hands-on presentation for Ethereum (blockchain app platform)

1. Ethereum
blockchain app platform

2. Blockchain
★ Addresses (Accounts)
○ createKey() -> (privateKey, pubKey)
○ verifySignature(pubKey, makeSignature(privateKey, data)) -> True
★ Blocks
○ Every ~15s
○ Transactions
○ Prevent double spending
○ Mining
■ Difficulty
■ hash(serialized(transactions)+nonce) -> N bits, 00000....difficulty...101011011101
■ rewards coins
■ limited supply of coins
○ P2P (every node has the full blockchain containing the history of all transactions)
■ Simplified wallet apps which only have private key for making transaction, delegating
transaction processing to blockchain access service provider

3. Bitcoin
★ Limited transaction language

4. Ethereum
★ smart contracts
○ pay transaction and computation with ethers
○ apps with state stored on blockchain
○ solidity - looks like javascript, turing complete transaction language
○ ethereum virtual machine (EVM)
○ mining epoch (GPU, no ASIC)
○ apps
■ alternative cryptocurrences
■ dapps

5. Ethereum
★ pros-cons of transaction languages
★ DAOs
★ market capitalization
○ btc: $~9B $600/btc
○ eth: $~0.9B $11/eth

6. Demo
★ Geth
★ Ethereum wallet
★ Mining pool, etherminer on GPU
★ Create, use contract

7. Q/A