Ethereum processes over 1,00,000 transactions per day making it the most popular Blockchain.
Here is a complete guide to Ethereum โ
- What is Ethereum?
- Why do many Web3 applications use it?
- How does it work (its architecture)
- How secure it is?
A thread ๐งต
Here is a complete guide to Ethereum โ
- What is Ethereum?
- Why do many Web3 applications use it?
- How does it work (its architecture)
- How secure it is?
A thread ๐งต
Let's start with Ethereum
Ethereum is a decentralized blockchain that runs smart contract applications. Smart contracts are codes that are programmed without any possibility of downtime, censorship, fraud, or third-party interference.
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Ethereum is a decentralized blockchain that runs smart contract applications. Smart contracts are codes that are programmed without any possibility of downtime, censorship, fraud, or third-party interference.
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Many Web3 developers have chosen to build on Ethereum because of its inherent decentralization. This means anyone can use the service and permission is not required.
No one can block nor deny you access of this blockchain.
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No one can block nor deny you access of this blockchain.
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Ethereum has a large and active developer community, which makes it easier for developers to find support and resources when building their applications.
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Solidity, which makes it relatively easy for developers to create smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.
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Ethereum runs on blockchain. A blockchain is a distributed database that maintains a continuously growing list of ordered records called blocks. Each block contains a timestamp and a link to the previous block, making it difficult to modify the data once it has been recorded
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In Ethereum, each block contains not only transaction data, but also information about the state of the network, including the balances of all the accounts on the network. This allows Ethereum to maintain a global, consistent view of the state of the network at all times.
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Overall, the architecture of Ethereum is designed to be decentralized, secure, and flexible, allowing developers to build a wide range of applications on the platform.
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The Ethereum blockchain is considered to be very secure. It uses Proof-of-stake to secure the network, and its smart contract functionality allows for a wide range of applications to be built on top of it.
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However, like any technology, it is not completely invulnerable to security threats, and it's important for users to take steps to protect themselves and their assets.
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