** Ethereum Developer's Certification course: https://www.edureka.co/ethereum-developer-course ** This Edureka's Ethereum video on Ethereum Explained is intended to guide you through Ethereum as a platform and why it's taken the world by a storm. The following topics are discussed in the video: 1. The need for Ethereum 2. What's different in Ethereum 3. Ethereum Protocols 4. Pillars of Ethereum 5. Gas 6. Decentralised Applications Here is the link to the Blockchain blog series: https://goo.gl/DPoAHR You can also refer this playlist on Blockchain: https://goo.gl/V5iayd

1. Hadoop vs Spark

2. 1. The need for Ethereum
2. What’s Different in
Ethereum
3. Ethereum Protocols
4. Pillars of Ethereum
5. Gas – Computation Credit
6. Demo Dapp
Agenda

3. Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course
With the invention of the bitcoin blockchain developers and the general public alike both
understood the value of a truly decentralised network

4. Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course
A Blockchain for Everything
Inspired by bitcoins approach to decentralisation, developers from all around the world started
developing their own unique use case of the blockchain

5. Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course
Lack of Generality
However great or useful each blockchain use
case was, they lacked a sense of generality.
Even if a Blockchain had multiple features, there was no
option for more features to be added in a seamless fashion

6. Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course
Generalised Blockchain Platform
This is where Ethereum saves the day. Ethereum is built on a set of generalised protocols, much
like a smartphone, where developers can add new features just by writing code!

7. Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course
What’s Different?
Previous Block Hash
Block Hash
Smart Contract Transaction/State/Receipts
Ethereum’s block has accommodation for a lot more information than a general
bitcoin block. We can store business logic, state of the network, transaction records
and receipts

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So… let’s see the generalised
protocols that the Ethereum
network was built up on

9. Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course
Protocol 1: Equal Rights
Guest Account
• Owned by general users i.e.
humans
• Controlled by private keys
which is only known to the
account holder
Contract Account
• Owned by nobody
• Autonomous in nature
• Controlled by code that resides
on that specified account
address
Both accounts have equal rights such that they can
• Receive ether
• Send ether
• Store ether

10. Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course
Protocol 2: Freedom of Creation
Anyone can create an application with any rules by defining them as a contract on the network

11. Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course
Protocol 3: Freedom of Accessibility
Anyone can interact with these smart contracts by sending transactions to their address

12. Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course
Protocol 4: Immutability
Prev Block#
#ajsdgfy093
v2
Prev Block#
#oierhtgjnjvn
v1
Prev Block#
#jdsfbvijsdbi
v3
Everything on the blockchain is immutable. Even updates to contracts are pushed to a new address as an independent separate entity.

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So… Ethereum can be
thought of as a
distributed online
vending machine!

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But like…. Where’s the
processor that’s taking
care of all this
computation?

15. Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course
The Pillars of Ethereum
Ethereum Virtual Machine
The Ethereum virtual machine
serves as the heart of the
Ethereum architecture and
provides compute power
Inter-Planetary-File-System
IPFS serves as a distributed
storage unit for large files being
stored on the Ethereum network
Mist Wallet/Browser
Serves as a wallet for storing
ether, the network currency of
Ethereum. Also used for
deploying smart contracts

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So what’s stopping
someone from over-
clocking the compute
systems?

17. Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course
Gas: Computational Credit
To answer this particular problem, Ethereum uses a credit system for compute power. The credits
are called Gas and are purchased using Ether.

18. Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course
Gas: Computational Credit
…
while (true):
print (“you have been hacked”)
…
So when a piece of code runs out of gas, the state is rolled back and a network failure is avoided.
ETHEREUM BANK

19. Ethereum Applications
Ethereum has become a platform thriving with decentralised applications. Here are a few of my
favourites
Ujo – The Music DApp CryptoMovies – Movie Sharing Dapp

20. Ethereum Developer Certification Course www.edureka.co/ethereum-developer-course
Ethereum Course Outline
Blockchain 101
Introduction To Ethereum
Basic Solidity
Advanced Solidity
Developing DApps