Homework on Ethereum Intro

Ethereum 101
#1085
  1. What was Web 1.0? It was basically the internet without JavaScript meaning not chat, no social media etc.
  2. What is a smart contract? It is a code or piece of software that runs on the blockchain.
  3. How is transparency achieved with ethereum code? Smart contracts are visible to everyone. Don’t trust, verify.
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#1086
  1. What was Web 1.0?
    A. The first iteration of the internet where websites were static, populated with text, images & links only
  2. What is a smart contract?
    A. A small piece of code running on the ETH blockchain that you can send money to and program what to do with the money.
  3. How is transparency achieved with ethereum code?
    A. The code is publicly available
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#1087
  1. web 1.0 is the state of internet working on a concept of static content (pages were designed to always present the same content, could not show content that changed in the background, like in a database or other script, interactive or dynamic content)
  2. a smart contract is code executed on the etherium blockchain (in current case). it is immutable and cannot be stopped once run. it is intended to verify if a set of conditions is achieved and acts accordingly as programmed, without a need for a third verification party.
  3. transparency is achieved by decentralized verification and use of open source data and code
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#1088

  • What was Web 1.0?
    The original structure of the internet before the integration of javascript.

  • What is a smart contract?
    A smart contract allows the blockchain to hold funds indefinitely or until certain conditions have been met. It makes it possible for the blockchain to verify that the terms of a contract have been met before funds are transferred.

  • How is transparency achieved with ethereum code?
    Smart contracts are open for everybody to see, there are no middlemen.

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#1089

  1. It was the first stage of development on the World Wide Web that was characterized by simple static websites.

  2. A smart contract is a computer program or transaction protocol intended to automatically perform, control or document legally relevant events and actions under the terms of a contract or agreement.

  3. That everyone have the privilige to see what have been coded in the smart contract, without the presence of trust, which means total transparency.

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#1090

  1. Web 1.0 is the internet before javascript.

  2. A smart contract is code that programs how money will function on the blockchain.

  3. Transparency is achieved by decentralizing the information on the block chain. In order to verify that the information is consistent among all nodes it must be made public. Therefore it is transparent.

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#1091
  1. What was Web 1.0?

Web 1.0 was characterized by static content formatted and linked via HTML.

  1. What is a smart contract?

A smart contract is an executable piece of code that runs in a distributed way (for example on the Ethereum Virtual Machine) and is able to hold assets and / or release them, depending on conditions coded within the contract itself.

  1. How is transparency achieved with ethereum code?

Ethereum is an open source project, hence all interested parties can review the code.

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#1092
  1. The static version: text, images and hyperlinks. The web was just passive pages.
  2. An ancient term, not really describing the reality. A SC is a small program that can handle a money transfer with conditions.
  3. Any SC is registered on the BC, thus impossible to change, open source: it is readable for everyone who desires.
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#1093

  • What was Web 1.0?
    Web 1.0 was the first web developed which was static and contained only text, images and link. It was totally non interactive

  • What is a smart contract?
    A Smart contract is a small piece of code that runs on the Ethereum network.

  • How is transparency achieved with ethereum code?
    The whole system is transparent because everyone can see each contract on the Blockchain. Everyone can see exactly what is happening and nothing can be changed or altered in any way.

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#1094

  1. Static non-programable simple websites.

  2. Ability to program the conditions of a transaction on the blockchain.

  3. There is no governing body, there is no middleman, the smart contract conduct the transaction as code which is deterministic and unalterable.

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#1095
  1. What was Web 1.0?

Web 1.0 was when websites could only hold basic and fundamental elements, like text, images, links etc. This changed with the introduction of Java scripts, where websites (2.0) could start containing dynamic and conditional information (f.ex. accounts)

  1. What is a smart contract?

The biggest value proposition for Ethereum is smart contracts. With it’s native language of Solidity, one can deploy contracts (programs) on the Ethereum network. These programs are able to own and decide what to do with money, and are unstoppable after deployment.

  1. How is transparency achieved with ethereum code?

All interactions (transactions) with smart contracts are transparent to the Ethereum network. The contracts themselves are coded with the native language of Solidity, which makes anyone able to verify the contents (before deployment).

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#1096
  1. a flat static viewing space.
  2. Smart contracts are a self-executing piece of code that runs on a decentralized network like blockchain.
  3. Transparency is achieved with ethereum code be making all the smart contracts transparent.
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#1097
  1. Web 1.0 was the early static websites before javascript. on web 1.0 there was no chat, payments or social media.
  2. Smart contracts are small pieces of code that run on the ethereum network using a programming language called solidity.
  3. Transparency is achieved with ethereum code by placing smart contracts on to the blockchain for everyone to see but not be able to tamper with the code/smart contract.
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#1098

Homework on Ethereum Intro - Questions. (Questions were updated on Dec 3 2019 )

  1. What was Web 1.0?
  2. What is a smart contract?
  3. How is transparency achieved with ethereum code?

answers:

  1. The early internet only had static web pages that could display text, images and links. Later Javascript was introduced which allow a programming language to run on the pages adding more functionality.

  2. A smart contract is a program (set of instructions) that exists on a blockchain. A condition is set for the contract to be completed.

  3. The etherium blockchain network is based on POW (proof of work) in the same way as bitcoin so both the validity and conditions need to be propagated through the entire network to be executed.

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#1099
  1. Web 1.0 was the era of simple and static websites
  2. Smart contract are small pieces of code that run on the ethereum blockchain
  3. Openness of transactions and ability to be verified by anyone
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#1100

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

  1. What was Web 1.0?
    Answer: Unlike Web 2.0 which integrates Javascript to allow dynamic data input and account information, the first generation Web 1.0 was built to only support static information, as there was no Javascript integrated into the Web browser I.e [ text, image, link] only.

  2. What is a smart contract?
    Answer: A Smart Contract is small pieces of code that run on the Ethereum Blockchain and that can be programmed to execute a future condition.

Example: A Smart contract could be programmed to send Money to my son but only if and when my son achieves a grade point average of “A”; then and only then will the Smart Contract execute to transfer/send money.

Note: Smart Contracts are programmed using solidity software language, and are unstoppable. Once initiated, the smart contract cannot be tampered with or prematurely terminated. In addition, Smart Contracts allow two complete-strangers to interact with by sending money or a transaction of value, and the two complete strangers will not need to worry about Trust. Trust is guaranteed through the Smart Contract using Solidity language to create a legitimately binding agreement, and does not require any central authority/middleman; no banks, no human arbitration is required.

  1. How is transparency achieved with ethereum code?

Answer: Ethereum operates similarly to Bitcoin Blockchain whereby all transactions may be verified by the public. Ethereum is an open, public, and permissionless blockchain. Once a transaction record is written to the blockchain in the distributed ledger, anyone (the public) may view the transactions via the transparent nature of the blockchain itself. Although the general public may view transactions they cannot modify, edit, nor delete the public ledger; the blockchain is an immutable ledger.

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#1102

through PoW consensus

#1103
  1. Web 1.0 was “the period” when we had just static webpages.
  2. A smart contract is a way of programming money with a line of code.
  3. We can see what a smart contract is doing.
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#1104
  1. It was the first version of Internet, which was static and could support only text and images, before Javascript was introduced.
  2. Smart contracts are small pieces of code, which ran on the Ethereum blockchain, which are programmable and allow transactions without intermediaries.
  3. Transparency is achieved by the fact that anyone can see the code and transactions can’t be changed.
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#1105
  1. It was based on static websites. No dynamic action.
  2. It is a preprogrammed contract which will automatically execute and transfer values at certain input conditions.
  3. All the data and code available, and transparent on the ethereum block chain.
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