quartz/content/notes/ethereum.md

title	tags
ethereum

ethereum whitepaper

• a new version of blockchain which has better internal scripting
• the state of ethereum is made up account objects. each acc has:
  • nonce
  • balance
  • contract code
  • storage
• There are two types of accounts
  • external:
    • controlled by private keys
    • no code
    • can send "messages" as a transaction
  • contract: controled by contract code
    • executes code when it recieves a message
      • read/write from storage
      • send messages
      • create contracts
      • etc
• messages - similar to bitcoin transactions but:
  • can be created by contract and externall accounts (not only external)
  • can contain data
  • contract accounts can return responses when they recieve a message
    • ∴ can act as functions
• transaction - refers to signed package that stores a message to be sent from an external account
  • they contain
    • recipient of message
    • signature of sender
    • amout of ether and data to send
    • STARTGAS - limit to number of steps of code
    • GASPRICE - fee to pay miner per step
• applications
  • identiy and reputation systems
  • decentralised file storage
  • decentralised autonomous organisations DAO
  • savings wallets
  • crop insurance
  • decentralised data feed
  • smart multi-signature escrow
  • cloud computing
  • p2p gambling
  • on-chain decentralised marketplaces