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C I B ( B A DB
35. Bitcoin Ethereum
Creator Satoshi Nakamoto Ethereum
Player type cryptocurrency
Smart contract platform
with own cryptocurrency
Liquidity decent decent
currency code Bitcoin/ /BTC Ether/ /ETH
Public/Private blockchain public public
User identity pseudonymous pseudonymous
Consensus algorithm PoW PoW/PoS/Casper
Scripting language
Bitcoin Script
Language
Solidity
Smart contracts yes (limited) yes
Turing completeness no yes
Governance (development decisions, etc) Core team Ethereum Foundation
Transaction speed >10.0m 15s
Rapid payments Lightning Network Raiden Network
Processing cost (CPU,GPU,ASIC) high high
Other features UTXO GHOST
35
36. Components
• A cryptographic token
• An address system
• A network of validators (miners)
• A consensus algorithm
• A blockchain ledger
• The Ethereum Virtual Machine
• A set of programing languages
• Complex economic structures
36
39. ru t
• Ethereum has a blockchain
• Ethereum is public and permissionless
• Ethereum has Proof-of-Work (PoW) mining
– Ethash
• Ethereum has an inbuilt cryptocurrency (Ether)
39
40. ru t
• Ethereum’s block ame is shorter (15 seconds)
• Ethereum has smaller blocks
– 2,000,000 gas per block
– Limited by the gas à (2,000,000/x) transacaons
• The Ethereum Virtual Machine can run smart contracts
• ETH token issuance
40
41. ETH token issuance
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78. Ethereum Dev (1/2)
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78
79. Ethereum Dev (1/2)
• Track 1
1. Introducaon to Smart Contracts
2. Seng up the development environment with truffle and testrpc
3. Reading documentaaon and reference resources
4. Watching tutorials on building Smart Contracts
5. Smart contract security and tesang
• Track 2
1. Seng up a development environment with ReactJS and Firebase
2. ReactJS and firebase Hello World
3. Research on Ethereum and Dapp
4. Development of a non-trivial Smart Contract Applicaaon
5. Building user-centric interfaces
6. Should have a keen interest on building beauaful yet simple UI 79