Ever been curious about what ethereum is all about?
Yeah i would be too, i mean ethereum takes the lead right after bitcoin as the cryptocurrency with the largest market cap. (statistics are based on the time of writing this article)
A lot people know ethereum as just a cryptocurrency, but actually ether is the cryptocurrency that people mistake for ethereum, ethereum is actually a lot.
This article would take us on a ride of what ethereum is all about.
Ethereum was created by Vitalik Buterin and was launched on December 2013. Ethereum was created for the sole purpose of writing smart contracts that help build distributed applications in a secure and immutable way. These applications are built on the ethereum network.
What is a smart contract?
A smart contract is an account that is controlled by codes. These codes are written in a programming language called Solidity, solidity can be written on editors like Remix and some others.
These smart contracts are written so as to make transactions more secure, immutable and trustless. These contracts acts as a middle man between two or more parties.
These contracts are then deployed on the ethereum blockchain network.
what is an ethereum network?
An ethereum network is a blockchain network that stores the contract that is deployed to it. This network securely stores these contracts on its network. More than one ethereum network can exist. But the ones that would be highlighted here are the major networks.
we have :
Ethereum Main Net : This is the ethereum main network, this network works with real ether (money) and we deploy smart contracts on this network.
Test Networks : This netwok comprises of the Rinkeby test network, Kovan test network, Ropsten test network and Goerli test network. The test networks are for testing out our smart contracts that are being deployed. These networks give the room for the use of worthless ether to be used in testing out our smart contracts.
Localhost 8545 : This is an ethereum network that runs locally on your system.
Custom RPC : This is a remote network that is running from a remote address.
Using Meta Mask to display the various ethereum networks.
This is a piece of the puzzle on what Ethereum is all about.
would be giving more pieces of the puzzle on the articles that are to come.
Guess we would have to go now, thanks taking out time to read this article, see you next time