Ethereum Whitepaper
Ethereum: A Next-Generation Smart Contract and Decentralized Application Platform. By Vitalik Buterin (2014)
The document discusses the foundational concepts and technological advancements of Bitcoin and Ethereum, focusing on decentralized digital currency, blockchain technology, and smart contracts. Overview of Bitcoin and Blockchain Technology
Bitcoin introduced decentralized currency and a proof of work-based blockchain for transaction consensus. The technology has evolved to support various applications beyond currency, including smart contracts and decentralized organizations.
History of Decentralized Digital Currency
The concept of decentralized digital currency has existed since the 1980s, with early protocols failing due to reliance on centralized intermediaries. Wei Dai’s b-money and Hal Finney’s reusable proofs of work were early attempts to create decentralized currency but lacked effective consensus mechanisms. Satoshi Nakamoto’s Bitcoin successfully combined decentralized consensus with proof of work, overcoming previous limitations and inspiring over 200 currencies and protocols.
The document discusses the foundational concepts and technological advancements of Bitcoin and Ethereum, focusing on decentralized digital currency, blockchain technology, and smart contracts. Overview of Bitcoin and Blockchain Technology
Bitcoin introduced decentralized currency and a proof of work-based blockchain for transaction consensus. The technology has evolved to support various applications beyond currency, including smart contracts and decentralized organizations.
History of Decentralized Digital Currency
The concept of decentralized digital currency has existed since the 1980s, with early protocols failing due to reliance on centralized intermediaries. Wei Dai’s b-money and Hal Finney’s reusable proofs of work were early attempts to create decentralized currency but lacked effective consensus mechanisms. Satoshi Nakamoto’s Bitcoin successfully combined decentralized consensus with proof of work, overcoming previous limitations and inspiring over 200 currencies and protocols.
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Ethereum is designed as a versatile platform for a wide range of applications beyond currency, including decentralized file storage and governance. Its Turing-complete programming language allows for the creation of complex contracts, enabling innovative solutions across various sectors. The open-ended nature of Ethereum positions it as a foundational layer for future decentralized applications and protocols.