Tired of using the central point of failure that Infura is? Or you simply don’t want to pay 1000$/month to be able to inspect each block? Run an Ethereum full node!
The goal of this tutorial is to help you set up your node, configure the server and connect web3 to it through WebSocket, safely and securely.
It’s pretty simple. So let’s get started.
The biggest bottleneck of an Ethereum node is the disk I/O. This means you will need a good SSD of a decent size (at least 300gb). Don’t even try to sync on an HDD, it won’t…
What was the impetus for developing Ether and the Ethereum Network, especially relative to Bitcoin?
Vitalik’s proposition to add Turing Complete smart contracts to Bitcoin was rejected on the basis that it would increase the attack surface on the network, and was unnecessary (you can build most of those contracts off-chain, based on the smart contracts capability already available in Bitcoin), so he decided with a few other peoples to create Ethereum and raise money for it.
Ethereum was one of the first ICO in history (The very first was Mastercoin, now called Omni, in July 2013).
The Ethereum ICO…
Blockchains are the latest buzzword used to sell your company some bullshit technological solution. “It will change the world” as they say. But the truth is nobody uses the same definition of what a blockchain is. So let’s get off the hype train and start by recapitulating what those definitions are, and which one we are talking about in this article (spoiler alert: Bitcoin).
This is the definition “closest to the metal” where a blockchain is basically an ordered list of blocks (which is itself a list of transactions) where each block contains a cryptographic hash of the previous block…
Disclaimer: The code below is not safe. It’s a simple proof of concept. Do not use it in production.
The basic principle behind this is relatively simple. It’s the same that is used for payment/state channels:
2 participants lock funds into a contract that incentivize cooperation, but instead of signing proof-messages to exchange funds, participants sign a contract bytecode that they keep private.
If participants cooperate the contract is never revealed to any other party. Otherwise the contract must be revealed to be settled.
The contract where the funds are locked just need to be capable of deploying a contract…