Notes from Ethereum for Dummies - Dr. Gavin Wood

• What is Ethereum:
  • It is a single global computer
  • Global singleton computer
  • All computers are generally physical or virtual that resides in one of the physical computer
  • ETH Computer does not resides in any physical yet there is one
  • There is no reset button, no stop button
  • Ubiquitous: Access to Internet -> Access to ETH
  • Multi user:
    • No limit on user account
    • Object oriented, encapsulation is built in, code has data
    • Accessible easily
  • Easily verifiable and auditable
  • Replay everything in past and get the same result

Image source: https://www.youtube.com/watch?v=U_LK0t_qaPo&ab_channel=Ethereum

• Boxes: Accounts -> Objects getting executed in ETH environment
• Side boxes: External account, objects from which messages get injected

Once you get in no way out, only way in is external account

Guarantees:

• Atomicity: Either transaction is succeeded else not
• Synchronous: No need to think about threading, shared process etc
• Provenance: All the messages can be inspected to see the source of the message, These guarantees allows to build security
• Permanence: Objects data is lasts forever, does not change when computer goes off
• Immortal: Object cannot be deleted
• Immutability: Objects codes can never be changed

Servers are Walled Garden (?) -> Monopoly

Does not give false security, no data is places in the third part server (?)

Authenticity -> No third party server auth you, you have private key to get auth

Because of decentralised:

• No Single point of failure, control, bottelneck in principle

Ethereum is an innovation to conmands, anyone can build on it and make business out of it Platform for zero trust computing

Questions:

1. Private vs Public Chain ?