What is Ethereum?
Before you can understand ethereum, it helps to first understand the internet. Today, our personal data, passwords and financial information are all largely stored on other people’s computers – in clouds and servers owned by companies like Amazon, Facebook or Google. Even this CoinDesk article is stored on a server controlled by a company that […]
How to Use Ethereum
The thought of using ethereum might sound intimidating, but it could be rewarding. If the ‘unstoppable world computer’ develops according to plan, it could provide alternatives to the Facebooks and Googles that many people use everyday (as explained in “What is Ethereum?“). Ethereum might not be as intuitive as the web as we know it today, but […]
How Ethereum Works
Now that we’ve covered what ethereum is, let’s dive deeper into how the platform functions under the hood. Consider the online notebook application described in “What is Ethereum?“ Using ethereum, the app doesn’t require one entity to store and control its data. To accomplish this, ethereum borrows heavily from bitcoin’s protocol and its blockchain design, but tweaks […]
What is a Decentralized Application?
Internet users don’t have sole control over the data they share on today’s websites. Ethereum is unique in that it attempts to wield the blockchain as a way to correct what its designers believe is a problematic part of the internet’s design. It’s like a “decentralized appstore” where anyone can publish their unstoppable apps (dapps), […]
How Do Ethereum Smart Contracts Work?
Like many ideas in the blockchain industry, a general confusion shrouds so called ‘smart contracts’. A new technology made possible by public blockchains, smart contracts are difficult to understand because the term partly confuses the core interaction described. While a standard contract outlines the terms of a relationship (usually one enforceable by law), a smart contract […]
How Ethereum Mining Works
Today, miners play an important role in making sure ethereum works. This role isn’t immediately obvious, though. Many new users think that the sole purpose of mining is to generate ethers in a way that doesn’t require a central issuer (see our guide “What is Ether?“). This is true. Ethereum’s tokens are created through the process of […]
How Will Ethereum Scale?
Like other public blockchains, ethereum intends to support as many users as it can. The problem is that, today, we don’t really know the limits of the platform. Because of a hard-coded limit on computation per block, the ethereum blockchain currently supports roughly 15 transactions per second compared to, say, the 45,000 processed by Visa. This limitation […]
How to Mine Ethereum
Now that you know “How Ethereum Mining Works“, you may want to know how to compete in the race to mine ether yourself. To recap, mining is the glue that holds ethereum’s ‘decentralized app store’ together by ensuring that it comes to consensus on each change to any of the applications (dapps) running on the […]
What is Ether?
As we explored in “What is Ethereum?“, ethereum aims to function both as a kind of decentralized internet and a decentralized app store, supporting a new type of application (a “dapp”) in the process. But while no one owns ethereum, the system that supports this functionality isn’t free. Rather, the network needs ‘ether’, a unique piece […]
Who Created Ethereum?
In 2008, an unknown developer (or developer group) invented bitcoin as a new way to send value over the internet. Four years later, a 19-year-old dreamed up a new platform based off of this innovation in an effort to transform the internet entirely. Vitalik Buterin, a programmer from Toronto, first grew interested in bitcoin in […]