Ethereum was initially described by Vitalik Buterin in late 2013, formally described by Gavin Wood in early 2014 in the so-called "yellow paper" and launched 30 July 2015. It is among a group of "next generation" (or "Bitcoin 2.0") platforms.
Satoshi Nakamoto's development of Bitcoin in 2009 has often been hailed as a radical development in money and currency, being the first example of a digital asset which simultaneously has no backing or "intrinsic value" and no centralized issuer or controller. However, another, arguably more important, part of the Bitcoin experiment is the underlying blockchain technology as a tool of distributed consensus, and attention is rapidly starting to shift to this other aspect of Bitcoin.
What Ethereum intends to provide is a blockchain with a built-in fully fledged Turing-complete programming language that can be used to create "contracts" that can be used to encode arbitrary state transition functions, allowing users to create any of the systems described above, as well as many others that we have not yet imagined, simply by writing up the logic in a few lines of code.
Table of Contents
- Bitcoin As A State Transition System
- Merkle Trees
- Alternative Blockchain Applications
- Ethereum Accounts
- Messages and Transactions
- Ethereum State Transition Function
- Code Execution
- Blockchain and Mining
- Token Systems
- Financial derivatives
- Identity and Reputation Systems
- Decentralized File Storage
- Decentralized Autonomous Organizations
- Further Applications
- Modified GHOST Implementation
- Computation And Turing-Completeness
- Currency And Issuance
- Mining Centralization
- Miscellanea And Concerns
- References and Further Reading.
Developer(s): Gavin Wood, Jeffrey Wilcke, Vitalik Buterin, et al
Operating system: Linux, Windows, OS X, POSIX compliant
Type: Decentralized computing
License: GPL3, MIT, LGPL, et al
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