This is a brief course on Ethereum Development where we will learn about developing a Decentralized application from the beginning. This course is ideal for someone having a basic understanding of programming.
In this first chapter, we will learn about the basics that will give us an overall idea about everything we will deal with while developing any decentralized app with Ethereum.
DApps:
Unlike traditional applications which depends on a "Centralized" Server for storing App codes and Data, "Decentralized Applications"(DApps) runs on a network of user machines and devices. The underlying mechanism and protocols(sets of rules) to run decentralized applications is called "Blockchains".
Why DApps:
1. Reliability: DApps are reliable, since it doesn't depend at one centralized server, but several nodes. If one node is down the DApps are still accessible via other nodes.
2. Security: DApps are cryptographically secured, which is next to impossible to maliciously crack it.
3. Transparent: All the actions and Transactions are recorded so that the participants on a Blockchain network can see who owns what.
Why Learn Ethereum?
Ethereum allows the creation of Decentralized applications. It's a multi-billion dollar industry now backed by the Big Developers community and for developers, it's one of the most in-demand skills.
Some types of DApps that can be created using Ethereum :
1) Voting
2)legal Agreements
3) Supply Chains
4) Digital Ownership
Structure of Ethereum backed DApps
"Bitcoin" was the first implementation of Blockchain as a cryptocurrency. It addressed the following challenges that came up with the centralized banking system:
1) Requires total trust
2) Slow transactions
3) High fees
How has Bitcoin Addressed this issue with a centralized banking system?
Operations of a Blockchain
Hash Functions
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