[Part 1] Ethereum: all things you must know first

Trong Dinh Thai Hoang
Jul 1 · 2 min read

This is the 1st part of series which include 4 parts

  • Ethereum: all things you must know first
  • Ethereum: your first smart contract
  • Ethereum: deploy your smart contract
  • Ethereum: your first dApp

Why we need this part?

The first idea started in 2018 when my friend told me that he wanted to know how to develop a smart contract and he knew nothing about blockchain. And I was thinking about it should have a way for devs to know blockchain in general.

Overview:

Ethereum is a famous blockchain (behind Bitcoin) which was born in 2015. The market cap until today (Jul 1, 2019) is about 31.1 billion dollars.

  • Consensus: PoW (Proof of Work)
  • Miner: let’s imagine that miner is a computer run an Ethereum node. The main responsibility is finding the hash of a block of transactions.
  • Transaction: the processing average time of each transaction is 15 seconds. In order to see the status of the transaction, you can use Etherscan, Blockscout or Etherchain

Today there are many other blockchain networks Ethereum, but in general, you can understand it’s different about consensus and the time of transaction processing.

Other blockchains

Dev side:

  • Development environment: help you to create the local blockchain, wallet and test a smart contract before you launch on the main net.
  • Wallet: it’s something like the identity account on the blockchain.

To create a new wallet (or account) in Ethereum, Metamask is a popular wallet you need to know. For EOS, it is Scatter and TronLink for Tron network.

  • Library: we need it in order to connect with the blockchain. But it’s not enough, imagine the library is an adapter and you need to find the socket to plug in.

Ex: here is the code I use web3 library in Ethererum

https://rinkeby.infura.io/LLJy74SjotuIMxZJMUvf is the socket in this case.

Thx for reading the first part. Part 2 will be coming soon and remember to contact me at trongdinh@mroomsoft.com if there are any problems.

Trong Dinh Thai Hoang

Written by

I’m a peaceful person who wants to make friend with people around the world.

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade