Ethereum Explained! 🚀 (Ultimate Beginners’ Guide! 📚) How Ethereum Works 💻 & Why it's Undervalued 🤑

00:21:59
https://www.youtube.com/watch?v=pR4Q52UxiAU

Ringkasan

TLDRIn diesem Video werden die Unterschiede zwischen Ethereum und Bitcoin sowie deren Beziehung zur Blockchain-Technologie erläutert. Ethereum, entwickelt von Vitalik Buterin, ist eine Softwareplattform auf Blockchain-Basis, die zur Erstellung dezentraler Anwendungen (Dapps) genutzt wird. Im Gegensatz dazu ist Bitcoin eine digitale Währung, die als Zahlungsmittel oder Wertaufbewahrung verwendet wird. Das Video erklärt die drei Hauptmerkmale der Blockchain: Dezentralisierung, Transparenz und Unveränderlichkeit. Der Hauptunterschied zwischen Bitcoin und Ethereum liegt darin, dass Bitcoin auf Proof of Work basiert, während Ethereum das energieeffizientere Proof-of-Stake-Modell verwendet. Zudem erläutert das Video die Rolle von Ether als kryptowährung, die Transaktionsgebühren innerhalb von Ethereum, das Konzept von Gas, das zur Berechnung der Transaktionskosten genutzt wird, sowie ERC20-Token, die auf Ethereum ausgegeben werden. Abschließend wird auf die Herausforderungen durch die mögliche Einstufung von Ethereum als Wertpapier hingewiesen.

Takeaways

  • 🤔 Ethereum ist mehr als nur eine Währung, es ist eine Softwareplattform.
  • 🔗 Die Blockchain-Technologie besteht aus Dezentralisierung, Transparenz und Unveränderlichkeit.
  • 💸 Ethereums native Kryptowährung ist Ether, nicht zu verwechseln mit Ethereum selbst.
  • 🛠️ Dapps sind dezentrale Anwendungen, die auf Ethereum entwickelt werden können.
  • 🔍 Transparenz in der Blockchain ermöglicht eine offene und nachvollziehbare Aufzeichnung von Daten.
  • ⚡ Ethereum verwendet Gas, um Transaktionsgebühren im Netzwerk zu berechnen.
  • 🌍 Proof of Stake ist ein energieeffizienteres Modell als Proof of Work.
  • 🌐 Die Ethereum Virtual Machine sorgt für Flexibilität und Sicherheit bei der Anwendungserstellung.
  • 💡 ERC20-Token sind spezielle Token, die den Ethereum-Standards folgen.
  • 📊 Die Umstellung von Ethereum auf Proof of Stake könnte regulatorische Auswirkungen haben.

Garis waktu

  • 00:00:00 - 00:21:59

    Die Anwendungsschicht von Ethereum ermöglicht die Erstellung von dApps, wie Uniswap und Opensea. ERC20 ist ein Token-Standard für die Erstellung von Kryptowährungen auf der Ethereum-Blockchain. Diese Token können verschiedene Funktionen haben und Regeln für die Kompatibilität befolgen. Mehr als 350.000 Token existieren bereits in dieser Kategorie, darunter bekannte wie Tether und Chainlink. Ethereum bleibt eine sich entwickelnde Technologie mit einem sich ändernden Fahrplan, um das Netzwerk sicherer und benutzerfreundlicher zu machen. Investitionen in Ethereum können über empfohlene Krypto-Börsen erfolgen, und Sicherheit wird durch Hardware-Wallets wie Tangent Wallet gewährleistet, das Transparenz und robuste Sicherheitsstandards bietet.

Peta Pikiran

Video Tanya Jawab

  • Wer hat Ethereum entwickelt?

    Ethereum wurde vom russisch-kanadischen Programmierer Vitalik Buterin entwickelt.

  • Was ist der grundlegende Unterschied zwischen Ethereum und Bitcoin?

    Ethereum ist eine Softwareplattform, die auf Blockchain basiert und die Entwicklung von dezentralen Anwendungen ermöglicht, während Bitcoin eine digitale Währung ist.

  • Was bedeutet Dezentralisierung im Kontext der Blockchain?

    Dezentralisierung bedeutet, dass Daten auf mehreren Geräten weltweit gespeichert und von niemandem zentral kontrolliert werden.

  • Was ist Ether?

    Ether ist die native Kryptowährung der Ethereum-Blockchain und wird zur Bezahlung von Netzwerkdiensten verwendet.

  • Was sind die Hauptunterschiede zwischen Proof of Work und Proof of Stake?

    Proof of Work erfordert, dass Computer gegeneinander antreten, um Transaktionen zu validieren, während Proof of Stake auf Einsätzen von Kryptowährungen und der Auswahl von Validatoren basiert.

  • Wie funktioniert das Gas-System von Ethereum?

    Das Gas-System berechnet die Gebühren für Transaktionen auf dem Ethereum-Netzwerk auf Basis des erforderlichen Rechenaufwands.

  • Was sind ERC20-Token?

    ERC20-Token sind eine Art von Kryptowährung, die auf der Ethereum-Blockchain gemäß bestimmten Standards entwickelt wurden.

  • Was bewirkt Ethereum smart contracts?

    Smart contracts sind Codezeilen, die die Bedingungen eines Vertrags festlegen und deren Umsetzung kontrollieren, ohne eine zentrale Autorität.

  • Welche Rolle spielt die Ethereum Virtual Machine (EVM)?

    Die EVM fungiert als globale dezentrale Supercomputer, die Dezentralisierung der Anwendungsentwicklung ermöglicht.

  • Welches Problem könnte die Umstellung auf Proof of Stake für Ethereum verursachen?

    Die SEC könnte Ethereum als Wertpapier einstufen, was regulatorische Herausforderungen mit sich bringen könnte.

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Gulir Otomatis:
  • 00:00:00
    many people associate ethereum with
  • 00:00:02
    Bitcoin and some people use the words
  • 00:00:04
    ethereum Bitcoin and blockchain
  • 00:00:05
    interchangeably by the end of this video
  • 00:00:07
    we will understand the key differences
  • 00:00:09
    between ethereum and Bitcoin and their
  • 00:00:12
    relationship with blockchain technology
  • 00:00:13
    so what is ethereum metallic buterin is
  • 00:00:17
    a Russian Canadian programmer and
  • 00:00:18
    cryptocurrency researcher who came up
  • 00:00:20
    with the idea for ethereum in 2013 which
  • 00:00:23
    finally went live in 2015. the most
  • 00:00:25
    plain and simple explanation of ethereum
  • 00:00:27
    can be broken down into two words
  • 00:00:29
    software platform now it makes ethereum
  • 00:00:32
    different from other software platforms
  • 00:00:34
    is that it is a blockchain based
  • 00:00:36
    software platform so before breaking
  • 00:00:39
    down what ethereum is we must first
  • 00:00:40
    understand its underlying technological
  • 00:00:43
    Foundation what is blockchain the most
  • 00:00:45
    plain and simple explanation of
  • 00:00:47
    blockchain is that it's a record of data
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    stored on a network of computers and
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    there are three pillars of blockchain
  • 00:00:53
    that make it unique decentralization
  • 00:00:55
    transparency and immutability so let's
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    break down these three pillars star
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    starting with pillar 1 decentralization
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    the word decentralization with regard to
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    blockchain is twofold one it means that
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    the data is recorded and stored on
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    multiple devices in multiple locations
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    around the world as opposed to one
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    central place in two decentralization
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    also means that no one person company
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    government Authority or entity controls
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    the data in record storage process so
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    instead of traditional centralized
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    entities like the IRS JPMorgan or MIT
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    recording storing managing and
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    controlling their data by following
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    their own protocols deciding which
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    service to use and where the servers are
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    located and using their own proprietary
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    software and security systems to protect
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    their data blockchain allows for
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    decentralized record keeping where data
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    is recorded stored and managed on a
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    network of computers with open source
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    software around the world any changes to
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    the blockchain protocol go through a
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    consensus process that no one person or
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    entity has control over so that is the
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    essence of the decentralization pillar
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    cool pillar two transparency the word
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    transparency with regard to blockchain
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    relates to the way in which transactions
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    are recorded on a ledger that is
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    available for everyone to see and that
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    is saved on a network of computers
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    around the world making the data
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    impossible to change or alter so the
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    best way to see the value of
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    transparency and data recording storage
  • 00:02:25
    and management is by comparing these two
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    scenarios one currently common citizens
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    of the United States are not privy to
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    where and how every tax dollar is spent
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    by the United States government we just
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    have to take their word for it and even
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    if the government had to show us their
  • 00:02:40
    records it would be very easy for them
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    to create Forge or manipulate any data
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    they chose to share with us since they
  • 00:02:47
    control their own data you can see how
  • 00:02:50
    this scenario has not exactly
  • 00:02:51
    transparent or trustworthy so let's
  • 00:02:53
    imagine another scenario if everyone in
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    the United States had the ability to see
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    a live running Ledger of wherever every
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    single tax dollar was spent by the
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    United States government at any moment
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    in time basically all U.S citizens could
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    see a full disclosure of how the
  • 00:03:08
    government is managing our money and in
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    this scenario there is more trust and
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    transparency the second pillar of
  • 00:03:14
    blockchain Technology nice pillar three
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    immutability immutability simply means
  • 00:03:20
    that the data recorded and stored on the
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    blockchain cannot be changed forged or
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    altered and this is achieved through
  • 00:03:26
    cryptography and blockchain hashing
  • 00:03:28
    processes if you would like to watch a
  • 00:03:30
    more in-depth video explaining what
  • 00:03:31
    blockchain is and why it was developed
  • 00:03:33
    please check out my video guide by
  • 00:03:35
    clicking in the link above so to
  • 00:03:36
    summarize the three pillars of
  • 00:03:38
    blockchain Technology blockchain's
  • 00:03:39
    recording and storage protocols make it
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    such that once new data is verified it
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    is unmodifiable it's distributed across
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    a vast network of computers around the
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    world so it's hard to destroy and no one
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    person or entity controls the data or
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    network creating a transparent
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    environment amazing now that we are
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    familiar with some of blockchain's
  • 00:03:59
    important features let's talk about the
  • 00:04:01
    role blockchain plays in Bitcoin and
  • 00:04:04
    ethereum hello I'm crypto Casey and in
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    this video we will explore what ethereum
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    is what ether is how transaction fees
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    work and what the future holds for this
  • 00:04:12
    exciting new speculative technology
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    let's hit it
  • 00:04:16
    [Music]
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    like tangent wallet it's the size of a
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    to set up and use on the market right
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    pre-order one to get your spot in line
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    for the next batch of wallets scroll
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    down and use links below to access the
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    correct and official sites as well as
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    redeem any special offers they have for
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    us sweet Bitcoin and ethereum are both
  • 00:05:03
    use cases of blockchain Technology with
  • 00:05:05
    different purposes Bitcoin is simply a
  • 00:05:08
    digital currency that people can use as
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    a form of payment to send to and from
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    each other or hold as a store of value
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    while ethereum is basically a
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    programmable blockchain that people can
  • 00:05:18
    build software on to create valuable
  • 00:05:21
    products and services or just for fun
  • 00:05:22
    Imagine the ethereum network similar to
  • 00:05:25
    the Apple App Store a platform where
  • 00:05:27
    people can build and deploy apps and due
  • 00:05:30
    to the decentralized properties of
  • 00:05:31
    blockchain Technology the software
  • 00:05:33
    people can build on ethereum are called
  • 00:05:36
    decentralized applications or dapped for
  • 00:05:39
    short in the nature and potential of
  • 00:05:41
    these decentralized applications or
  • 00:05:42
    dapps has inspired the idea and desire
  • 00:05:45
    for a crusade towards decentralized
  • 00:05:48
    Finance or D5 for short the D5 movement
  • 00:05:51
    aims to transform The Current financial
  • 00:05:52
    system into a more transparent and
  • 00:05:55
    trustworthy system like we discussed
  • 00:05:57
    about the scenario in the transparency
  • 00:05:59
    blockchain pillar segment so how is
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    ethereum's blockchain based software
  • 00:06:02
    application able to operate if it's not
  • 00:06:04
    owned or controlled by a central entity
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    or authority this leads us to the next
  • 00:06:09
    section what is ether
  • 00:06:11
    many people commonly use the word ether
  • 00:06:13
    in ethereum interchangeably when they
  • 00:06:16
    actually represent two different things
  • 00:06:17
    ether is the ethereum blockchains native
  • 00:06:20
    cryptocurrency it operates similarly to
  • 00:06:22
    Bitcoin in that it's a digital currency
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    that can be transferred to people all
  • 00:06:26
    around the world used as a form of
  • 00:06:28
    payment or act as a store of value
  • 00:06:30
    however ether was created for an
  • 00:06:32
    entirely different purpose so why does
  • 00:06:34
    ether exist in previous videos we
  • 00:06:36
    explore the similarities between Bitcoin
  • 00:06:38
    and gold so if Bitcoin is digital gold
  • 00:06:41
    ether could be described as digital oil
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    ether was designed with the intention of
  • 00:06:46
    fueling the ethereum network thinking
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    back to the decentralized pillar of
  • 00:06:50
    blockchain Technology we discussed how
  • 00:06:52
    open source software is distributed
  • 00:06:54
    across a vast network of computers
  • 00:06:56
    around the world so to incentivize
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    people to host and maintain the data on
  • 00:07:01
    The blockchain Ether was created as a
  • 00:07:03
    form of payment to fuel the ethereum
  • 00:07:05
    network so anyone who wants to build a
  • 00:07:07
    software application on the ethereum
  • 00:07:09
    network has to pay for the computing
  • 00:07:10
    power and space required using ether and
  • 00:07:14
    the amount of ether required for Network
  • 00:07:16
    fees is determined by a built-in pricing
  • 00:07:19
    system known as gas other key
  • 00:07:21
    differences between Bitcoin and ether is
  • 00:07:23
    that Bitcoin has a fixed Supply and
  • 00:07:25
    having events while ether Works
  • 00:07:28
    differently and is actually deflationary
  • 00:07:30
    see bitcoin's fixed price and having
  • 00:07:32
    events keep its rate of inflation low
  • 00:07:34
    and predictable over time until it
  • 00:07:36
    eventually reaches zero and if you want
  • 00:07:38
    to learn more about how Bitcoin halvings
  • 00:07:40
    work check out this video guide for
  • 00:07:41
    beginners by clicking on the link above
  • 00:07:43
    since its Inception back in 2015
  • 00:07:45
    ethereum has gone through a series of
  • 00:07:47
    changes and upgrades and at the time of
  • 00:07:49
    this video the amount of new eth
  • 00:07:51
    entering into circulation slows over
  • 00:07:54
    time so while Bitcoin is slightly
  • 00:07:56
    inflationary as more Bitcoin will
  • 00:07:58
    continue to enter into circulation until
  • 00:08:00
    the last Bitcoin is mined ether is
  • 00:08:02
    actually deflationary because less ether
  • 00:08:04
    will enter into circulation over time
  • 00:08:06
    because the more the network is used the
  • 00:08:09
    more ether that is burned or taken out
  • 00:08:11
    of circulation and if we check out this
  • 00:08:13
    free informative website at
  • 00:08:15
    ultrasound.money we can see how much eth
  • 00:08:17
    has been issued versus burned over time
  • 00:08:19
    so at the time of this video over the
  • 00:08:22
    past year the supply growth of eth is
  • 00:08:24
    negative and when we consider how supply
  • 00:08:26
    and demand of an asset affects its price
  • 00:08:28
    if the supply beef continues to go down
  • 00:08:31
    while demand for Eid continues to go up
  • 00:08:33
    with more people adopting crypto and big
  • 00:08:36
    traditional financial institutions
  • 00:08:37
    piling in the price of eth is likely
  • 00:08:40
    going to increase substantially over
  • 00:08:41
    time
  • 00:08:42
    bullish next let's talk about how
  • 00:08:45
    ethereum Network fees are calculated
  • 00:08:46
    what is gas gas considers the bandwidth
  • 00:08:50
    and space requirements as well as the
  • 00:08:52
    computational difficulty of each
  • 00:08:54
    transaction to calculate the amount of
  • 00:08:56
    fees it will take to complete the term
  • 00:08:58
    gas was created to differentiate the
  • 00:09:01
    cost of Performing transactions on
  • 00:09:02
    ethereum from the actual value of The
  • 00:09:05
    Ether cryptocurrency so in executing
  • 00:09:07
    transactions on ethereum we will see gas
  • 00:09:10
    prices denoted in guay which stands for
  • 00:09:13
    gigaway gigaway which is also referred
  • 00:09:16
    to as Nano ether or just Nano simply
  • 00:09:19
    represents a fraction of ether to the
  • 00:09:21
    ninth power so we can think of gateways
  • 00:09:24
    to ether as pennies to the US dollar
  • 00:09:26
    similar to how the US dollar has pennies
  • 00:09:28
    nickels dimes and quarters that
  • 00:09:30
    represent fractions of one US dollar
  • 00:09:32
    ether has multiple denominations of
  • 00:09:35
    fractional values the smallest
  • 00:09:37
    denomination being way here's a chart
  • 00:09:39
    showing all the different denominations
  • 00:09:41
    of ether so if we look at one giga way
  • 00:09:43
    of ether it's depicted as a decimal
  • 00:09:46
    point followed by eight zeros and a one
  • 00:09:49
    in the ninth place so you can see how it
  • 00:09:51
    would be difficult to determine how much
  • 00:09:52
    transaction fees will cost with all of
  • 00:09:54
    the decimal places so instead of a gas
  • 00:09:57
    price for the transaction being let's
  • 00:09:59
    say
  • 00:10:00
    0.0003 you can simply say three Giga way
  • 00:10:03
    and since the most common unit of ether
  • 00:10:05
    reflected in gas prices is gigaway
  • 00:10:07
    that's what denomination of ether is
  • 00:10:10
    used to represent gas prices so when
  • 00:10:12
    initiating a transaction on the ethereum
  • 00:10:14
    network you will see what's called a gas
  • 00:10:16
    limit in this field we can choose to
  • 00:10:18
    increase or decrease the amount of ether
  • 00:10:20
    we are willing to spend to complete the
  • 00:10:22
    transaction the more gas the faster the
  • 00:10:24
    transaction will be processed and if
  • 00:10:26
    there is not enough ether in our wallet
  • 00:10:28
    or account to complete the transaction
  • 00:10:30
    we desire we will receive an
  • 00:10:32
    insufficient funds for gas notification
  • 00:10:34
    or similar this is why it's so important
  • 00:10:36
    as crypto investors to be aware of
  • 00:10:38
    transaction fees and how they work so we
  • 00:10:41
    are always prepared when trans acting
  • 00:10:43
    and carrying out our investment and
  • 00:10:45
    training strategies cool moving right
  • 00:10:47
    along
  • 00:10:48
    proof of stake what is proof of stake
  • 00:10:50
    currently Network processes on ethereum
  • 00:10:53
    are completed by validators using a
  • 00:10:56
    proof of stake protocol which is a
  • 00:10:58
    consensus mechanism and a consensus
  • 00:11:00
    mechanism is simply a way that all
  • 00:11:03
    computers within a network can come to
  • 00:11:05
    an agreement on things like the validity
  • 00:11:07
    of a transaction we can see how
  • 00:11:09
    consensus mechanisms are a key aspect of
  • 00:11:11
    blockchain Technology's Foundation
  • 00:11:13
    because of multiple computers all around
  • 00:11:15
    the world are maintaining a Global
  • 00:11:17
    Network then a consensus mechanism that
  • 00:11:19
    keeps them all in agreement is extremely
  • 00:11:21
    crucial computers that participate in
  • 00:11:23
    the proof of stake consensus are known
  • 00:11:25
    as validators and proof of stake
  • 00:11:27
    requires validators to State
  • 00:11:28
    cryptocurrency on the network basically
  • 00:11:31
    as a form of collateral staking with
  • 00:11:33
    regard to cryptocurrency Simply means
  • 00:11:36
    holding cryptocurrency in a wallet or
  • 00:11:38
    smart contract for an extended period of
  • 00:11:40
    time in exchange for interest Rewards or
  • 00:11:43
    similar so the proof of stake algorithm
  • 00:11:45
    that selects which validators will
  • 00:11:47
    verify the next block can consider
  • 00:11:49
    variables like the amount of
  • 00:11:51
    cryptocurrency the validator has stated
  • 00:11:52
    on the network the amount of time the
  • 00:11:54
    cryptocurrency has been staked on the
  • 00:11:56
    network and it can randomly select
  • 00:11:58
    validators to ensure decentralization of
  • 00:12:01
    the validation process so in most cases
  • 00:12:03
    the more cryptocurrency a particular
  • 00:12:05
    validator has staked and the longer the
  • 00:12:07
    cryptocurrency has been staked the more
  • 00:12:10
    likely that validator will be selected
  • 00:12:12
    by the algorithm to validate blocks and
  • 00:12:14
    if the block the validator verifies is
  • 00:12:16
    approved by the rest of the network and
  • 00:12:18
    ultimately add it to the blockchain then
  • 00:12:20
    the validator earns a reward for
  • 00:12:22
    verifying the Block in proof of stake
  • 00:12:24
    people describe a newly verified block
  • 00:12:26
    being added to the blockchain as having
  • 00:12:29
    been forged by the validator as opposed
  • 00:12:31
    to mined by The Miner like in the case
  • 00:12:33
    of Bitcoin however if the block proposed
  • 00:12:36
    to the network has some inconsistencies
  • 00:12:38
    or fraudulent transactions the validator
  • 00:12:40
    is penalized by losing some of their
  • 00:12:42
    staked cryptocurrency so we can start to
  • 00:12:45
    see how proof of stake's virtual
  • 00:12:46
    verification process is much more more
  • 00:12:48
    energy efficient than proof of work
  • 00:12:50
    where computers use a lot of electricity
  • 00:12:52
    to compete with each other to be the
  • 00:12:54
    first to verify a block of data and it's
  • 00:12:57
    important to note that each blockchain
  • 00:12:58
    project that uses proof-of-stake
  • 00:13:00
    protocols has their own unique algorithm
  • 00:13:02
    with different rules and methods that
  • 00:13:05
    dictate their particular Network's
  • 00:13:06
    functionality it's interesting to know
  • 00:13:08
    that ethereum used to use a proof of
  • 00:13:11
    work protocol like Bitcoin to secure and
  • 00:13:13
    maintain its Network and unfortunately
  • 00:13:15
    since the switch to proof of stake SEC
  • 00:13:17
    chair Gary Gensler says proof-of-stake
  • 00:13:20
    assets could be Securities and as we've
  • 00:13:22
    been discussing on the channel it's
  • 00:13:24
    likely that Gensler is withholding
  • 00:13:25
    Clarity and crypto to allow for his Wall
  • 00:13:28
    Street corporate cronies to get into a
  • 00:13:30
    position to be the first to Market with
  • 00:13:32
    their ETFs and other Financial products
  • 00:13:34
    before finally giving green light we
  • 00:13:36
    shall see though let me know what you
  • 00:13:38
    think in the comments below cool now
  • 00:13:40
    that we have a basic concept of what
  • 00:13:41
    ethereum is in the roles ether and gas
  • 00:13:44
    play in the network let's get into more
  • 00:13:46
    detail about how the ethereum software
  • 00:13:48
    our platform Works how the ethereum
  • 00:13:50
    network works let's break down the
  • 00:13:52
    ethereum network into three simple
  • 00:13:54
    layers so that we can understand how it
  • 00:13:56
    works in a nutshell conceptually imagine
  • 00:13:58
    the base layer of ethereum consists of a
  • 00:14:01
    vast network of computers called nodes
  • 00:14:03
    these nodes are connected to the
  • 00:14:05
    internet with software installed on them
  • 00:14:06
    that runs the ethereum blockchain in
  • 00:14:09
    this base layer of nodes is where
  • 00:14:11
    transaction data is processed validated
  • 00:14:14
    broadcasted and stored and as these
  • 00:14:16
    nodes use the proof of stake protocol
  • 00:14:18
    required to process transaction data
  • 00:14:20
    they are rewarded with ether dictated by
  • 00:14:23
    the gas prices we discussed earlier
  • 00:14:25
    these rewards incentivize nodes to
  • 00:14:27
    maintain the ethereum network by
  • 00:14:29
    processing transaction data transaction
  • 00:14:32
    data can contain value in the form of
  • 00:14:34
    ether and information in the form of
  • 00:14:36
    code and these codes can transmit data
  • 00:14:39
    and Trigger actions in the next layer of
  • 00:14:41
    the ethereum network now imagine another
  • 00:14:44
    layer on top of the Base Hardware layer
  • 00:14:46
    that is a software layer this soft
  • 00:14:48
    software layer supports a programming
  • 00:14:50
    language library that consists of
  • 00:14:51
    languages like solidity Viper bamboo and
  • 00:14:54
    more using these computer languages
  • 00:14:56
    developers can write what are called
  • 00:14:58
    smart contracts the term smart contract
  • 00:15:00
    was actually coined back in 1998 by an
  • 00:15:03
    American Computer scientist named Nick
  • 00:15:05
    Zabo who invented the digital currency
  • 00:15:08
    called bit gold 10 years before Bitcoin
  • 00:15:10
    was created and smart contracts are just
  • 00:15:12
    lines of code that dictate the terms of
  • 00:15:14
    a contract and control the execution of
  • 00:15:16
    the contract and with the nature of
  • 00:15:18
    ethereum's Hardware layer in its
  • 00:15:20
    blockchain based software this creates
  • 00:15:22
    the perfect trustworthy digital
  • 00:15:23
    environment for building and executing
  • 00:15:25
    smart contracts smart contracts have the
  • 00:15:28
    unique ability to authorize transactions
  • 00:15:30
    and Carry Out terms of contracts within
  • 00:15:32
    a trusted environment which eliminates
  • 00:15:34
    the need for a central Authority like a
  • 00:15:36
    government bank or legal system so smart
  • 00:15:38
    contracts make transactions trackable
  • 00:15:40
    transparent and permanent amazing so we
  • 00:15:44
    have the hardware layer and the software
  • 00:15:45
    layer of ethereum which combined
  • 00:15:47
    basically creates a global decentralized
  • 00:15:50
    supercomputer known as the ethereum
  • 00:15:53
    virtual machine or evm in Computing
  • 00:15:56
    virtual machines or VMS are simulations
  • 00:15:59
    of computer networks that can be used
  • 00:16:01
    for many different cases in the case of
  • 00:16:03
    the ethereum virtual machine or evm a
  • 00:16:06
    very basic and general idea of its role
  • 00:16:08
    in the ecosystem is to improve
  • 00:16:10
    flexibility of the software and ensure
  • 00:16:13
    separation of each software host and
  • 00:16:15
    each software application and software
  • 00:16:17
    applications bring us to the final layer
  • 00:16:19
    of ethereum the application layer the
  • 00:16:22
    application layer is where developers
  • 00:16:23
    can build and launch third-party
  • 00:16:25
    decentralized applications or dapps for
  • 00:16:28
    short the applications are decentralized
  • 00:16:30
    because they operate on ethereum's
  • 00:16:32
    decentralized blockchain-based platform
  • 00:16:34
    popular examples of adapts that have
  • 00:16:36
    been created are uni swap which is a
  • 00:16:38
    decentralized crypto exchange and openc
  • 00:16:40
    an nft Marketplace and at the time of
  • 00:16:43
    this video a total of over 2800 adapts
  • 00:16:46
    are running on the ethereum network that
  • 00:16:48
    cover a wide range of categories
  • 00:16:50
    including gaming exchanges lending yield
  • 00:16:53
    identity property and more nice now
  • 00:16:56
    another popular element of the ethereum
  • 00:16:58
    ecosystem in dapps brings us to the next
  • 00:17:00
    section what are erc20 tokens you've
  • 00:17:04
    probably heard the term erc20b4 and
  • 00:17:06
    before we talk about erc20 let's talk
  • 00:17:09
    about what ERC means ERC is simply an
  • 00:17:12
    acronym that stands for ethereum request
  • 00:17:14
    for comments and it's similar to bip
  • 00:17:16
    which stands for Bitcoin Improvement
  • 00:17:18
    proposal so since ethereum and Bitcoin
  • 00:17:21
    are blockchain based Technologies there
  • 00:17:23
    is no one person or entity that is in
  • 00:17:25
    charge of deciding what new features to
  • 00:17:27
    add changes to make or fixes to
  • 00:17:29
    implement to the protocols so ERC is a
  • 00:17:32
    process that was created as a way for
  • 00:17:34
    people to contribute information about
  • 00:17:36
    ethereum and introduce new features to
  • 00:17:39
    the ethereum network ercs or ethereum
  • 00:17:42
    requests for comments are basically how
  • 00:17:44
    developers can propose improvements to
  • 00:17:46
    the network so the number 20 of erc20
  • 00:17:49
    represents the unique ID number of that
  • 00:17:52
    particular proposal so erc20 is a token
  • 00:17:55
    standard which is simply a list of rules
  • 00:17:57
    that any tokens issued on the ethereum
  • 00:17:59
    blockchain must follow so what are
  • 00:18:02
    tokens in the context of ethereum tokens
  • 00:18:04
    are types of cryptocurrencies with
  • 00:18:07
    different functions that represent an
  • 00:18:09
    asset or are intended for a specific use
  • 00:18:11
    that operate on the ethereum blockchain
  • 00:18:14
    so the ethereum ecosystem allows for the
  • 00:18:16
    creation deployment and circulation of
  • 00:18:19
    virtual currencies or tokens an erc20
  • 00:18:22
    proposed the implementation of rules and
  • 00:18:25
    regulations developers must follow when
  • 00:18:27
    creating tokens to issue on the ethereum
  • 00:18:29
    network these rules dictate how tokens
  • 00:18:31
    can be transferred transaction approval
  • 00:18:34
    methods user access to tokens and the
  • 00:18:36
    total Supply or number of tokens
  • 00:18:38
    available so erc20 basically ensures
  • 00:18:41
    compatibility of new tokens issued on
  • 00:18:44
    the ethereum network tokens that
  • 00:18:46
    currently run on the ethereum blockchain
  • 00:18:48
    are referred to as erc20 tokens
  • 00:18:50
    currently over 350 000 different tokens
  • 00:18:52
    have been issued on the ethereum network
  • 00:18:54
    some of the more popular erc20 tokens
  • 00:18:57
    include tether chain link Matic and Udi
  • 00:19:00
    Swap and each token has a different
  • 00:19:02
    function or utility for example tether
  • 00:19:05
    is a token that is Tethered to the US
  • 00:19:07
    dollar and that it maintains the same
  • 00:19:09
    value as the US dollar this makes the
  • 00:19:12
    token price stable staying at one dollar
  • 00:19:14
    per tether which is why tokens with this
  • 00:19:16
    function are called stable coins and
  • 00:19:19
    another example of another token with
  • 00:19:21
    different utility is bat bat stands for
  • 00:19:23
    basic attention token and it was created
  • 00:19:26
    to be used as the currency for a web
  • 00:19:28
    browsing dab called Brave that was
  • 00:19:30
    designed as a form of payment to be
  • 00:19:32
    traded between users advertisers and
  • 00:19:34
    Publishers in exchange for users
  • 00:19:36
    attention to advertisements and content
  • 00:19:39
    amazing so it's important to understand
  • 00:19:42
    as crypto investors that ethereum is
  • 00:19:44
    still new speculative technology that is
  • 00:19:47
    still in the development phase where
  • 00:19:49
    they constantly evolving road map
  • 00:19:51
    changes on the horizon are aimed at
  • 00:19:53
    making transactions cheaper making the
  • 00:19:55
    network more secure creating a better
  • 00:19:57
    user experience and readying the network
  • 00:19:59
    for future Generations so if you haven't
  • 00:20:02
    dipped your toes into crypto and are
  • 00:20:03
    interested in diversifying your
  • 00:20:05
    Investment Portfolio into eth you can
  • 00:20:07
    use the links in the description area
  • 00:20:08
    below to access the correct and official
  • 00:20:10
    sites of my recommended reputable crypto
  • 00:20:13
    exchanges like coinbase Kraken and more
  • 00:20:16
    and make sure when we are investing in
  • 00:20:18
    crypto we are transferring them off of
  • 00:20:20
    exchanges to hold in our own Cold
  • 00:20:22
    Storage Hardware wallets like tangent
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    wallet tangent wall is extremely simple
  • 00:20:26
    and easy to set up literally just taking
  • 00:20:28
    a few minutes and friends and family
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    I've onboarded into crypto love it there
  • 00:20:33
    is a wait for the next batch of wallets
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    so make sure to get your spawn line
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    earlier rather than later it looks like
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    a credit card uses the highest standard
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    of security among crypto wallets known
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    as eal 6 Plus which is a level of
  • 00:20:45
    protection used by NASA and in passports
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    the source code for tangem's mobile app
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    is all open and available for review on
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    GitHub which is important for full
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    transparency to ensure there are no back
  • 00:20:56
    doors built in and that funds can be
  • 00:20:59
    accessed if the company shut down for
  • 00:21:01
    any reason instead of a seed phrase as
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    the only way to back up our crypto
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    wallets backup copies of the wallet are
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    created and used on other tantrum cards
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    that we equipped with our own unique
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    access code we create for each card also
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    note the pricing for this cryptocurrency
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    with a simple easy to use secure
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    well as redeem any special offers they
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  • 00:21:41
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    phrases work check out this video if you
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    would finally like to have that Eureka
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    moment about how Bitcoin works and why
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    it can help us maintain complete control
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    over some of our wealth check out this
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Tags
  • Ethereum
  • Bitcoin
  • Blockchain
  • Dezentralisierung
  • Ether
  • Smart Contracts
  • Proof of Stake
  • Gas
  • ERC20
  • Transparenz