Homework on Ethereum Intro

Ethereum 101
#1867
  1. What was Web 1.0?
    Web 1.0 was the format in which the World Wide Web was introduced to the world and it made available information and data in the form of static text, images and links (to other data) in a digital form which you could look at and read but not interact with.
    Web 1.0 was a huge deal because it marked the beginning of the Information/Digital revolution.
    However, in the 30 years since its inception, the WWW has advanced immensely and this was mainly due to the introduction of JavaScript into the creation of webpages. Today we have webpages that are alive and dynamic and enable users to interact with them with features like audio/video on web pages, animation, automatic refresh of pages, chat functions, display of webpage metrices etc.
  2. What is a smart contract?
    A contract is “smart” when it self-executes itself i.e. without the intervention of people in the form of any third party or authority.
    The terms of agreement that would usually exist between the parties in a Contract are in this case converted to lines of code or software and this code is uploaded onto a blockchain. In effect, a smart contract can be defined as a computerized transaction protocol that executes the terms of a contract in a manner that provides traceability, transparency and immutability to the contract.
  3. How is transparency achieved with Ethereum code?
    The programming language Solidity is used to write smart contracts that run on the Ethereum blockchain. As the code is deployed on the blockchain, it naturally takes on the properties of a blockchain i.e. – it is transparent for any interested party to examine and monitor, it is immutable and cannot be tampered with.
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#1868

  1. Web 1.0 was the internet before JS came along, where a website could only have text, images, links, and only very basic functionality.

  2. A smart contract is a piece of code deployed to the blockchain that dictates where the money goes and under what conditions.

  3. Transparency is achieved because the conditions of the contract are visible to anyone and cannot be changed and can’t be reversed unless it is programmed to.

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#1869
  1. Static websites with hyperlinks.
  2. Programmed code in the blockchain that carries out tasks based on predefined functions.
  3. Smartcontract codes are visible to everyone and all transactions are visible to everyone, it is decentralised therefore and cannot be changed
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#1870

1.- The first version of the web, where you could only read and share information.
2.- A type of contract that removes the trust on a middle man, the people involved just have to trust the technology and the programming behind it, it is deterministic.
3.- You can read the code and the smart contracts so you can verify processes are made correctly.

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#1871
  1. Web 1.0 was the first roll out of the internet in which websites were static and had no user engagement (chats, log in accounts etc.) it was purely comprised of text, images and links.
  2. A smart contract is a small piece of code/program that can be deployed on the Ethereum block chain to determine where money goes and under which conditions.
  3. Transparency is achieved since the blockchain remains publicly available as are the conditions of the code of the smart contracts.
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#1872
  1. What was Web 1.0?

Bitcoin, only transaction based actions.

  1. What is a smart contract?

Allowing a transaction to occur within the blockchain when a set of rule(s) is applied.

  1. How is transparency achieved with ethereum code?

The contract is transparent and everyone can read the code and in case they understand it they can verify it and gain trust in the contract.

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#1873
  1. Web 1.0 were Static Websites.
  2. A smart contract is a small piece of code that runs on the Ethereum Blockchain.
  3. The smart contract is visible on the Blockchain and cannot be changed.
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#1874

1 only suitable for simple website without interaction
2 additional rule wich can send with a tx
3 when a tx is made with a smart contract you can not undo that. and anybody can verify it

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#1875

  1. Static websites which could only show: text, image and links.

  2. Are small pieces of code that run on Ethereum blockchain; they can own and decide what to do with money.

  3. Everyone can see whats happening with that money, impossible to change the behavior of the contract. Anyone can verify it.

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#1876
  1. What was Web 1.0?

Web 1.0 was the first version on web. It is basically a read-only webpage for that reason is considered as static.

  1. What is a smart contract?

Smart contract are coded on blockchain in a way to be automatically executed according to terms and conditions set up. The code contains set up rules which can’t be changed and will be followed by the parts.

  1. How is transparency achieved with ethereum code?

Anyone can see and inspect the elements in each transaction.

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#1877
  1. Web 1.0 was the first version of the web. It was static and we could just see and read text, images and links.
  2. Smart Contracts are small code that runs on the blockchain. This code contains the rule that cannot be changed and everyone has to follow.
  3. The code of the smart contract are readable by everyone so they all know the rules.
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#1878

What was Web 1.0?

The technology was initially built for sending text messages between US missile silos which evolved into a network between universities, the ARPA network.

What is a smart contract?

A smart contract is a piece of code and documentation. From my perceptive the code is special in two ways.

It is written in a Turing complete programming language called Solidity, which allows the programmer to perform mathematical operations, with money and transact with accounts on the network. Be the digital bank so to speak.

The code is run on the Ethereum network on distributed nodes, so the developer doesn’t necessarily have to be involved in DevOps (cloud config and availability) unlike cloud hosting. The Ethereum Virtual Machine environment is something like serverless computing like AWS lambda but less maintenance and baked in costing, simply deploy to the network and your guaranteed the code will execute as it is has been programmed too which is a double edge sword so watch out! :slight_smile:

  • How is transparency achieved with Ethereum code?

Solidity is pure open source. Every contract is exposed to the public on deployment, take a look at a contract source code here for example: https://etherscan.io/address/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2#code

in addition every I/O transaction or state change the smart contract goes through is public and historically immmutable.

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#1879
    1. What was Web 1.0?
      At the moment ETH is using POW but is going to POS and the difference in hashing algoreritme where bitcoin uses SHA-256 and eth uses ethash.
    1. What is a smart contract?
      Ethereum uses EVM to execute code written in Solidity or Vyper to prevent CPU from malicious apps deployed to the network. Normal computer uses CPU directly. With a Smart contract you can for example set a contract that your daughter of son gets rewarded if he score’s high on a exame.
    1. How is transparency achieved with ethereum code?
      Transparent, trustless apps and more secured
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#1880

1. What was Web 1.0?
It was static: text, images and links

2. What is a smart contract?
Small pieces of code run the blockchain

3. How is transparency achieved with ethereum code?
Everyone can see the code and it is all recorded with no middle man just trustless

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#1881
  1. Web 1.0 consisted of static websites back when you weren’t able to program websites.
  2. A smart contract holds an amount of a coin and releases it based on certain criteria that must be met.
  3. Everyone can inspect elements of each transaction, and smart contracts prevent the need for trust in doing business.
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#1882
  1. Web 1.0 consisted of static text, images and links. You were not able to interact with them like the websites using Javascript being created today.
  2. A smart contract is a programmable code that can hold and manage money based on the code programmed into it. Once deployed it is unable to be reversed and will follow the instructions of the code.
  3. All transactions and codes on the blockchain are visible to anyone thus creating transparency. There is no need to trust anyone you only need to trust the code then everything can be verified by math.
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#1883

Excellent answers, It’s easy to understand. Please keep them like that :muscle:

Carlos Z.

#1884
  • What was Web 1.0?
    –Web 1.0 was the beginning of the internet. Each site you would visit would only contain text, images and links. These websites are static in nature. You can not have chat, different accounts, no social media, etc.
  • What is a smart contract?
    – smart contract is a small piece of code that runs on the ethereum blockchain, using the program “solidarity”. smart contracts are capable of owning money, and being programmed to behave in a certain way. The only way to access the funds in this contract is to follow the rules of the program within that contract.
  • How is transparency achieved with ethereum code?
    –Everyone can see the code in the program and how that program is suppose to behave. So there is no trust between the people involved in the transaction, no middle men. Al there is to trust, is the math and technology.
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#1885
  1. What was Web 1.0?
    The initial iteration of the internet only allowed for basic inputs like text and images.
  2. What is a smart contract?
    A smart contract is code written on a blockchain (whether Ethereum or otherwise), which sets parameters around how you can interact with it. Smart contracts are created to cut out the middle man and be trustless.
  3. How is transparency achieved with ethereum code?
    All aspects of the smart contract and transactions within it can be verified on the blockchain.
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#1886

  1. What was Web 1.0?
    It´s a static web where you can see images and links, but you can´t have interaction.

  2. What is a smart contract?
    It´s a small piece of code in Eth blockchain.

  3. How is transparency achieved with ethereum code?
    Everything is public in the blockchain, you just have to read de contract

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