Ethereum EOA protocol

1. Eth is a kind of digital token of Ethereum, which is regarded as "bitcoin version 2.0". It adopts the blockchain technology "Ethereum", which is different from bitcoin. It is an open-source public blockchain platform with intelligent contract results, and a resonance network composed of tens of thousands of computers around the world. Developers need to pay eth to support the application. Like other digital currencies, ether currency can be bought and sold on the trading platform

warm tips: the above explanations are for reference only, without any suggestions. There are risks in entering the market, so investment should be cautious. Before making any investment, you should make sure that you fully understand the nature of the investment and the risks involved in the proct. After a detailed understanding and careful evaluation of the proct, you can judge whether to participate in the transaction
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2. Smart contract & quot The term "smart contract" can be traced back to at least 1995 and was proposed by the prolific interdisciplinary legal scholar Nick Szabo. He mentioned the concept of smart contract in several articles published on his website. His definition is as follows:
& quot; A smart contract is a set of promises defined in digital form, including the agreements on which the contract participants can execute these promises& quot;
let's explore the meaning of his definition in more detail
commitment
a set of commitments refers to the (often mutual) rights and obligations agreed by contract participants. These commitments define the nature and purpose of the contract. Take a sales contract as a typical example. The seller promises to deliver the goods and the buyer promises to pay a reasonable price
digital form
digital form means that contracts have to be written into computer-readable code. This is necessary, because as long as the participants reach an agreement, the rights and obligations of smart contract establishment are executed by a computer or computer network
to further explain:
(1) when will the parties to the smart contract reach an agreement? The answer depends on the specific smart contract implementation. Generally speaking, the contract is discovered when the parties are committed to the execution of the contract by installing the contract on the contract host platform< (2) contract execution
& quot; Execute & quot; And the real meaning of it also depends on implementation. Generally speaking, implementation means active implementation through technical means
(3) computer readable code
in addition, the contract needs specific & quot; Digital form & quot; Very much depends on the agreement that the parties agree to use
protocol
protocol is technical implementation, on this basis, the contract commitment is realized, or the contract commitment is recorded. Which agreement to choose depends on many factors, the most important of which is the nature of the assets being traded ring the performance of the contract
take the sales contract as an example. Suppose that the participants agree to pay in bitcoin. The chosen protocol will obviously be bitcoin protocol, on which the smart contract will be implemented. Therefore, the contract must use & quot; Digital form & quot; It's bitcoin scripting language. Bitcoin scripting language is a non Turing complete, imperative, stack based programming language, similar to forth.

3. At the top of Ethereum is DAPP. It exchanges with the smart contract layer through Web3. JS. All smart contracts run on EVM (Ethereum virtual machine) and use RPC calls. Below EVM and RPC are the four core contents of Ethereum, including: blockchain, consensus algorithm, mining and network layer. Except DAPP, all other parts are in the Ethereum client. The most popular Ethereum client is geth (go Ethereum)

4. Ethereum is a distributed computing platform. It generates an cryptocurrency called ether. Programmers can write "smart contracts" on the Ethereum blockchain, and these Ethereum smart contracts will be executed automatically according to the code

what is Ethereum
Ethereum is often compared with bitcoin, but the situation is different. Bitcoin is a kind of cryptocurrency and distributed payment network, which allows bitcoin to be transferred between users

related: what is bitcoin? How does it work

Ethereum has a bigger goal. As Ethereum says, "Ethereum is a distributed platform running smart contracts.". These smart contracts run on "Ethereum virtual machine", a distributed computing network composed of all devices running Ethernet nodes

"distributed platform" means that anyone can set up and run an Ethereum node just as anyone can run a bitcoin node. Anyone who wants to run "smart contracts" on nodes must pay the operators of these nodes in ether, which is a cryptocurrency related to Ethereum. Therefore, the person running the Ethernet node provides computing power and gets paid in the Ethernet, which is similar to the way that the person running the bitcoin node provides hash power and pays in bitcoin

in other words, although bitcoin is only a blockchain and payment network, Ethereum is a distributed computing network, and its blockchain can be used for many other things. Details are provided in the Ethereum white paper

what is ether
Ethernet is a digital token (or cryptocurrency) related to Ethereum blockchain. In other words, Ethereum is the token and Ethereum is the platform. But now people often use these terms alternately. For example, coinbase allows you to buy Ethereum, which stands for Ethereum

this is technically "altcoin", which actually means a non bitcoin cryptocurrency. Like bitcoin, ether is supported by distributed blockchain - in this case, Ethereum blockchain

developers who want to create applications or Ethereum smart contracts on Ethereum blockchain need Ethernet token to pay for nodes to host it, while users of Ethereum based applications may need Ethernet to pay for services in these applications. People can also sell services outside the Ethereum network and accept Ethernet payments, or they can sell Ethernet tokens in cash - just like bitcoin

5. < blockquote >

in today's mobile payment era, few people will use coins for payment . A lot of people, they think that mobile payment is more convenient, if you carry RMB, it will be very troublesome, so now less and less people use paper money to pay. In fact, the process of making paper money is also very complicated. The materials used to make coins are different metals. Compared with those rare metals, low-cost metals are more suitable for making coins

< / blockquote >

and those rare metals, such as gold or silver, are suitable for making commemorative coins with collection value . In many countries, some of their currencies are made of alloy, because it is a very ideal material for coinage, and the hardness is improved by mixing with other metals. At the beginning of making coins, we should choose the materials and put the selected metals in the furnace for casting and melting. After many times of rolling in the rolling workshop, the thickness of the coin can meet the requirements of coins, and it can be made into semi-finished procts for further processing{ RRRRR}

with the progress of science and technology, now many mold making machines have become engraving machines for casting to replace the previous manual process . It can improve the accuracy to a certain extent. It used to take a whole day to manufacture, but now it can complete the remanufacturing of the mold within a few hours. After that, it can be pressed on the coin, and the coin will become the currency in circulation

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