BLOCKCHAIN

SUBJECT 2
KOUADIO KONAN JEAN PHILIPPE GUILLAUME
Sujet 2 : What is Blockchain (9 pts)

Ethereum is a blockchain that is free to

download, and has the ability to be
programmed, similar to a computer.........

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Ethereum is the second-largest cryptocurrency platform by market capitalization, behind
Bitcoin. It is a decentralized open source blockchain featuring smart contract functionality. Ether
is the cryptocurrency generated by Ethereum miners as a reward for computations performed to
secure the blockchain. Ethereum serves as the platform for over 260,000 different
cryptocurrencies including 47 of the top 100 cryptocurrencies by market capitalization
Ethereum provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM),
which can execute scripts using an international network of public nodes. The virtual machine's
instruction set, in contrast to others like Bitcoin Script, is Turing-complete. "Gas", an internal
transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.

09/17/2020
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and
programmer. Development was funded by an online crowdsale that took place between July and
August 2014.
In Ethereum all smart contracts are stored publicly on every node of the blockchain, which has
costs. Being a blockchain means it is secure by design and is an example of a distributed
computing system with high Byzantine fault tolerance. The downside is that performance issues
arise in that every node is calculating all the smart contracts in real time, resulting in lower
speeds. Ethereum is currently developing and planning to implement a series of upgrades called
Ethereum 2.0.Current specifications for Ethereum 2.0 include a transition to proof of stake and
an increase in transaction throughput using sharding technology.

09/17/2020