This post simplifies the complexities of blockchain technology using simple explanations and illustrative diagrams. It debunks common misconceptions such as the confusion between Bitcoin and blockchain. The post explains blockchain fundamentals, including its decentralized nature, the role of nodes, and how transactions are validated and stored. It also covers concepts like smart contracts, the Ethereum Virtual Machine (EVM), gas fees, and the difference between Ethereum and Bitcoin. Additionally, it tackles advanced topics like consensus mechanisms (PoW, PoS), and the importance of maintaining network security against double-spending and 51% attacks.
Table of contents
Introduction: From Confusion to ClarityDebunking Myths: Common Misconceptions about BlockchainUnderstanding Blockchain: So what is Blockchain?The Interplanetary File System (IPFS)Remote Procedure Call — RPCSmart Contracts and SolidityEVMVirtual Machine (we already familiar with this)BytecodeRuntime BytecodeDeployed BytecodeInit CodeGasSolidity, Vyper, HuffEthereum vs BitcoinTransaction in BlockchainMerkle Tree Data StructureDouble-SpendingByzantine Generals ProblemConsensusCreating a BlockBroadcastingSort: