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Ethereum White Paper
Satoshi Nakamoto's development of Bitcoin in 2009 has often been hailed as a radical development in money and currency, being the first example of a digital asset which simultaneously has no backing or intrinsic value and no centralized issuer or controller. However, another - arguably more important - part of the Bitcoin experiment is the underlying blockchain technology as a tool of distributed consensus, and attention is rapidly starting to shift to this other aspect of Bitcoin.
Commonly cited alternative applications of blockchain technology include using on-blockchain digital assets to represent custom currencies and financial instruments (colored coins), the ownership of an underlying physical device (smart property), non-fungible assets such as domain names (Namecoin), as well as more complex applications involving having digital assets being directly controlled by a piece of code implementing arbitrary rules (smart contracts) or even blockchain-based decentralized autonomous organizations (DAOs).
What Ethereum intends to provide is a blockchain with a built-in fully fledged Turing-complete programming language that can be used to create "contracts" that can be used to encode arbitrary state transition functions, allowing users to create any of the systems described above, as well as many others that we have not yet imagined, simply by writing up the logic in a few lines of code.
Commonly cited alternative applications of blockchain technology include using on-blockchain digital assets to represent custom currencies and financial instruments (colored coins), the ownership of an underlying physical device (smart property), non-fungible assets such as domain names (Namecoin), as well as more complex applications involving having digital assets being directly controlled by a piece of code implementing arbitrary rules (smart contracts) or even blockchain-based decentralized autonomous organizations (DAOs).
What Ethereum intends to provide is a blockchain with a built-in fully fledged Turing-complete programming language that can be used to create "contracts" that can be used to encode arbitrary state transition functions, allowing users to create any of the systems described above, as well as many others that we have not yet imagined, simply by writing up the logic in a few lines of code.
36 pages, ebook
First published July 30, 2015
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Displaying 1 - 4 of 4 reviews
January 13, 2022
Fundamental read to understand how the cryptocurrencies’ ecosystem works. Sheds light on Bitcoin’s mechanisms, thus proposing the Ethereum Protocol as an alternative to it, neither better or worse.
MUST read if you are starting to fall down the rabbit-hole of Crypto and have a background of coding or just if you are intrigued most about the hows not the money itself.
MUST read if you are starting to fall down the rabbit-hole of Crypto and have a background of coding or just if you are intrigued most about the hows not the money itself.
March 25, 2025
Fundamental web3 read. As a technical worker that isn’t a dev I understood perhaps 80% but I appreciated that it is written for multiple audiences. I think that even non developers in this space should read this.
Displaying 1 - 4 of 4 reviews