Ethereum Summary
Significance of Ethereum 2nd generation blockchain implementation. More transparent and tracable. Allows more autonomy via smart contracts. ERC-725 standard is used to link real world identities to ethereum accounts. Ether - Ethereum's native crypto currency. Ethereum address - Pair of public key (for crypto transfer) and private key (secured). Initial Coin Offering (ICO) - Proposal for new blockchain based buisness. Decentralized Autonomous Organisation (DAO) - Minimal human interaction, decisions are made by smart contracts. Ethereum Smart Contracts Set of rules to follow to register a transaction in blockchain. Ethereum Virtual Machine (EVM) - An virtual environment where we can execute smart contracts. Every nodes run a copy of EVM. Each node runs every smart contracts resulting same output, hence more consistency. I learned most of these points from the linkedIn course - Please check it out as well.