Ethereum: a new generation of blockchain platform
1. What does the design of the consistency protocol include?
- Security, ensuring that the data stored in each node can reach consensus
- An effective incentive mechanism provides certain economic rewards to ensure the stable and healthy operation of the architecture.
2. Ethereum
- The core of Ethereum is the Ethereum Virtual Machine (EVM)
- The so-called smart contract is a piece of EVM executable code.
- Benefits of the Ethereum blockchain: timestamps and traceability, issuance and circulation of digital assets, cross-organizational data sharing
3. Decentralized Application DAPP
DApp also has the characteristics of decentralization, transparency, incentive mechanism, and consensus mechanism.
Consensus mechanism: For example, PoW (proof of work) in Ethereum. The consensus mechanism refers to reaching a consensus on the correctness of the operation of a certain node.
- Golem: Computing resource prosumer and consumer market.
- cryptokitties: Cat-raising entertainment DApp, raising virtual cats. Each cat is unique and capable of breeding brand new kittens.
- Augur: Market prediction, there will be rewards for successful predictions, otherwise, there will be losses.
- Bancor: Token exchange exchange.
- kyberNetwork: Digital currency trading, more efficient and flexible than Bancor.
4. Mainstream open source projects of Ethereum
- Ethereum clients: Go-ethereum, CPP-etherum, Parity, pyethapp
- Ethereum browser and folding tools: Mist, metaMask
- Ethereum development tools: Web3.js, Remix, Truffle, ENS-register