- The first, most basic version of the web. No Javascript, so no real interactions other than reading, looking at images, and clicking links.
- A code which executes a contract, eliminating the need for trust.
- The terms of agreement are written right into the code, which can be seen by anyone. The transactions are also trackable.
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Static, text, image, links
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Smart contract is code in which can carry out actions without intermediary as long as criteria for smart contract is met.
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Ethereum code is open source and verifiable, trust-less.
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What was Web 1.0?
Was the first version of the internet. It was static, only text, images, and Links. Used to read and share information. -
What is a smart contract?
Small pieces of code using the program solidity. Used to hold and program money without an intermediate. -
How is transparency achieved with ethereum code?
Everyone can see whats happening in the code. It cannot be changed or reversed, which makes it trustless.
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From a consensus perspective, how is Ethereum different from bitcoin?
Both Ethereum and Bitcoin use Proof of Work (POW) but block sizes and block times are different. Smart contracts are possible on the Ethereum network. Every node has an Ethereum Virtual Machine (EVM) which is able to read smart contracts.
Bitcoin uses UTXOs. Ethereum uses balances. Bitcoin uses the SHA-256 hashing algorithm and Ethereum uses Ethhash. Ethereum eventually plans to move to Proof of Stake (POS). Bitcoin is a decentralised value transfer system. Ethereum is a decentralised protocol which supports turing complete programs.
How are smart contracts executed in Ethereum compared to in a normal computer?
Smart contracts are executed on the Ethereum network using an EVM which is hosted on each node on the network. Each node needs to synchronise with the fully updated status of each smart contract on the network. The EVM reads the code within the smart contract, verifies that all variables are true and translates it to byte code so that the CPU can read and process it. When all nodes return the same result then the smart contract is executed.
What are the benefits of executing the code on many nodes instead of just single computer/server?
The integrity and security of the code is much increased due to being verified by multiple nodes. There’s no central point of failure or attack so therefore the network is immutable and decentralised.
It also ensures trustlessness, censorship resistance and that the network cannot be tampered with or altered.
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- web 1.0 contained simple websites that could only share data and information.
- A smart contract is a transparent contract for an exchange of goods that has its own specific code to make it incorruptible.
- Everyone can see the contract.
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- Web 1.0 was the original incarnation of the internet consisting of static websites of text and images in a view only format. There was nothing dynamic or interactive about these websites. This changed after the arrival of the programming language java script which ushered in Web 2.0.
- A smart contract is a self-executing contract with terms of agreement between buyer and seller written into the code.
- The contract is visible and immutable. This creates a trust-less deal that can be verified.
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- What was Web 1.0?
static website without js
- What is a smart contract?
programmable money
- How is transparency achieved with ethereum code?
everyone can see everything what’s happening
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Web 1.0 was the internet before the application of Java script, this update allowed for a more dynamic and programmable internet that displayed more than just text, images and link
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A smart contract is a small piece of code on the etherum blockchain that holds money and decides what to do with it according to the code. They increase transparency by putting the code on the blockchain and therefore making the contract immutable.
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Transparency is achieved through etherum code as all information on the blockchain once added cannot be removed thus the behaviour of all apps on the ethrum code’s behaviour cannot be altered.
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- What was Web 1.0?
static web pages displaying texts and images. - What is a smart contract?
a program that holds money and decides when and how to spend it, under certain condition. - How is transparency achieved with ethereum code?
every one can see what is written in the smart contract.
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What was Web 1.0?
Web 1.0 refers to the first stage of the WWW evolution consisting mainly of static text, images, and links. -
What is a smart contract?
A smart contract is a transaction protocol which is intended to automatically execute, control or document legally relevant event and action according to the terms of a contractor or an agreement. -
How is transparency achieved with ethereum code?
All the data is transparent and available to be traced by anybody but the confidentiality can be achieved by encryption.
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Web 1.0 is a static website where there are only text, pictures, and maybe links. And the user interaction is limited to what the website gives.
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A smart contract is a program or software that runs on the blockchain and executes commands or events based on a data set or input. This smart contact cannot be reversed or tampered with as it is on the blockchain.
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Transparency is achieved with ethereum code as it is visible to everyone and it does not have a bias towards a subject/party.
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Web 1.0 was the web before JS, etc,… basically read only web.
A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties.
The current and past holdings of the cryptocurrency via transaction records are on the blockchain ledger. … Having the same records spread across a large network for all to see is the core of blockchain transparency. It is also why the blockchain is considered hacking-resistant.
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What was Web 1.0?
Web 1.0 allowed only such things as text, images and links to be deployed. There was nothing else until javascript was introduced and deployed. -
What is a smart contract?
Smart Contract is an implemted code running on the Ethereum blockchain that allows a set of events to happen through finance such as “If my son works for 180 days straight THEN reward sons wallet with 2 Ethereum” Same with “If I do not access or interact with smart contract for 12 years then send ALL FUNDS to (person wallet)” It allows us to trust the math instead of trusting people or financial corporations. Verification is all that is needed. -
How is transparency achieved with ethereum code?
All transactions can be checked on the blockchain. What was sent, how much was sent, where it was sent from, where it was sent to on TIME/DATE. This information never leaves the blockchain. that is the beauty of it (especially for Governments and/or big corporations. Also takes out the need for an accountant in some cases / quick verifications are all that is needed. If TXs are verified at the end of every day or every week (depending on the amount of them) then trusting another person is not needed. This also saves money for small businesses and larger coporations
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The first version of the internet where people could visit static websites.
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A piece of software connected to the blockchain protocol that is programmed to make certain payment linked to pre-programmed conditions. The execution of these payments are executed by the protocol itself
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it is open source, therefore, open for anyone to audit. Do not trust but verify
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- Websites that were static, only having text, images, and a link
- A small piece of code that runs on the Ethereum network
- Smart contracts function of the Ethereum blockchain similar to how transactions function of the bitcoin blockchain. People verify the code similar to how miners verify transaction with blockchain, implying security.
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- Web 1.0 was mostly static web content and consisted of HTML, images and text. There was no interactivity.
- A smart contract is a program on top of the blockchain. It is a trustless solution that establishes conditions for the contract to execute actions. If the conditions are met it executes and it is not able to be changed one active unless those conditions are programmed into the smart contract.
- Since the transaction is on the blockchain anyone can see it. Users can use a blockchain explorer to see what is happening with the transactions and where they go.
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Web 1.0 were static websites that showed only text, pictures or links.
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A smart contract is a small piece of code, that runs on the blockchain. Once it is deployed, it is unstoppable (the smart contract expires when a certain event, that is written in the code, happens)
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It is open-source, so everything is visible and transparent.
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- What was Web 1.0?
A. Web 1.0 was an internet that was very “Static” in its operation. It could only produce for example
Text, Images, and Links making for a very limited involvement on a much deeper level.
2.What is a smart contract?
A. A smart contract is a piece of code that can run on the Ethereum Blockchain. Once deployed
they are unstoppable and yet transparent. .Smart contracts can be used entirely to
program money functions.
- How is transparency achieved with Ethereum code?
A. Anyone can see the code first of all. Then once a smart contract is deployed it cannot be
changed. If someone tries to alter a smart contract after it is deployed they will also have to
change the Blockchain it is attached too. Upon trying to do so will prove virtually impossible
because changing any data in a Block alters the validity of the chain at that point.
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