https://ethereum.org/en/developers/docs/intro-to-ethereum
- public database
- shared across multiple computers in a network
- frequently updated
- “Block” – group of data and state; “chain” – each block connected to previous block through cryptographic chain
- “nodes” – computers in the network; stores EVM state
- “consensus” – each computer must agree upon each new block
- Example: proof of stake used by Ethereum
- Anyone who wants to add new blocks to the chain must take ETH – need to become “validators”
- “validators” randomly selected; block proposed by a chosen validator checked and added by other validators.
Demo: https://andersbrownworth.com/blockchain/blockchain
Key Words
- Ethereum Virtual Machine EVM – a single canonical computer in Ethereum Universe; Everyone on Ethereum network agrees on its state and keeps a copy of the state of this computer.
- Ether (ETH) – native currency of Ethereum; Used as economic incentive for participants to verify and execute transaction requests as well as provide computational resources to the network.
- Smart Contracts – reusable snippets of code uploaded to EVM state; users make requests to execute smart contracts with varying parameters;
- Accouts – ETH stored in accounts; Users can initialize accounts
- Transactions – transaction request, a request for code execution on EVM