Ethereum: Guide to Blockchain Technology With Tips, Hacks and Guides for Mining Ethereum (Understand Ethereum Mining, Smart Contracts, and Decentralized Applications)

Ethereum: Guide to Blockchain Technology With Tips, Hacks and Guides for Mining Ethereum (Understand Ethereum Mining, Smart Contracts, and Decentralized Applications)

Jared Neil

Copyright © 2021, Jared Neil

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Table of Contents

Chapter 1: Ethereum 101

Chapter 2: What is Ethereum?

Chapter 3: Smart Contracts

Chapter 4: Difference between Ethereum and Bitcoin

Chapter 5: What is Ethereum?

Chapter 6: How to Invest in Ethereum & Cryptocurrencies

Chapter 7: The Technology Engine behind Ethereum

Chapter 8: Programing in Ethereum

Chapter 9: The Pros and Cons of Ethereum Trading

Chapter 10: Security Best Practices To Keep Your Ether Safe

Chapter 11: The Mining Process of Ether

Chapter 12: Programming with Ethereum

Chapter 1: Ethereum 101

We define Ethereum as the blockchain platform on which the currency basically known as Ether is exchanged. The blockchain is just open to all for development that anyone can design programmable functions for executing transactions & trades. That simply makes Ether and Ethereum such a very decentralized system lowering inherent risks & improving the user’s functional control all over the currency’s possibilities. 

While Bitcoin was developed in early 2008 & released to the public in 2009, Ethereum came 4 years later in 2013 & was presented by Vitalik Buterin. It was not until the following year that the infrastructure housing the decentralized blockchain was simply put into use, & still another year in 2015 until the public blockchain was just released. The Russian creator really developed the Ether system in Canada while actively involved in further developing Bitcoin. However, it was simply apparent that benefits could be easily made to the concept of Bitcoin, but would basically require its own blockchain to provide a complete flexibility in development & creation of applications. Thus, Buterin opted to just use a Turing complete programming language. His amazing invention awarded him the World Technology Award for the cryptocurrency's invention. You may be simply asking what Turing complete means.

Well, you really don't need to understand a large amount of math or computer science to be able to comprehend why Turing complete is such an advancement for cryptocurrencies. What you really do need to know is that Bitcoin, which is operated in just a computer language that is not Turing complete can’t express certain types of actions or contract requirements that would really be essential to make projects like Ethereum work.

What had been just happening previously was for every specific application that Bitcoin could not meet, people would simply create a new, alternative type of cryptocurrency or altcoin, to produce the results needed for each specific application Bitcoin was not able to handle. In one example, NameCoin had to be developed to register domain names that would really be resistant to any type of censorship. This is because Bitcoin could not access the type of language needed to get into registering domain names. Another important example is Litecoin which is the same as Bitcoin, except it is all open source. Due to the scripting & hashing of Litecoin, however, blocks can be easily generated at about 1/4th the time compared to Bitcoin, making mining more efficient. If you are interested in all the CCs, definitely research Litecoin.

In a more broad & fundamental approach, Ethereum’s foundation is still the Bitcoin blockchain type of technology, but the platform now has such a Turing complete programming language built into it. That actually means the platform can now cross-talk with any type of application you desire, & thus the building of apps (Dapps) and contracts becomes such a paramount strength in Ethereum’s framework.

Although Ethereum is decentralized, there