Ethereum ETH White Paper

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Hello and welcome to this blog post about Ethereum White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.

There is a lot to learn about this futuristic tech, lets get started to dive into the Ethereum ETH white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.

The aim of this blog post is to help you quickly understand about the philosophy behind the Ethereum (ETH).

I can ensue you that, you will be able to understand every bits and pieces related to Ethereum (ETH) after going through the Ethereum ETH white paper.

Without wasting any further time lets get started to dive right in and lets understand white paper first.

What is white paper?

A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.

A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.

Ethereum ETH White Paper

Ethereum ETH white paper will be going to provide you, all the information that is needed to get started with Ethereum (ETH), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Ethereum (ETH).

Ethereum was proposed by Vitalik Buterin, by publishing the Ethereum white paper in late 2013. Ethereum is an open-source, decentralized, and distributed computing network that allows the development of smart contracts based decentralized applications known as dapps.

“Smart Contracts are applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference.”

Ethereum is Turning complete and uses a cryptocurrency “Ether” to support the network.

Ethereum is a global, open-access infrastructure that has no central control, that allows the creation of applications where users can own and control their data, that allows everyone to have access to an open financial system.

Abstract

The intent of Ethereum is to merge together and improve upon the concepts of scripting, altcoins and on-chain meta-protocols, and allow developers to create arbitrary consensus-based applications that have the scalability, standardization, feature-completeness, ease of development and interoperability offered by these different paradigms all at the same time.

Ethereum does this by building what is essentially the ultimate abstract foundational layer: a blockchain with a built-in Turing-complete programming language, allowing anyone to write smart contracts and decentralized applications where they can create their own arbitrary rules for ownership, transaction formats and state transition functions.

A bare-bones version of Namecoin can be written in two lines of code, and other protocols like currencies and reputation systems can be built in under
twenty.

Smart contracts, cryptographic “boxes” that contain value and only unlock it if certain conditions are met, can also be built on top of our platform, with vastly more power than that offered by Bitcoin scripting because of the added powers of Turing-completeness, value-awareness, blockchain-awareness and state.

White Paper Link: Ethereum ETH White paper

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