In my previous article we took a look at the different applications of blockchains and delved into the world of smart contracts. In this article we are going to explore a crypto currency built specifically around smart contracts, meet Ethereum.
Ethereum is a decentralised platform designed to run smart contracts originally proposed by Vitalik Buterin. The early development team grew rapidly with initial founders including Mihai Alisie, Anthony Di Iorio, Charles Hoskinson, Amir Chetrit, Dr Gavin Wood, Jeffrey Wilcke and Joseph Lubin.
Let’s take a few steps back to where it all began…
I frequently get asked a specific question from people that are learning about blockchains. Often they are struggling to grasp exactly what they are capable of and why they are thought to be so revolutionary.
In this article, we are going to take a look at a number of examples of how blockchain technology can revolutionise existing industries or even create entirely new ones.
We’ve already explored what a bitcoin address is and how they are protected by cryptography. Now we will learn what bitcoin wallets are, which options are available and how you go about using one. Yes, this is the post that gets you on board the digital currency train.
A wallet is simply a collection of bitcoin private keys which enables you to use multiple bitcoin addresses with ease
In the last post, we uncovered exactly what a Bitcoin address is and how one can be secured using modern cryptography.
In this post we are going to delve into the database underpinning bitcoin and learn how it is structured. That database is known as a blockchain:
A blockchain is simply a distributed database
For many years, it was thought that fully decentralised digital currencies were impossible. The reason being the problem of double spending. How do you ensure that a digital coin has not been copied electronically and therefore spent repeatedly without the use of a central authority for verification?
Welcome back reader.
So you’ve read about the crazy new world of crypto currency and want to understand where it all began?
The tale of Bitcoin is long and winding, it all begins with an underground online community which emerged in the early nineties on a usenet mailing list.
Hello reader… yes, you. Come closer and I’ll tell you the story of one of the most captivating inventions of the 21st century… crypto currency.
In the simplest terms, crypto currency can be thought of as digital money. That is, money which is generated and governed by computers over the internet.
In reality however, the story is far more interesting and complex than can be conveyed in a single sentence. Indeed the topic will be the focus of the majority of the posts on this site.
This post is the first of an introductory series which will take a look into the origin and mechanics of crypto currency.