The EVM sits at the center of Ethereum, providing a decentralized computing platform to the world. Everything else is all designed protect and expose the EVM so that anyone who is interested can permissionlessly interact with it.
Ethereum is made up of 3 parts:
A block is made up of 3 key components:
While much more nuanced in practice, you can think of Ethereum operating in turns. Transactions are bundled, ordered and executed all at once.
Each bundle/block represents a turn, linked together by cryptographic proofs.
The blockchain, a list of blocks/bundles of transactions, is simply a shared database, a public ledger. Ethereum is not only open-source, it is open-receipt.
By its very nature, web3 is radically transparent.
For better or for worse.
Back in July, said that he will have considered Ethereum ~55% done after The Merge is complete.
What does the future of the Ethereum blockchain look like?
The Ethereum blockchain will see two major categories of upgrades:
- non-settlement offloading, moving execution and data availability off-chain
Long term, Ethereum mainnet will become the global settlement layer of global finance and the (rapidly) growing internet economy.
Ethereum will provide the foundational technology, upon which the builders will come.
Internet-native property rights are the table stakes.
Open collaboration and positive sum thinking are the house rules.
A better system, built for 100 generations.
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