From 1e8a89a4a9b24fa37844ede6fdc190b6238a87df Mon Sep 17 00:00:00 2001 From: Tyler Perkins Date: Sat, 4 Dec 2021 18:45:01 -0500 Subject: [PATCH] Update for 04-12-21 18:45 --- tech/Ethereum.wiki | 28 ++++++++++++++++++++++++++++ 1 file changed, 28 insertions(+) diff --git a/tech/Ethereum.wiki b/tech/Ethereum.wiki index d6e25b1..219cbb3 100644 --- a/tech/Ethereum.wiki +++ b/tech/Ethereum.wiki @@ -1 +1,29 @@ = Ethereum = + +Ethereum is a a type of block chain network + +Ethereum has an imaginary canonical computer (the *Etherum Virtual Machine*, or +*EVM*) whose state everyone in the network agrees upon. Every node keeps a copy +of the state. Any node can request the EVM carry out some computation, which in +turn updates the state of the EVM. This state is then propagated throughout the +machine. Requests for computation are called *transaction requests*. The list +of all transaction requests as well as the states of the EVM is stored on a +blockchain, which is in turn validated by all nodes in the network. + +== Ether == + +*Ether* is the native cryptocurrency of Ethereum. It is an incentive token for +nodes to verify and execute transaction requests and provide computational +resources for the network. + +When a computation request is made, a ETH bounty is attached as a reward for +carrying out the computation, and commiting it to the block chain. The amount +paid corresponds to the time required to perform the computation. The bounty +also makes it so that infinite computation requests are not possible. + +== Smart Contracts == + +Code can be written and submitted to EVM storage, to be run on the EVM. These +snippets of code are called smart contracts. The script is called and given +paramaters, then the EVM exectues that script and returns the state onto the +blockchain.