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Ethereum Explained | Understanding Ethereum Blockchain Protocols | Ethereum Course | Edureka

** Ethereum Developer's Certification course: https://www.edureka.co/ethereum-developer-course ** <br>This Edureka's Ethereum video on Ethereum Explained is intended to guide you through Ethereum as a platform and why it's taken the world by a storm. The following topics are discussed in the video: <br><br>1. The need for Ethereum <br>2. What's different in Ethereum <br>3. Ethereum Protocols <br>4. Pillars of Ethereum <br>5. Gas <br>6. Decentralised Applications <br><br>Here is the link to the Blockchain blog series: https://goo.gl/DPoAHR <br>You can also refer this playlist on Blockchain: https://goo.gl/V5iayd

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Ethereum Explained | Understanding Ethereum Blockchain Protocols | Ethereum Course | Edureka

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  1. Hadoop vs Spark

  2. Agenda 1. The need for Ethereum 1. The need for Ethereum 4. Pillars of Ethereum 4. Pillars of Ethereum 2. What’s Different in 2. What’s Different in Ethereum Ethereum 5. 5. Gas Gas – – Computation Credit Computation Credit 3. Ethereum Protocols 3. Ethereum Protocols 6. 6. Demo Demo Dapp Dapp

  3. With the invention of the bitcoin blockchain developers and the general public alike both understood the value of a truly decentralised network Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course

  4. A Blockchain for Everything Inspired by bitcoins approach to decentralisation, developers from all around the world started developing their own unique use case of the blockchain Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course

  5. Lack of Generality However great or useful each blockchain use case was, they lacked a sense of generality. Even if a Blockchain had multiple features, there was no option for more features to be added in a seamless fashion Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course

  6. Generalised Blockchain Platform This is where Ethereum saves the day. Ethereum is built on a set of generalised protocols, much like a smartphone, where developers can add new features just by writing code! Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course

  7. What’s Different? Previous Block Hash Ethereum’s block has accommodation for a lot more information than a general bitcoin block. We can store business logic, state of the network, transaction records and receipts Transaction/State/Receipts Smart Contract Block Hash Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course

  8. So… let’s see the generalised protocols that the Ethereum network was built up on Copyright © 2018, edureka and/or its affiliates. All rights reserved.

  9. Protocol 1: Equal Rights Both accounts have equal rights such that they can • Receive ether • Send ether • Store ether Guest Account Contract Account • Owned by general users i.e. humans • Controlled by private keys which is only known to the account holder • Owned by nobody • Autonomous in nature • Controlled by code that resides on that specified account address Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course

  10. Protocol 2: Freedom of Creation Anyone can create an application with any rules by defining them as a contract on the network Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course

  11. Protocol 3: Freedom of Accessibility Anyone can interact with these smart contracts by sending transactions to their address Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course

  12. Protocol 4: Immutability Everything on the blockchain is immutable. Even updates to contracts are pushed to a new address as an independent separate entity. Prev Block# #oierhtgjnjvnv1 Prev Block# #ajsdgfy093v2 Prev Block# #jdsfbvijsdbiv3 Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course

  13. So… Ethereum can be thought of as a distributed online vending machine! Copyright © 2018, edureka and/or its affiliates. All rights reserved.

  14. But like…. Where’s the processor that’s taking care of all this computation? Copyright © 2018, edureka and/or its affiliates. All rights reserved.

  15. The Pillars of Ethereum Ethereum Virtual Machine The Ethereum virtual machine serves as the heart of the Ethereum architecture and provides compute power Inter-Planetary-File-System IPFS serves as a distributed storage unit for large files being stored on the Ethereum network Mist Wallet/Browser Serves as a wallet for storing ether, the network currency of Ethereum. Also used for deploying smart contracts Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course

  16. So what’s stopping someone from over- clocking the compute systems? Copyright © 2018, edureka and/or its affiliates. All rights reserved.

  17. Gas: Computational Credit To answer this particular problem, Ethereum uses a credit system for compute power. The credits are called Gas and are purchased using Ether. Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course

  18. Gas: Computational Credit So when a piece of code runs out of gas, the state is rolled back and a network failure is avoided. … ETHEREUM BANK while while (true): print (“you have been hacked”) … Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course

  19. Ethereum Applications Ethereum has become a platform thriving with decentralised applications. Here are a few of my favourites Ujo – The Music DApp CryptoMovies – Movie Sharing Dapp

  20. Ethereum Course Outline Blockchain 101 Developing DApps Advanced Solidity Introduction To Ethereum Basic Solidity Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course

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