethereum: Bitcoin Plus Everything ● Vitalik Buterin - Devcon2: Ethereum in 25 Minutes (YouTube) ● Preethi Kasireddy - How does Ethereum work, anyway? ● Henning Diedrich - Ethereum: Blockchains, Digital Assets, Smart Contracts, Decentralized Autonomous Organizations ● George Icahn - Ethereum: The Complete Guide To Understanding Ethereum Further reading White paper Yellow paper Reading list
- 20. That’s all folks!!! Acknowledgements: Mirko Ilić Dragan Trivić Dušan Đukić Danijela Cvišić Aleksandar Vukotić