to be a SMTP. It’s a protocol that is very good at one par`cular task. It is good for transferring money, but it was not designed as a founda`onal layer for any kind of protocols to be built on top.” 30
a technology that was more expansive, and that replicated the func`onality of Turing- complete programming languages in a way that would be so powerful as to describe any blockchain applica`on. 31
contract platform with own cryptocurrency Liquidity decent decent currency code Bitcoin/฿/BTC Ether/Ξ/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 14s Rapid payments Lightning Network Raiden Network Processing cost (CPU,GPU,ASIC) high high Other features UTXO GHOST 32
A network of validators (miners) • A consensus algorithm • A blockchain ledger • The Ethereum Virtual Machine • A set of programing languages • Complex economic structures 33
smaller blocks – 2,000,000 Gas per block – Limited by the gas à (2,000,000/x) transac`ons • The Ethereum Virtual Machine can run smart contracts • ETH token issuance 38
a later `me. • En`re service operates as smart contracts on the Ethereum blockchain, with no priviledged access given to any party. – hGp://www.ethereum-alarm-clock.com 56
for Ethereum that allows for verifiable off-chain execu`on of computa`ons that would be otherwise prohibi`vely expensive to execute within the EVM. – hGp://www.ethereum-computa`on-market.com 57