Skip to content

Commit

Permalink
Enhance Ethereum documentation with detailed explanations, comparison…
Browse files Browse the repository at this point in the history
…s, and updates
  • Loading branch information
boundless-forest committed Jan 2, 2025
1 parent 20baaac commit ed36f83
Show file tree
Hide file tree
Showing 4 changed files with 40 additions and 4 deletions.
3 changes: 3 additions & 0 deletions cards/Ethereum Yellow Paper.md
Original file line number Diff line number Diff line change
@@ -0,0 +1,3 @@
#explain-card

The [Ethereum Yellow Paper](https://ethereum.github.io/yellowpaper/paper.pdf) is the formal technical specification of the Ethereum protocol. It defines the blockchain's architecture, the Ethereum Virtual Machine (EVM), and the rules for smart contract execution. It serves as a reference for researchers, developers, and anyone looking to understand Ethereum at a deeper level.
33 changes: 30 additions & 3 deletions cards/Ethereum.md
Original file line number Diff line number Diff line change
Expand Up @@ -2,12 +2,39 @@

## Introduction

## Service Provided
Ethereum is a decentralized, open-source blockchain platform that enables the creation and deployment of smart contracts and decentralized applications (dApps). Launched in 2015 by [[Vitalik Buterin]] and team, it was the first blockchain to introduce programmable [[Smart Contract]]s. The platform's native cryptocurrency is Ether (ETH), which is used for transaction fees, staking, and as a store of value. Ethereum underwent a major upgrade in 2022 called "The Merge," transitioning from Proof-of-Work to Proof-of-Stake consensus mechanism, significantly reducing its energy consumption.

## Technical Details

### Ethereum Virtual Machine (EVM)

The Ethereum Virtual Machine ([[EVM]]) is the runtime environment for executing transactions and smart contracts on the Ethereum network. It is stack-based, with instructions for managing memory, inspecting remaining gas, accessing current block data, and retrieving transaction details. This deterministic design ensures nodes converge on the same final state, enabling network consensus. Formally defined in the [[Ethereum Yellow Paper]], the EVM has been implemented in various programming languages, making Ethereum widely accessible for developers.

### Accounts Design
Ethereum supports two types of accounts:

• Externally Owned Accounts (EOAs): Governed by private keys, they allow users to create and sign transactions.
• Contract Accounts: Controlled by on-chain code, they hold an ether balance and execute code whenever they receive a transaction or message. Through this code, they can update storage, send messages, or create new contracts.

## Social Media

## Team
- **Website**: [ethereum.org](https://ethereum.org)
- **GitHub**: [ethereum](https://github.com/ethereum)
- **Twitter**: [@ethereum](https://twitter.com/ethereum)
- **Reddit**: [r/ethereum](https://reddit.com/r/ethereum)
- **Discord**: [Ethereum](https://discord.com/invite/CetY6Y4)

## Ethereum Vs Bitcoin

While both are pioneering blockchain networks, Ethereum and Bitcoin serve fundamentally different purposes. Bitcoin primarily functions as a digital currency and store of value, whereas Ethereum serves as a programmable platform for smart contracts and decentralized applications.

In terms of technical implementation, Bitcoin operates using [[proof of work]], while Ethereum has transitioned to [[Proof of stake]], making it more energy-efficient. Their supply models also differ significantly: Bitcoin has a fixed supply cap of 21 million coins, while Ethereum maintains an unlimited supply, currently around 120 million ETH. The networks handle transaction fees differently. Bitcoin's fees are paid to miners, while Ethereum's gas fees are burned by the network. Their development philosophies also contrast sharply. Bitcoin follows a conservative approach prioritizing stability, while Ethereum embraces rapid innovation with frequent protocol upgrades. Regarding processing and scalability, Bitcoin focuses on secure, simple transactions, while Ethereum is designed to handle complex smart contract operations and dApp interactions, making it more versatile but also more complex.

## Latest Updates

## Latest Updates
- 2022: Ethereum has shifted from PoW( Proof-of-Work ) to PoS( Proof-of-State ) consensus mechanism, which is also known as Ethereum Merge. It has reduced Ethereum’s energy consumption by ~ 99.95%.
- 2021: a major network upgrade named London included Ethereum improvement proposal 1559 and introduced a mechanism for reducing transaction fee volatility.
- 2018: Ethereum took second place in Bitcoin in terms of market capitalization.
- 2015: Ethereum created its genesis block marking the official launch of the platform.
- 2014: EVM was specified in a paper by Gavin Wood, and the formal development of the software also began.
- 2013: Ethereum was first described in Vitalik Buterin’s white paper in 2013 with the goal of developing decentralized applications.
3 changes: 2 additions & 1 deletion cards/Proof of work.md
Original file line number Diff line number Diff line change
@@ -1,3 +1,4 @@
#explain-card
#explain-card

>[!todo]
> update this card
5 changes: 5 additions & 0 deletions cards/Vitalik Buterin.md
Original file line number Diff line number Diff line change
@@ -0,0 +1,5 @@
#show-card
## Vitalik Buterin

Vitalik Buterin is known as a co-founder of Ethereum. He blogs at https://vitalik.eth.limo/ and shares updates on X at [@VitalikButerin](https://x.com/VitalikButerin).

0 comments on commit ed36f83

Please sign in to comment.