Seeing the ERC-20 standard made me think “do they have the equivalent” for different blockchains. Found this on Google: https://www.ledgerinsights.com/iso-blockchain-standards/
excited to be here… Ethereum 1.0 in preparation for 2.0
My concern about ETH is who decides how many ETH will be printed. Is not ETH in this sense similar to fiat? With BTC we know how the supply will go, with ETH we dont. Correct me if I am wrong.
No questions so far. Looking forward to learn deeper about the Smart contracts in Ethereum enviroment!!!
Hi All
I am enjoying the ethereum 101 course very much it is very informative. hoping this will lead to a career move.
I am new and raw, and this course is awesome!!!
Hey Guy’s! I want to validate my understanding on GAS concept
Smart Contracts written in Solidity programming language
==> After Compilation ==> Byte Code<== EVM (reads byte code to execute the SC)
Gas fee= units are hard coded value for each function (e.g. add =3,SHA256=60)
I also learnt that Smart contract can also be written in any other programming language e.g. Viper and when compiled into byte code, EVM can execute the SC.
My Question:
If SC is written in different programming language and gas is associated with functions then how it recognizes the function and gas fees. Meaning each language may have slightly different way of writing the functions and code right
This was very interesting.
As long as those programming language compile into binary code that can’t harm the EVM, is possible, but dealing with different languages representation could be the real challenge.
Carlos Z
Hey! The my first reply…
Hi.
I have some doubt about Account model and UTXO.
With UTXO, our wallet does not have bitcoin, it only has the access to some UTXOs that are on the bitcoin blockchain.
In Ethereum with Account model, our wallet has the eth? or is like UTXO?
Hi guys
This Institute is great, haven’t been here for long, since I m on my 7th chapter of first course
Eth 101. Already feeling enlighten by Ivan.
Cant wait to dwell deeper.
Thank You
Hello. I am a newbie in the cryptospace. Learning a lot of new and interesting concepts here.
So, GWEI is basically a small unit of Ethereum? Like the equivalent of a SATOSHI in BITCOIN?
Can someone also help me understand why the UTXO Model is better for privacy rather than the Account Model?
Thank you Crypto Fam!
In Ethereum Account Model the balance is stored directly on the blockchain and its being hold through each wallet(address), instead of a bunch of UTXO to spend, you just have a number that represent the amount of tokens that your address hold.
If you have any more questions, please let us know so we can help you!
Carlos Z.
It’s a denomination, like cents to Dollars or pennies to Pounds, or even satoshis in bitcoin.
Here is the list of denomination starting with the smallest unit which is wei
wei: 1
kwei: 1.000
ada: 1.000
femtoether: 1.000
mwei: 1.000.000
babbage: 1.000.000
picoether: 1.000.000
gwei: 1.000.000.000
shannon: 1.000.000.000
nanoether: 1.000.000.000
nano: 1.000.000.000
szabo: 1.000.000.000.000
microether: 1.000.000.000.000
micro: 1.000.000.000.000
finney: 1.000.000.000.000.000
milliether: 1.000.000.000.000.000
milli: 1.000.000.000.000.000
ether: 1.000.000.000.000.000.000
The UTXO it just makes it harder to track the funds, there are still procedures to keep track of the funds provenance of a wallet (since the blockchain is public, there will always be a way to track any wallet funds).
The Account Model is quite easy to track the provenance of a wallet/account, since you can track “from, to, quantity, hash, time” on the blockchain in a way more simple than UTXO.
Even the fact of sending funds back to yourself, means an output with a input, so you can send 1 BTC (1 input) divided for 8 persons, 0.1 BTC per person = 0.8 BTC for persons (8 outputs). The rest 0.2 BTC will be automatically sent to another address that you control from your private keys, so it counts has another output. Inputs must be spent completely, there is no way to spent like 80% of an input (0.8 BTC), this is why if you spend that 80% to persons, the 20% goes back to yourself in another address (create a new input with the rest of the funds 0.2 BTC).
From the human perspective, is quite hard to follow the track of 1 input with 9 outputs. This is when some kind of privacy comes from, since 1/9 output is yourself and 8/9 are the persons. How can you track from the outside which belongs to who?
The Account Model is quite easy to track the provenance of a wallet/account, since you can track “from, to, quantity, hash, time” on the blockchain in a way more simple than UTXO.
Hope this gives you a clear view of the subject, keep learning! :
If you have any more questions, please let us know so we can help you!
Carlos Z.
awesome answer, thank you Carlos
Bitcoin = fiat paper money but with no inflation, you cannot print more than 21 million. is like the dollar back in the day that was backed by gold. Bitcoin is non-fungible and has a “serial Number” on each bitcoin. Bitcoin is digital gold
Ethereum = fiat money with inflation necessary for the development of the ecosystem aka smart contracts. Ether is fungible meaning easily transferable. Ethereum is “lithium reserves” the power house of smart contracts decentralisation
Hi Ana, happy to see persons like you here. Let’s connect also on Linkedin. https://www.linkedin.com/in/florincarare/
Kind regards
Florin
Hello everyone. I guess my main goal initially is to understand blockchain products enough to make wise investment decisions. This will allow me to quit the job I have now and put more time into learning how to become a developer who brings value to a project. Wish everyone a year full of knowledge, enlightenment, and opportunity. I thank everyone for all their input.
It would be nice to have prerecorded short clips about individual subjects like visual index with animation to explain each item. A 1 minute video animation dictionary for each item in blockchain as a reference.