Homework on Ethereum Intro

Ethereum 101
#924

From a consensus perspective, how is Ethereum different from bitcoin?

  • Eth uses Ethash and Btc uses SHA-256. Both uses POW. BTC uses UTXO’s and ETH update the balances directly.ETH intends to move towards POS model in future.Gas is used to interact with smart contracts in ETH.

How are smart contracts executed in Ethereum compared to in a normal computer?

Smart contracts are run in EVM’s (Ethereum virtual machine’s) hosted in ETH network nodes.

What are the benefits of executing the code on many nodes instead of just single computer/server?

  • There are many benefits which includes trustless, more security, permissionless environment to code, censorship resistance.
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#925

  1. Web 1.0 was very basic and static with text, images and links.

  2. Smart Contract is a small piece of code that runs on the Ethereum Blockchain and the program used to create these Smart Contracts is Solidity.

  3. The Ethereum code is open source and is decentralised like the Bitcoin Blockchain so anyone can go and look at it and study it.

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#926

1.Web 1.0 is the first version of the internet space where webpages were static, showing only text, images etc.

  1. Smart contract is a piece of code, which runs on a blockchain. It is programmable to execute tasks when specific conditions are met.

  2. Transactions and smart contract conditions are at all times visible on the blockchain. That way there is no doubt of the network parties doing their agreed share.

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#927

Web 1.0 did not have any scripting (javascript)

It is code on the blockchain that executes automatically from real world conditions being met.

Ethereum code is open source, publicly available on the internet, and fully auditable, therefore it’s fully transparent.

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#928

  1. Web 1.0 is the old web where you can’t interact, you can only see text, images and links.

  2. It’s a pice of code that run over the Ethereum network and it can’t be modify, have specifics rules.

  3. Everyone can see what is happening in the code, and nobody can change how a smart contract behaves, there is no way to reverse or change the smart contract. As on bitcoin if you go back and change something everything else will be wrong.

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#929

1. What was Web 1.0?
Web 1.0 is internet at its early stage, where its application was limited only on applying texts, images, links. The application was Static.

2. What is a smart contract?
Smart contract is a protocol, one of the main value proposition of Ethereum blockchain. It is a decentralized, programable application which enables enforcement of users agreements on services, other applications without third party.

3. How is transparency achieved with Ethereum code?
Using Smart contract protocol, as a transparent, trust-less system.

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#930
  1. Its the structure of the early internet. It contained static websites with basic text, images and links.
  2. A smart contract is created from small pieces of code built on the blockchain source code. It allows for peer2peer trade that creates efficiency and cost benefits by skipping a central layer of control. The contracts are immutable and verified by protocol and made secure by consensus.
  3. The contract code is available for everbody to see in the blockchain.
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#931

  1. Web 1.0 is basically first version of internet. Only: static, text, image, link.

  2. Code that is programmed to execute with specific rules. It is written in solidity and is running on etherium network. It doesn’t need anyone to activate this code and is completely transparent.

  3. Anyone can read any smart contract. It is open and transparent.

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#932

  1. A first implementation of the Internet containing static data

  2. An autonomous money manager

  3. The code is readable by all

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#933

  1. Web 1.0 was a space where you could only accomplish simple feats. Text, links and images.

  2. A smart contract is a programmable script (in Solidity) that is deployed to Etherium’s blockchain. They are unstoppable , you can view activity, and these contracts can own/control funds. It causes for more decentralization and increased transparency.

  3. The possible applications can increase transparency. All transactions are seen, and power is again decentralized.

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#934

3. How is transparency achieved with ethereum code?

Indeed sir, but how transparency is achieved by that factor? could you please explain a little bit?

If you have any more questions, please let us know so we can help you! :slight_smile:

Carlos Z.

#935
  1. Web 1.0 was the first generation of the web which was static and limited to text, image, links and less complexity.
  2. A smart contract is a program on the blockchain that enforces itself based on a predetermined set of conditions
  3. All criterias of the smart contracts are visible to everyone as well as the results of the execution of the code which is less susceptible to corruption of the system
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#936

  1. Web 1.0 was the first wave of internet sites that were mainly static, boring, and simple, made of of text, images and links that did not change dynamically using Javascript.

  2. A smart contract is a blockchain transaction that is dynamic and programmable, based on certain criteria being met.

  3. Ethereum code allows for transparency by allowing the middleman to be skipped, as transactions will be carried out automatically and anyone can see and verify the execution of smart contracts without having to trust a third party (such as government, banks, or other organizations).

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#937

1.) The internet with static web pages before Java Script
2.) A smart contract is a monetized, verifiable contract in the either that is totally transparent and fulfilled upon the meeting of the conditions of the contract no matter what. You cannot change it once you agree to it.
3.) Observable, verifiable contracts on the blockchain.

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#938
  1. What was Web 1.0?
    The internet pre-javascript. Only static websites were on this version of the web.
  2. What is a smart contract?
    A program that is built into a blockchain that can store and control an asset (money/information).
  3. How is transparency achieved with ethereum code?
    Smart Contracts are a trustless system. Nobody to depend on to manage the asset. The program does it automatically.
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#939

  1. What was Web 1.0?
    The earliest web pages, which were static ie just text, images and links, no wat to interact, no social media, no user accounts.

  2. What is a smart contract?
    A code written in solidity on the etherium block which ‘owns’ money that it can release when a certain condition/s is met.

  3. How is transparency achieved with ethereum code? its a part of the publicly available block

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#940

  • internet that consisted of simplistic static websites

  • Smart contract is a code that runs on blockchain and can make money transactions programmable

  • everyone can see the code of the smart contract, however nobody can change the outcome of transaction after the smart contract has been deployed.

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#941

  1. What was Web 1.0? Static, information reading only, images, text, and links

  2. What is a smart contract? Small bits of code that run on top of a network such as ethereum

  3. How is transparency achieved with ethereum code? All transactions are viewable to everyone. Transactions are verified by the network.

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#942
  1. Static web content
  2. Programmable blockchain
  3. Everyone can read the code
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#943
  1. Web 101 was the original web when websites were just static and couldn’t react with people. An analogy made with BTC and ethereum.
  2. A smart contract is a contract made with code on the blockchain to perform a certain action after a certain condition is met or isn’t met. This cannot be altered or modified once set.
  1. Transparency is achieved because anyone can view the contract on the blockchain and see the likely result.
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