Chainlink Engineering Tutorials zeus chainlinkWhat is Ethereum?

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zeus chainlink Musk-Driven Dogecoin Surge Is a Warning to Twitter Rab. II... What is Ethereum? Chainlink Engineering Tutorials
hi welcome to the chain link engineering tutorials ethereum edition we are going to learn how to build some of the most powerful world-changing decentralized applications this first video will be a little bit of context with what is ethereum and blockchain and the rest will be more technical guides on how to get external data into your smart contracts if you have some software engineering experience but are new to blockchain this is the perfect place to start if youre already familiar with blockchain then proceed to the next video if youre brand new to both blockchain and software engineering then be sure to follow along with the documentation in the links and reach out to discord reddit or other forums like stack overflow or stack exchange eth for more help as well and youll be fine too learning blockchain is just like learning any other coding language but first to do that were going to need to know a little bit about how blockchain actually works we dont need to dive too deep into understanding everything about ethereum right now but if you want a deeper dive weve got some amazing links in the description so what is ethe what is ethereum to understand ethereum we first need to know a little bit about bitcoin first bitcoin came online in 2009 which allowed for peer-to-peer transactions without a centralized financial intermediary this was possible with the technology that eventually became known as blockchain people thought this was amazing but limited and a few years later a man named vitalik buterin published a paper describing a way to use this same blockchain technology to actually make entire decentralized programs in corporations again without the need for a centralized middleman this led to the idea of a smart contract we use regular contracts every day from our job salaries to our school loans to insurance but they each have a centralized entity that needs to manually execute the deliverables on those contracts smart contracts however automatically execute whenever the parameters are met and do not need to rely on a centralized figure or entity to execute them this is a huge improvement over traditional contracts because the traditional ones have a fundamental flaw a malicious entity who owns the contract is now inclined to manipulate the execution of the contract for their own for-profit gains this is a massive conflict of interest on the other hand decentralized applications automatically execute and are therefore tamper proof from these centralized entities for example your insurance company ultimately approves or denies whether or not you get paid on your claims because they own the contract in a decentralized world whenever you need a surgery your house gets hit or any other parameters of the insurance agreement are met it automatically executes this is a massive improvement on the model of trust for the world the purpose of ethereum is to build these decentralized applications integrated with these smart contracts a decentralized application is also known as adap so how does ethereum work this will be a really high level overview of both how ethereum works and how blockchains in general work for a deeper look as we said links are in the description to learn more something important to note is that ethereum bitcoin and a lot of other cryptocurrencies operate on their own blockchain for the most part there are some exceptions and well go into that later but for the most part think of each blockchain as an independent chain on regular applications today all the data and logic that gets stored and executed happens on one server or one group of servers owned by a single centralized entity ethereum and other blockchains on the other hand operate from a network of servers a decentralized network of servers also known as nodes on ethereum each blockchain node contains a full copy of every transaction and piece of data and piece of code executed that has ever happened period so in essence you can think of ethereum as a database owned and operated by many people or a distributed ledger and that can execute code as well every time somebody makes a transaction or tries to execute code that transaction or code is sent to every single node if one node were to try to change something their blockchain node would no longer match what the rest of the nodes were saying and essentially get kicked out and be rejected their copy of the blockchain would now be invalid majority rules when it comes to the blockchain there is more than one ethereum network the one that most people talk about is mainnet ethereum or main ethereum but just like any other system or technology sometimes you need to run some tests and there are many networks called test nets or test networks that dont cost any money and are used simply to test the technology of blockchain theres a little bit of cryptographic magic that goes on behind the scenes to make all this work there are some great demonstrations on proof of stake proof of work and another blockchain consensus methods in the description as well now that you know some of the basics there are three key pieces to keep in mind when talking about blockchain and ethereum in general number one its immutable immutable means it cant be changed since there are so many other copies of the blockchain its hard to lose data or change the data without every other node picking up the slack number two its decentralized since nobody owns the ethereum chain all programs run without a centralized body number three its essentially incorruptable since every other node has a copy of every transaction thats ever happened if one node were to change something every other node would notice and reject their chain theres also a little bit of cryptographic magic that goes on behind the scenes to prove what data is right what data is wrong but again were not going to go into that here to interact and build some of these smart contracts ourselves we first need to get a wallet that will hold our ethereum tokens yes some people use ethereum to buy and sell on exchanges but as engineers were going to use ethereum as our transaction gas token whenever a transaction happens on the chain all the other ethereum nodes need to do a little bit of work to make sure the transaction is recorded properly they make sure our transaction goes through smoothly and we pay the ethereum nodes also known as miners when theyre doing this thats miners we pay them a little bit of ethereum as transaction gas to get started setting up a wallet head on over to our next video and youre already on your way to becoming a smart contract expert see you there and now were off to the races if you build something cool during this tutorial share it twitter reddit discord wherever we love seeing chain link products come to life and as you get stronger be sure to stay on the lookout for hackathons as theyre some of the best places to try what youve learned and and just jump into the community as well youll immediately become a part of one of the fastest growing communities of brilliant exciting and friendly engineers who all started right where you are now for beginners and experienced developers alike these hackathons are great places to show off your stuff learn and try something new and more importantly become a part of history of this fourth industrial revolution hope to see you there as well The Chainlink Fall 2021 Hackathon kicks off October 22. Sign up today: Ethereum is a decentralized platform where engineers can create smart contracts, which are decentralized programs that automatically execute without the need for a centralized intermediary. Chainlink is a decentralized oracle network that enables smart contracts to securely connect with any data and system outside the blockchain such as data providers, web APIs, IoT networks, other blockchains, enterprise backends, traditional bank payments, and more. Chainlink is critical to connecting the Ethereum ecosystem to the rest of the world. More about Ethereum Ethereum 101: Ethereum mining: Blockchain demo, and cryptography “magic”: Learn more about Chainlink Website Twitter Telegram If you’re a developer, visit the developer documentation or join the technical discussion on Discord ChainlinkEngineeringTutorials,