How Ethereum Works?


Ethereum is showing a growth in the market. It really interests me to know how Ethereum works?

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Charlie Evans 3 months 1 Answer 43 views 0

Answer ( 1 )

  1. The Ethereum blockchain is probably the most evolved yet complex blockchain system ever created.

    Despite the complexity of the protocol and the security mechanisms that have been designed so far (for some of them formal proofs have been provided too), a full Ethereum node is composed of three essential parts

    the blockchain component : where the transactions are recorded and verified.
    a peer-to-peer network: In this network, the “peers” are computer systems which are connected to each other via the Internet. Files can be shared directly between systems on the network without the need of a central server.
    the virtual machine : Its purpose is to execute smart contract code. This allows transitions from one state to another, just like a real machine

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