Understanding Ethereum Light Node

What is Ethereum light node? Ethereum light node protocol is big step towards bringing the Ethereum client to small devices with limited hardware resources. Details of light client protocol can be found at GitHub. Go-Ethereum or Geth 1.8.1 has an experimental implementation of light protocol. Lets have a look in detail. Installing Geth First you need to install geth. You can follow the instruction here about geth installation. $geth version Geth Version: 1....

What is Ethereum? | The Ultimate Beginners’ Guide

With the second largest market cap in the cryptocurrency world, Ethereum has drawn a lot of attention from investors and crypto enthusiasts alike. This relatively new cryptocurrency not only presents a significant change to the status quo, it also allows for the quick development and deployment of new applications. Ethereum essentially enables dozens of new and extremely innovative cryptocurrencies to exist. While Ethereum’s utility is obvious to programmers and the tech world at large,...

Understanding the concept of Private Key, Public Key and Address in Ethereum Blockchain

Before we get deeper into the concept of Ethereum Blockchain, it is important to understand how Public Key, Private Key and Address are generated. To make this easier for beginners, I am trying to explain the technical concept with an example. Ethereum key generation is based on elliptical curve ecp256k1. Eliptical curve (EC) is intense mathematics, and there are a lot of great articles on internet covering deep details of elliptical curve. There are standard...

Certificate on IPFS and Ethereum

We are going through a very exciting phase of technological transformation. Blockchain community is re-designing a lot of existing use cases and trying to solve a lot of unsolved use cases with the help of decentralized, peer-to-peer technology. Certificate generation and verification is one of the uses cases which is being attempted to be gracefully handled by blockchain. Here is one of the possible approach using Ethereum and IPFS. Step 1: Every certificate issuer is...

Introduction to Byzantium and Constantinople

In recent days, with various articles at EtherWorld, we've already covered - Metropolis: Ethereum Hardfork, Introduction to Byzantium. Let us quickly drive into another section, exploring more about the phases of Metropolis. Ethereum's next planned phase Metropolis is a case study into the multidisciplinary, dynamic, inner workings of how the decentralized application platform functions. Ethereum’s developers informed the world regarding the upcoming changes to the Ethereum ecosystem, which is the next milestone release for...

Hyperledger Blockchain vs. Ethereum Blockchain

Hyperledger – a Linux foundation project: Hyperledger, a Linux Foundation project, is an open source community to help advance technology and thought leadership. It was originated from IT majors like IBM and Intel who saw the benefits of Blockchain technology in Bitcoin. They didn’t wanted it to be used for financial transactions, so, forced them to develop their own software. Since doing it separately would be a waste of resources, these companies centralized their software...

INTRODUCTION TO IPFS

Distributed. Hypermedia. Content-addressable. Identities. Permanent Web. These are a few terms that seem to get thrown around a lot these days when people talk about upcoming web technologies. If you too are confused like the majority of us, then here is the guide that will take you through each of these terms and explain how and why we need them. Let’s explore… IPFS IPFS stands for Inter Planetary File System. What is IPFS? It...

STORJ – Decentralized Cloud Storage

Introduction STORJ is the encrypted cloud storage project based on blockchain technology. It is an open source storage platform where data is not centralized, monitored, or have downtime. It is the first decentralized, end-to-end encrypted cloud storage. Storj is one of the most secured, cheap and fastest cloud available. Each file is sharded and encrypted before being sent out to the hard drive space across the network. It is secured because the key to decrypt...

Proof of Work (POW)

Proof of Work Existing Blockchain technology is working on the core concept of 'Proof Of Work' (POW). A proof-of-work (PoW) is a protocol that is difficult to compute but easy to verify. It can be verified in far less time than it took to compute in first place. The process involves scanning for a value that when hashed, (such as with SHA-256), the hash begins with a number of zero bits. The average work required...

Bitcoin Mining Block Reward (Halving)

Bitcoin has a unique mining block reward strategy. Each time a miner successfully solves Bitcoin’s proof of work algorithm, he is rewarded a set amount of bitcoins agreed upon by the network. The bitcoins included in the block reward are all new bitcoins. This is the only way that new bitcoins are created. At present Bitcoin reward is 12.5 BTC per block. When Bitcoin was created, Satoshi Nakamoto (creator of Bitcoin) set some...

zk-SNARKS in Ethereum

zk-SNARKS It is one of the hottest topics in cryptography over the last year. One major reason behind it being hot is Zcash launch. Zcash is a cryptocurrency, whose flagship feature is that it integrated zk-SNARKS (Zero Knowledge Succinct Non-Interactive Argument of Knowledge). General principles: As the title suggests, this is ultimate in privacy. It is about proving thing about encrypted data without revealing anything about the data except for the claim that you are...

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