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Let us go beyond bitcoin: The Ethereum Network!
The significant use case of #Blockchain came up in the name of #Ethereum by a Russian-Canadian computer scientist and blockchain pioneer #VitalikButerin we will cover this great personality in our future articles! Now first cover the understanding of how ETHEREUM was an advancement from bitcoin!
Ethereum is a decentralized platform that enables developers to build decentralized applications (dApps) (WILL COVER IN FUTURE ARTICLES) and execute smart contracts(WILL COVER IN FUTURE ARTICLES).
Ethereum uses a blockchain, which is a distributed ledger that records and verifies transactions. The blockchain consists of a network of computers (nodes) that validate and store transactions, ensuring that they are secure, transparent, and tamper-proof.
The core technology that underlies Ethereum is the #EthereumVirtualMachine (EVM). The EVM is a virtual machine that runs on the Ethereum blockchain and executes smart contracts. Smart contracts are self-executing contracts that can automate the negotiation, execution, and enforcement of agreements between parties.
In addition to the EVM, Ethereum uses a consensus mechanism called #proof-of-stake (PoS) to validate transactions and add new blocks to the blockchain. PoS is a more energy-efficient alternative to the proof-of-work (PoW) mechanism used by Bitcoin, as it doesn't require miners to solve complex mathematical puzzles to validate transactions.
Ethereum also uses its own programming language called Solidity, which is used to write smart contracts that can be executed on the EVM. Solidity is similar to JavaScript and is designed to be easy to learn and use.
Overall, Ethereum's technical infrastructure is designed to provide a decentralized platform for building and running decentralized applications and smart contracts, with a focus on security, scalability, and efficiency. Its combination of the EVM, PoS consensus mechanism, and Solidity programming language make it a powerful platform for developers looking to build decentralized applications and automate complex business processes.
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STAY TUNED AND DO FOLLOW US
Ethereum is a decentralized platform that enables developers to build decentralized applications (dApps) (WILL COVER IN FUTURE ARTICLES) and execute smart contracts(WILL COVER IN FUTURE ARTICLES).
Ethereum uses a blockchain, which is a distributed ledger that records and verifies transactions. The blockchain consists of a network of computers (nodes) that validate and store transactions, ensuring that they are secure, transparent, and tamper-proof.
The core technology that underlies Ethereum is the #EthereumVirtualMachine (EVM). The EVM is a virtual machine that runs on the Ethereum blockchain and executes smart contracts. Smart contracts are self-executing contracts that can automate the negotiation, execution, and enforcement of agreements between parties.
In addition to the EVM, Ethereum uses a consensus mechanism called #proof-of-stake (PoS) to validate transactions and add new blocks to the blockchain. PoS is a more energy-efficient alternative to the proof-of-work (PoW) mechanism used by Bitcoin, as it doesn't require miners to solve complex mathematical puzzles to validate transactions.
Ethereum also uses its own programming language called Solidity, which is used to write smart contracts that can be executed on the EVM. Solidity is similar to JavaScript and is designed to be easy to learn and use.
Overall, Ethereum's technical infrastructure is designed to provide a decentralized platform for building and running decentralized applications and smart contracts, with a focus on security, scalability, and efficiency. Its combination of the EVM, PoS consensus mechanism, and Solidity programming language make it a powerful platform for developers looking to build decentralized applications and automate complex business processes.
THANK YOU
STAY TUNED AND DO FOLLOW US
Can Bitcoin Go Mainstream by Linking with Ethereum’s EVM? 👀
Botanix Labs founder Willem Schroé argues that for Bitcoin to achieve mainstream adoption and real-world utility, it must connect with the Ethereum Virtual Machine (#EVM ).
He believes the EVM is the application layer for the global financial system and sees potential in #bitcoin integrating with the broader financial ecosystem.
Schroé's company, Botanix Labs, is working on a solution called "Spiderchain" to bridge Bitcoin and Ethereum through a #proof-of-stake layer 2 without requiring a Bitcoin fork.
He criticizes existing wrapped Bitcoin solutions for their centralized nature and regulatory vulnerabilities. While some Bitcoin developers are discussing the idea of "drivechains" to bring Ethereum functionality to Bitcoin, not everyone in the Bitcoin community supports expanding its use cases.
Schroé believes that uniting Bitcoin and Ethereum could lead to innovative applications with decentralization and security as core principles.
#Binance
#crypto2023
Botanix Labs founder Willem Schroé argues that for Bitcoin to achieve mainstream adoption and real-world utility, it must connect with the Ethereum Virtual Machine (#EVM ).
He believes the EVM is the application layer for the global financial system and sees potential in #bitcoin integrating with the broader financial ecosystem.
Schroé's company, Botanix Labs, is working on a solution called "Spiderchain" to bridge Bitcoin and Ethereum through a #proof-of-stake layer 2 without requiring a Bitcoin fork.
He criticizes existing wrapped Bitcoin solutions for their centralized nature and regulatory vulnerabilities. While some Bitcoin developers are discussing the idea of "drivechains" to bring Ethereum functionality to Bitcoin, not everyone in the Bitcoin community supports expanding its use cases.
Schroé believes that uniting Bitcoin and Ethereum could lead to innovative applications with decentralization and security as core principles.
#Binance
#crypto2023
Gary Gensler, Chair of the US #SEC has reiterated that #proof-of-stake coins may be securities, urging operators to comply with regulations. He made the comments following a commission meeting on cybersecurity, responding to statements made by #CFTC chair.
#CoinGabbar
#CoinGabbar
Strategic partnership Orbs Network and THENA !
All of you heard about great $600,000 strategic investment from #Orbs Network to #Thena ❗
Very excited news ❗ But what do you know about Orbs Network?
Let's talk about.
Orbs is an open and decentralized blockchain. Picture it as a shared computer network, similar to Ethereum or Bitcoin , where everyone can participate. It uses #proof-of-stake (PoS) consensus and has special validators known as Guardians who oversee the network.
Key Points:
1️⃣ Decentralized Network: Guardians, acting like supervisors, ensure the network's security since 2019.
2️⃣ Proof-of-Stake: Guardians make decisions by staking Orbs tokens in contracts on Ethereum and Polygon. They can also receive additional staking power from the Orbs community.
3️⃣ Secure Elections: Orbs relies on Ethereum's robust security for trustworthy elections. It's the first Proof-of-Stake network not handling its own elections; instead, it leans on Ethereum for support.
In essence, Orbs enables people to collaborate on a Blockchain , leveraging Ethereum's security for fairness and reliability.
Thanks for reading 👍
Very excited news ❗ But what do you know about Orbs Network?
Let's talk about.
Orbs is an open and decentralized blockchain. Picture it as a shared computer network, similar to Ethereum or Bitcoin , where everyone can participate. It uses #proof-of-stake (PoS) consensus and has special validators known as Guardians who oversee the network.
Key Points:
1️⃣ Decentralized Network: Guardians, acting like supervisors, ensure the network's security since 2019.
2️⃣ Proof-of-Stake: Guardians make decisions by staking Orbs tokens in contracts on Ethereum and Polygon. They can also receive additional staking power from the Orbs community.
3️⃣ Secure Elections: Orbs relies on Ethereum's robust security for trustworthy elections. It's the first Proof-of-Stake network not handling its own elections; instead, it leans on Ethereum for support.
In essence, Orbs enables people to collaborate on a Blockchain , leveraging Ethereum's security for fairness and reliability.
Thanks for reading 👍