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Showing posts from April, 2022

Basic stuff to know about Blockchain and Smart Contracts in Ethereum

I could guess if you are here reading this blog, it's because you want to win some money with the popular cryptocurrencies and blockchain. But, wait, the first thing that you need to learn is to be very patient, as everything in this life, nothing is simple and easy, you need to work hard and persistent, then, you will see the fruits. So, let's start defining very simple concepts on this huge topic: Currency: The traditional currency exchanges currencies for something else, but it requires trusted third party, example: bank, credit card company, etc Cryptocurrency: It is a digital currency Hash : It is a mathematical function that only works one way; it is easy to calculate but difficult to reverse (transform data using ASCII) Blockchain ( blocks of data): Introduced in 2008 by Satoshi Nakamoto It has been able to solve all the major problems of distributed processing (more than one computer is used to run an application) It helps to exchange things of value without a tr