How does Ethereum work?

Here are some basic functionalities:

DApp -> Smart contract -> Blockchain

DApp is set to do a task -> task is coded into smart contract -> smart contract executes a task and information about this transaction is written into Ethereum blockchain

Blockchain -> ETH

Every transaction that occurs on the Ethereum network requires using Ether (ETH) – Ethereum’s native cryptocurrency

ETH -> Wallet

ETH are stored in a wallet

Blockchain -> Node -> Client

Informations written on Ethereum blockchain are stored and maintained by many nodes -> each node runs compatible client software

Blockchain -> Mining -> ETH

Nodes (known as a miners) must verify transactions on a blockchain -> they are rewarded with a newly minted ETH

Blockchain -> Scaling Solutions

The projects working to build infrastructure and expand the capabilities of Ethereum are commonly referred to as scaling solutions

Blockchain -> Privacy

Privacy solutions provide data security in order of protection the anonymity of cryptocurrency users – all while maintaining the integrity of public ledger

Explore Ethereum

Resources

Ethereum Explained  – illustrated beginner’s guide
What is Ethereum?blockchain basics
Blockchain Super FAQfrequently asked questions about blockchain and Ethereum
How does Ethereum work, anyway?  – how it functions at a technical level, without complex math
Learn about Ethereumtechnical and non-technical articles, guides, and resources

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