What is Ethereum? 🚀 (Ultimate Beginner's Guide) - How it Works 💻 & Why it's Undervalued 🤑
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- Опубліковано 30 тра 2024
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This is a simple explanation of what Ethereum is and how it works for beginners interested in cryptocurrency..
======== TABLE OF CONTENTS ========
00:00 - Introduction
00:56 - What is Ethereum?
05:39 - What is Ether?
07:26 - What is Gas?
10:23 - How the Ethereum Network Works?
11:37 - What are Smart Contracts?
13:20 - What are DApps?
14:21 - What are ERC-20 Tokens?
17:44 - What are ICO’s?
19:37 - What is Ethereum 2.0?
======== VIDEO SUMMARY ========
This is a video guide all about Ethereum.
Specifically, we discuss what Ethereum is, what Ether is, how they work, and what the future holds for this blockchain project.
Vitalik Buterin, is a Russian-Canadian programmer and cryptocurrency researcher who came up with the idea for Ethereum in 2013, which finally went live in 2015.
The most plain and simple explanation of Ethereum can be broken down into two words:
Software platform.
Now, what makes Ethereum different from other software platforms is that it is a blockchain-based software platform.
The most plain and simple explanation of blockchain is that it's records of data stored on a network of computers.
Blockchain’s recording and storage protocols make it such that once new data is verified, it is unmodifiable, it’s distributed across a vast network of computers around the world so it’s hard to destroy, and no one person or entity controls the data or network, creating a transparent environment.
Bitcoin and Ethereum are both use cases of blockchain technology with different purposes.
So how is Ethereum’s blockchain-based software application able to operate if it’s not owned or controlled by a central entity or authority?
Many people commonly use the words “ether” and “Ethereum” interchangeably, when they actually represent two different things.
Ether is the Ethereum blockchain’s native cryptocurrency.
It operates similarly to bitcoin, in that it is a digital currency that can be transferred to people around the world, used as a form of payment, or act as a store of value.
Ether was designed with the intention of fueling the Ethereum network.
To incentivize people to host and maintain the data on the blockchain, Ether was created as a form of payment to fuel the Ethereum network.
So anyone who wants to build a software application on the Ethereum network has to pay for the computing power and space required using ether.
And the amount of Ether required for network fees is determined by a built-in pricing system known as gas.
Let’s break down the Ethereum network into 3 simple layers so that we can understand how it works in a nutshell conceptually.
Imagine the base layer of Ethereum consists of a vast network of computers called nodes.
Imagine another layer on top of the base hardware layer is a software layer.
And software applications bring us to the final layer of Ethereum: the application layer.
The application layer is where developers can build and launch third-party decentralized applications, or dapps for short.
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======== SOCIAL MEDIA LINKS ========
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======== DONATIONS ========
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© 2023 Crypto Casey. All rights reserved. - Наука та технологія
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Need to watch this 5 more times. So many concepts it’s hard to wrap your head around!
This is so valuable it’s unbelievable. I’ve watched this video 10x by now just trying to let everything continue to sink in
wild how this doesnt have more views over a year later... i felt late, but now i feel like im still earlyish to the party
Thank you for sharing this!!
No one watching this understands how early they are, I’ve just realized so I’m trying to learn as much about it as possible.
Sameeeeeeeeeee
its cuz we're too dumb to understand it or rather to even become aware to want to learn in the first place. I'm still lost after watching this twice lol
crazy ho the price of ETH was $270 at the time of this recording! i thought i was late when i bought ETH at $700CAD LOL
Your ability to break down complex concept is amazing. I’ve been in the space for 3 years and I think this explanation of Ethereum is the best for beginners. Even I learn a few more things in a structures way. You have one more subscriber. Thanks for the content
Have Been following Clint J Morrison from the start, I have learned so much.
Agreed! I just got started and it could not be clearer with your descriptions.
Casey, you did a great job in this video. Probably the best out there. Thanks for breaking this stuff down for us in an in-depth and well organized way. I know it's a lot of hard work.
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I don’t often comment, but this was a awesome presentation you must have worked hard to get to such a professional level. Thankyou
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The best Ethereum intro on UA-cam. Super clear with a lot of depth. Great work!
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Excellent Video You are really good at explaining this subject...Thank You :)
Best video I've seen explaining Ethereum. This is so deep. I love how she gets real deep, tells us what these big words mean, and shows animations to make things easier to grasp. 👍
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She clearly knows and explains the system well, showing a great liking for it so she is using it to make herselve a millionaires.
Thank you so much for your effort and great job to bring us the knowledge on such a complex subject in a clear way.
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Thank you for all your hard work and insight !
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Crypto Casey, I wanted to let you know you did a phenomenal job explaining Ethereum. Very detail oriented, Packed with lots of information and explained throroughly. The way you simplify something so complex is needed and appreciated. Thank you for taking the time and energy to explain this🙏🏾
"Awesome!" Thanks Casey I like your great no-nonsense productions! Your teaching style is very concise, to-the-point, straightforward & easy to understand.. Thank you so much! Keep the great content coming! And I should actually mention you've inspired me to buy my first cryptos.. I just got a hardware wallet and I'm going to buy some Bitcoin and Eth ASAP!
Thank you Casey for the clear explanation of Ethereum. I appreciate the clean presentation :)
Excellent summary. Best I have seen yet. I gotta watch this a few times. Thank you👍
Your videos are the best on UA-cam for Crypto education.
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Awesome video. A clear explanation of ETH. Can you do a similar one on XRP?
XRP: RIP
this is probably the only video that has made me truly understand ether. Explaining it as "digital oil" is such a good analogy that ive never heard.
How can I get to start Ethereum?
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Bitcoin is a good business someone can think of doing..
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As usual, great knowledge
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hi casey all your videos are excellent very informative, I wanted to invest about 5k and hold it for two or three years, what would be the best option for me invest in, bit coin or ethereum.
That's my very own question as well. Been thinking about buying and distributing my $5K budget between two or three cryptos.
Eth and link
LINK , ETH, XRP , TEZOZ, CARDANO
unibright
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As a total noob, I find this and btc both fascinating, on similar levels...but one question looms in the background. As these crypto's exist outside the direct influence of Uncle Sam, now does 'he' expect to continue financing the daily life of America without the medium of his IRS ? Or...might there be an interest in these cryptos from an 'Uncle Sam'? On an revenue source basis?
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Thx for another great vid. Love the table of contents
thanks for the clear explanation of this, really good beginner video. Still many videos from you to go to get a solid base in knowledge. Thanks again for this! Appreciate the amount of work you put into this all.
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Beautifully explained.Thank you
It's cool that you're so passionate about going into the finite details involved with crypto, while at the same time only posting videos when you are comfortable and not having the stress to make daily videos.
Casey you’re a legend and life saver for true layman like me in this space. Thank you!!
Thanks for the info
Thank you for your knowledge
Thank you! This sparked my interest and helped me see the true potential of Blockchain, that we already have. I genuinely hope you will make more of these videos. You are very pleasant to listen to also! And I like your presentation and teaching style.
Thanks for the feedback! More videos coming soon.
skillfully presented! I amazed for how much effort you put into as a facilitator myself, although in different field.
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Very well done. Thanks so much Casey! I will subscribe to see how you break down the move to PoS this summer. If you would, will you do a video on how to run a validation node with 32 ETH when it is available. You have a great way of explaining things simply enough for me to follow. Thanks again. I really love your videos! : )
Thanks for the feedback. On becoming an ETH validator is in the pipeline.
Beautiful♥️Work takes lot of time and energy keep learning
👍thank you for sharing your knowledge
always a pleasure watching your content
Looking forward to hold up to 32 eth before march and also how do i trade my eth. Very profitable right? daily trades
I used 10k to trade today and i made good profit. Ethereum is another good coin
Oh my goodness, what a superb presentation,I can't afford to miss subsequent of its kind.thank you for this great job.
Well explained thanks 🙏
This the best, most concise explanation I've seen. Thank you so much!
Anytime i watch her videos im always mesmerized at how she takes these complex topics and breakes em down to the level a caveman could understand.
Its like some heavenly revelation.
Thank you so much!
Casey is Crypto
Goddess.
and
Million Dollar Baby.
she is a great orator, respect
Strip, strip. Music is nonsense.
Hope she is not going to be Dr. Ruja of The CryptoQueen ... Who remember her for OneCoin Fraud...
million dollar BOSS baby more like
Thank you for information 👏
Excellent videos! Thank you
Love it. Crypto Casey would you do a video on what would happen to cyrptocurrency if the entire grid were to go out? No electric etc.
@Terry White entire grid they said entire.
Not half not all but one
Entire grid wrong answer
You're now dared to look up the Collington event 1859.
Never Never Say Never 😎 live your life to its ability and potential
And I'm sorry guys but Casey is my wife in my dreams 😀
I don't sleep I dream
Professor Casey does it again! Thanks for the great explanation. You are to me, and I am sure to others as well, an invaluable fountain of knowledge. You’ve enlightened me once again 🙏….Thank you.
she is kind of intense though
Great job Casey, simple and effective. Keep it up!
Your done so great
This video is like drinking from a fire house .
Good job 👏🏽
Most comprehensive and simple overview on Ethereum I have seen so far. Very well done!
The best video explaining Ethereum. I hope to see more videos from you soon.
Great job. Thank you.