What is Ethereum? Mastering Ethereum for smart contract security
What is Ethereum Everything you need to know?
- Ethereum : open source, globally decentralized computing infrastructure, executes programs called smart contract
- Ether Coin purpose: not to be a digital currency payment network, utility currency to pay for use of the Ethereum platform as the world computer.
- Blockchain Characteristics : open , public, global, decentralized, neutral, censorship-resistant
- The Birth of Ethereum: Vitalik started in late 2013 and published yellow paper later Dr. Gavin joined and together launched the Ethereum in July 30,2015 ; the Frontier Block #0
- Ethereum Components:
- P2P network: run on ETH mainnet, addressable on TCP 30303, runs protocol DEVp2p
- consensus rules: general agreement has been reached
- transactions: network messages includes; sender, recipient, value and data payload
- state machine: processed by EVM, executes bytecode, EVM programs called smart contracts, written in solidity and compiled to bytecode for execution on EVM
- Data structures: ETH state stored locally on each node as database, contains the transactions & system state, serialized hashed data aka merkle patricia Tree
- Consensus algorithm: started with Nakamoto consensus moving to PoS codename Casper
- Economic security: currently PoW algorithm called Ethash, will drop and move to PoS
- Clients : Go-Ethereum (Geth) and Parity
- Turing Complete: Eth execute stored program in EVM, read and write data to memory UTM, can compute any algorithm with finite memory
- The gas : Turing completeness Halting Problem solution, EVM executes smart contract with a predetermined cost in units of gas, gas consumed by computation exceeds gas available in transaction EVM terminates execution prevents “infinite loops”- DoS attack
- gas only be bought with ether, ether sent along a transaction, purchase gas with acceptable gas price which is not fixed, computation is executed, unused gas is refunded back to sender of transaction
- DApp: smart contract + web user interface
- web3 : born by DApps, swarm P2P storage , whisper P2P messaging service
“Mastering Ethereum by Andreas M. Antonopoulos and Dr. Gavin Wood (O’Reilly). Copyright 2019 The Ethereum Book LLC and Gavin Wood, 978–1–491–97194–9.”
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