More info: https://blockchainhub.net/ Ethereum for Beginners: History of the Blockchain & Ethereum, Components, Outlook, Web 3.0, Serverless, Decetralized Universal World Computer

1. Ethereum
BlockchainHub ■ Dr. Shermin Voshmgir ■ April 14, 2017

2. Decentralized Universal
World Computer & Operating System

3. Decentralized Universal
World Computer & Operating System

4. Ethereum
History
#1 Bitcoin
#2 Colored Coins / Master Coins
#3 Ethereum

5. Bitcoin #singlefunction

6. ColoredCoin / MasterCoin #limitedmultifunctional

7. Ethereum: multifunctional operating system

8. Ethereum
Is like a smart phone
The P2P Network of computer is the
hardware running the Ethereum protocol.
The Ethereum protocol is the operating
System on which you can build any
decentralized app and run it on the P2P
Network, just as you run an app on the
phone, but with a few additional properties
● Built in programming language
● Anyone can create any application
with any rules by defining it as a
contract
● Two types of accounts:
_user account: controlled by private key
_contracts: controlled by code

9. Ethereum Technology Stack
Decouples the Smart Contract Layer from the Consensus Layer (unlike Bitcoin)

10. Ethereum
Decentralized
World Computer
# Blockchain-based
# Turing complete
# Virtual machine
# With smart contracts / dApps
# Through a cryptocurrency called
Ether
Smart contracts deployed on the
Ethereum blockchain are paid for in
Ether

11. Beyond
Transferring
Money
Smart contracts running on ethereum
can verify and auto-enforce any type of
business or legal agreement.
#CryptoEconomy
#CryptoLaw

12. Web3
Powered by Ethereum
# Trust machine
Ethereum commodities trust. Is a
bridge across trust boundaries
# Ethereum & crypto law
Use blockchain to introduce arbitrary
social contracts without a central
server
# Serverless Internet
Pivotal in the re-decentralization of the
Internet

13. Ethereum
History
# Initially described
by Vitalik Buterin in late 2013
(white paper)
# Formally described
by Gavin Wood in early 2014 (yellow
paper)
# Launched in July 2015
after a successful crowdfundig
campaign (21mio USD in Bitcoin within
a month)

14. Ethereum
Currently...
# Slow: code runs 5-100 times slower
than natively compiled
# Expensive to use: Basic compu-
tation, memory and storage are 1950s
level
# Not always immediately decisive:
Actions of last 60s might be recognised

15. But...
# Truly globally singleton: one
computer for the entire planet
# Cannot fail, be stopped be
censored: no authority, government or
corp behind it, resistant to attack
# Ubiquitous: wherever there is
internet there is ethereum
# Natively multi user: has as many
accounts as needed

16. But...
# Natively object oriented: En-
capsulation enforced in virtual silicon
# Accessible: wherever there is
javascript, there is ethereum
# Verifyable & Auditable: all code
honoured now and forever
# Atomicity: entire operation runs or
nothing does
# Synchrony: no two operations can
interfere with each other

17. But...
# Provenance: all messages (method
calls) can be inspired to determine
called addresses
# Permanence: objects are permanent
# Immortality: object can never be
externally deleted, can only voluntarily
commit suicide
# Immutability: objects code can never
be changed)

18. Servers
The Walled Gardens
# Interoperability is difficult:
Reliability, standard, trust, security
collude to make it a nightmare
# Increased barriers: Naturally
supportive of monopolies
# Cumbersome: Servers are expensive
to set up and maintain
# Bottleneck
Single point of failure
Single point of control

19. Ethereum
Always on, always ready
# Privacy
Less siloing of user data, less
intermediation, more privacy.
# Security
Through nihilism, there is no server to
hack.
# Authenticity
All interactions with the global
computer are cryptographically signed.

20. Compared to the walled garden of the server,
unauthorized interactions are impossible in Ethereum

21. Vocabulary
# Ether: Native token
# Solidity: Smart contract
programming language
# Whisper: Communication protocol
for DApps to communicate each other
# Swarm: The ethereum decentralized
storage protocol.
# Mist: dApp browser

22. dApps &
Services
Build on Ethereum
(Examples)

23. Core
Components
● Wallet (uPort)
● Identity (uPort)
● Mulit faceted & multi layered
reputation system (Uport)
● Registries: RegSys (Consensys)
● NameReg (Ethereum Foundation)
● Ethereum Name System (Nexsus)
● Micropayment channels/off chain
transaction adjustement channels
(Raiden)
● dApp Store
● Libraries
● MetaMask (Ether bwoser)
● Token Issuance System
● EtherEx token exchange system (native
& Subtoken)
● Stable Token System
● Voting System (Parametrized, Liquid
Democracy)

24. Source
Ethereum for Dummies, Gavin Wood: https://www.youtube.com/watch?v=U_LK0t_qaPo
State of the Union, Vitalik Buterin: https://www.youtube.com/watch?v=OTmquseGW5o
Ethereum White Paper: https://github.com/ethereum/wiki/wiki/White-Paper
Web 3.0 White Paper : http://gavwood.com/web3lt.html

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@blockchainhub
Shermin Voshmgir
@sherminvo
@sherminvoshmgir