‘ETHEREUM: Guide to the the World of Decentralization’ is the third audiobook installment of Blockchains Blueprint eBooks, providing an in-depth exploration of the world of cryptocurrency and blockchain technology...
TABLE OF CONTENTS
Chapter 1: Getting Started with Ethereum
Chapter 2: Ethereum Technology
Chapter 3: Ethereum Decentralized
Chapter 4: The Ethereum Ecosystem
Chapter 5: Ethereum Development Ecosystem
Chapter 6: Ethereum and the Future
Chapter 7: Ethereum Investing
Chapter 8: Ethereum Real World Use Cases
Chapter 9: The End
CHAPTER 1: Getting Started with Ethereum
At its core, Ethereum is a decentralized platform that facilitates smart contracts and decentralized applications. Vitalik Buterin came up with the idea for Ethereum in late 2013 and it went live on July 30, 2015. Blockchain, the technology that Ethereum is based on, is a distributed ledger system that keeps track of transactions across many computers in a way that is safe, clear, and immutable. On the Ethereum network, each transaction is saved in a block through proof-of-stake consensus.
Ethereum's main innovation is its ability to make and carry out smart contracts. These smart contracts are computer programs where the terms of a deal between parties is written directly into the code. When certain conditions programmed in are met, they automatically carry out specified actions. Nick Szabo came up with this revolutionary idea in the 1990s. There is no need for middlemen because these contracts take action automatically when certain conditions are met. This feature could completely change industries automating complicated tasks and by letting people make transactions without trusting each other.
Transactions and smart contracts in the Ethereum ecosystem need computing power. The unit used to measure these costs is gas, which is written in Ether. Users pay "gas fees" to miners to encourage them to add their transactions to blocks that are then confirmed by network consensus through nodes. The idea of "gas" keeps the network safe and stops people from abusing computer resources.
In traditional systems, like banks, transactions are checked and recorded by a central authority. Ethereum, on the other hand, is run by a network of nodes, so no one person or group controls the whole system. This decentralized nature makes it harder to censor, makes things safer, and creates an environment where people don't have to trust each other to do business.
Vitalik Buterin's dream was to create a decentralized, open-source platform that would let developers make a wide range of apps. Buterin put out the Ethereum whitepaper at the end of 2013. As the Ethereum project grew, it drew in a group of developers, researchers, and fans who were excited about what the platform could do. On July 30, 2015, the official Ethereum network went live. This was a turning point in the history of blockchain technology. It set up a platform where entrepreneurs could launch their initial coin offerings to raise money for new projects and developers could put out decentralized apps. When Ethereum came out, it sparked a lot of creativity and new ideas. A lot of decentralized apps were made to fix problems and increase efficiency in a wide range of areas, from healthcare and entertainment to finance and supply chain management.
