What is Ethereum?

Stephen Grider
A free video tutorial from Stephen Grider
Engineering Architect
4.7 instructor rating • 30 courses • 926,703 students

Learn more from the full course

Ethereum and Solidity: The Complete Developer's Guide

Use Ethereum, Solidity, and Smart Contracts to build production-ready apps based on the blockchain

23:53:14 of on-demand video • Updated November 2021

  • Understand the why engineers would want to create an app with Ethereum
  • Build compelling blockchain applications using the Ethereum Blockchain
  • Design, test, and deploy secure Smart Contracts
  • Learn the true purpose and capabilities of Ethereum and Solidity
  • Use the latest version of Ethereum development tools (Web3 v1.0)
  • See practical examples to comprehend what the blockchain and mining are
English [Auto] We now have a better understanding of one of the original design goals of etherial, with that in mind, we're now going to continue and start talking about exactly what Ethereum is and how we work with it. This is going to be our first description of many of the Ethereum system. And I say the first of many, because this is going to be kind of a primitive basic description of a theorem. And as we go throughout the course, we're going to come back and address more and more complicated topics in the Ethereum ecosystem. So, again, this is our first taste and we're going to come back again and again and freshen up or kind of sharpen our understanding of different pieces of this puzzle. So let's take a look at this diagram right here. It's kind of a complicated diagram, but I want to focus on some of these notes. I have off to the right hand side. We're going to talk about each of these notes starting at the top and working our way down to the bottom. And I'm going to do my best not to just read the text on here. They're kind of prompts and I'm going to discuss further about each of them. So the first thing we need to understand is that when we work with the theorem, we are working with a network of computers. These networks are used to transfer money between different parties like you and me, and they're also used to store data. The transfer of money and the storage of data are what allows us to create interesting applications, which, remember, is the entire goal of etherial. The second thing to understand is that there are many different Ethereum networks. When you read about Ethereum in the news, you usually hear about, oh, the price of either coins is so-and-so dollars or you might hear about deploying apps to the theory and block chain or the entire network. In reality, there's one main Ethereum network that everyone uses for deployment of production applications, and it's where ether coins are actually worth US dollars or real money, I should say. However, there are many other Ethereum networks out there. There are test networks, so networks that are used solely for testing code and testing transactions. You can even create your own private Ethereum network on your own computer that is restricted to just you. Or you can make your own network and open it to other people as well. The point is that there's not just one Ethereum network out there. There's many. And even in this course, we will be creating our own little network. Next networks are formed by one or more notes. And this goes coupled with the next note on here. A node is a machine that is running an Ethereum client AC machine. I'm talking about a desktop or a laptop or any type of computer, really. So we take a node, we install some software on it, we run that software and then it connects to an Ethereum network and starts becoming a part of the network overall. All these networks connect, all these nodes connect together to form the actual network. Next, anyone can run a note, so there's not just some specific set of people out there or important companies who run nodes on the real Ethereum network, no, anyone can create one. You can create a node. I can create node. All we have to do is turn on our laptop, download this client software and run it. And boom, we have a locally hosted node. Each node that we create or I should say each node on the network has a full and separate copy of the block chain. We haven't talked about the block chain too much just yet, but that will be a huge topic of discussion throughout the course. So for right now, let me give you a very basic description of the block chain we're going to stay for right now that we can think of the block chain as being like a database that stores a record of every movement of money between different parties. And it's also where we store data. Again, the key thing to keep in mind here is that the block chain can be considered to be a simple database and nothing else. All right. So that's our first taste of what Nithari network is. Again, I just want to throw some of these very basic descriptions and definitions out there, and it's going to help ground us throughout the next task that we're going to go through. So let's pause right here. We're going to continue the next video and we're going to start getting our hands dirty in that next section. So I'll see you in just a minute.