Answer all questions and post your answers in the thread linked below

Ethereum 101
#1

  1. What was Web 1.0? is an static website that can only show text, image, link.

  2. What is a smart contract? small pieces of codes that run in the Ethereum blockchain.

  3. How is transparency achieved with ethereum code? everyone can see what happening with the money. also its an application where on one can metal with it and no middleman and is trustless. you can do business business with anyone one without trusting them only trust the verification process of the blockchain process.

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#2

Hey @Truly_Blessed, hope you are great!

Would be great if you can copy and paste your post in this topic (which is the proper topic for that assignment) Homework on Ethereum Intro

Overall Nice answers! :nerd_face:

Carlos Z

#3

What was Web 1.0?

Web 1.0 is the first generation of the World Wide Web. Web 1.0 is a system of interrelated hypertext documents accessible via the Internet.

The main features of Web 1.0 are

• only reading the content,

• online presence and sharing information available to everyone at any time,

• static websites and the use of basic HTML tags,

• the webmaster was solely responsible for updating users and managing the content of the website

What is a smart contract?

A contract is a collection of code: functions + data that resides at a specific address on the Ethereum blockchain.

How is transparency achieved with ethereum code?

The transactions recorded in the blockchain are irreversible - each attempt to change one block changes the entire blockchain that follows. When attempted fraud: changing or introducing an unauthorized transaction, the blockchain nodes in the verification process will discover the non-compliance of the copy with the network records, refusing to include it in the blockchain.

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