Blockchain
A Blockchain is a emerging technology in the modern world and is the foundation of Web3. As its name implies it is compositions of blocks, chained together to form a public database that is updated and shared across many computers in a network.
It is also named as distributed ledger with growing lists of blocks that are linked together via cryptographic algorithm.
The term Blockchain was first appear in a cryptographic paper "How to Time-Stamp a Digital Document” published in 1991 by Stuart Haber and W.Scott Stornetta
The popularity of this technology was widely spread, when on January 09,2009 Satoshi Nakamoto released first version of Bitcoin software and launched the network by defining the genesis block of bitcoin, block 0, which has reward of 50 bitcoins.
With the time there are many frameworks based on blockchain are emerged, among them the widely adopted frameworks are,
Here, I want to brief about Ethereum and it’s surrounding ecosystem.
In 2013, Vitalik Buterin , a young programmer and Bitcoin enthusiast started thinking about further extending the capability of Bitcoin and shared a whitepaper that outlined the idea behind Ethereum.
Ethereum is a general purpose platform , support a broad variety of applications by being programmed. A developer can program their particular application without having to implement the underlying mechanisms of peer-to-peer networks, blockchains, consensus algorithms, etc. The Ethereum platform was designed to abstract these details and provide a deterministic and secure programming environment for decentralized blockchain applications.
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The complete Ethereum stack may vary from project to project, however below are the core components of Ethereum that help provide a high level model for how software application interact with Ethereum blockchain.
The Ethereum Virtual Machine (EVM) is the runtime environment for smart contracts on Ethereum. All smart contracts and state changes on the Ethereum blockchain are executed by transactions.A transaction is cryptographically signed instruction. The EVM handles all of the transaction processing on the Ethereum network.
Smart contracts are the executable programs that run on the Ethereum blockchain.
Smart contracts are written using specific programming languages e.g. Solidity, Vyper, Yul that compile to EVM bytecode (low-level machine instructions called opcodes).
Ethereum nodes are computers running Ethereum client software and store EVM state .In order for an application to interact with the Ethereum blockchain, it must connect to an Ethereum node. Connecting to a node allows you to read blockchain data and/or send transactions to the network.
Ethereum client API’s (built and maintained by Ethereum's open-source community) allow your applications to connect to and communicate with the Ethereum blockchain.
Frameworks app and pre-made stacks https://ethereum.org/en/developers/local-environment/
Awesome! It is always exciting to hear from technical expert who genuinely leveraged the core tech. You are one among few who worked in blockchain which is a foundation for many products such as bitcoin and Ethereum and list goes on…. Please keep sharing more insightful information….
Very informative. Explained in clear & cocise way. Thanks👍