Devcon2: Ethereum in 25 Minutes


[Happy Music] Ok, great, thank you. So I heard people in the audience complaining in WeChat that I am too quiet so I’m gonna try to keep it closer to my mouth this time around, we will see if it works. Great, so this is one of the standard presentations I give when people want a quick overview of the entire Ethereum protocol. So chances are that you will listen through this: you will catch some things, you won’t catch other things but at the very least you will understand what the broad structure is, and if there is any piece that you don’t fully understand we have quite a few materials online that tell you about the rest. We have our Github Wiki, the website if you are a developer you can even read things like the yellow paper, and things like the AMC ethereum source code. If you want to get like that deep in understanding of how the Ethereum protocol works, I highly recommend doing those things If you have specific questions, I also highly recommend even going into some of our public channels. So, if you go to gitter.im/etherium for example… you can actually, like literally just talk to our developers, who are like right there and you can ask questions where generally a fairly friendly community I hope So Anyway, Etherium in 25 minutes. So first of all how did the project start. So, project started back in 2013. At the time people were very interested in blockchains. back in 2011 there was a project called Namecoin which was trying to make a blockchain based on ? system In 2013 there were projects called covered coins which were trying like digitize arbitrary digital assets or arbitrary assets and put them on the blockchain. There were protocols called mastercoin that were trying to integrate all sorts of fairly complex features. So, there is a consensus that you can do lots of different really cool things with bitcoin or with other blockchains. So, project started back in 2013. At the time people were very interested in blockchains. People were looking at bitcoin. People were excited about bitcoin. But people were also realizing that blockchains are useful for things other than just money. Asset issue in crowd funding, title registration, lots and lots of stuff. The problem is most watching protocols were designed like this bulky calculator, single-purpose device works reasonably well for if all you care about is adding and multiplying numbers but it does nothing else. And sure someone with a computer science degree and with a good calculator will think how to hack it to play video game inside of it. But do you really want to do that? So after this in 2013 there were people who were making protocols that look like this So, Swiss army knife. Basically you come up with a list of 10 or 20 features you want to have, make a little tiny thing for each one of them, stick them together into a knife and there you go – that’s your product or in this case, you know, that’s your blockchain. So, back at the end of 2013 there were lots of projects that looked like this. They just said: “Ok, you know we want blockchains to be usable for asset issue and crowdfunding, bets prediction markets, identity registration, title registration. Pick a list of twenty different things, have a list of twenty different transaction types and have a little piece of the protocol that supports each one. So, this is all well and good. The problem is what if you come up with your list of twenty applications, publish your protocol. Then the next day some guy says: “Oh, look I discovered the 21st blockchain application. So this is the Etherium way. [laughter, applause] you buy it once and download immediately comes with 50 or 100 applications. If someone comes up with a new application, they write the code So, so, why do we love smartphones so much? Basically because the smartphone is nice and generic How I’m gonna fit it in?” And in 2013 this is exactly what started to happen. they upload it to the google app play store and if you want it to be accessible in China you can upload it to Huawei store as well and then if anyone wants to use your application they don’t need to buy a new phone, they don’t need to buy a new hardware angle you just download the app and get started immediately running it. Very simple. And the cost of actually developing an application – all you have to do is write code. You don’t have to make your own hardware, you don”t have to have your own manufacturing, you don’t have to have your own distribution

56 thoughts on “Devcon2: Ethereum in 25 Minutes”

  1. Really hard to listen and understand since 7:00. If it is supposed to be a fast&simple explanation, than epic fail happened. (I'm not a programmer btw)

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  4. awesome content… thanks for sharing… so cool. The presentation is perfect in my opinion… Ethereum unplugged series, perhaps.

  5. At 15:16 he talks about the halting problem, if this problem is not solved, the transaction fee will go higher and no will want to use it anymore.

  6. What will you tell o to the TokenGo platform? The project is perspective, the command actively advances a new functionality, new counters are entered. The personal office for bounist's convenient, did not see it still on one platform. Developers embody the relevant ideas in life. I think to this project it is worth giving fixed attention.

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  8. Just for the hell of it, someone please send me some ETH for free for absolutely no reason other than it being out of the kindness of your heart. Thank you! 0xbcd7dc797feae46185bf7982ed17abdde91f1868

  9. Hey, I thought of writing you some suggestion from the Philippines.

    Listen to why I did not use a ETH wallet which was so popular and the best wallet. Here is my story:
    I had downloaded Etherium Wallet from the google play store and had opened the account with my email, number and informations and then had sent some BTC to the wallet from my coins.ph wallet. It was fine and I have actually liked the wallet. But then when I have tried to open the same wallet in my desktop, it says to scan the desktop wallets QR code with the mobile wallet QR code scanner. Guess what happen? I could find any option in my mobile wallet to scan the desktop's QR code ! There was no way I could combine the mobile and desktop wallet as there were no options. It gave me a sense that may be one of them were not the right wallet since I am suppose to be able tie these two same wallet which is my one and only Etherium Wallet. It gave me a notion that one of those wallet is a corrupt wallet and some bad thing may take place in the future. So I was concern. And then when I had scanned the computer wallet QR code with another wallet it says that the QR code is wrong. I scanned that address with many other friends Wallet and everywhere it showed that it was a wrong QR code. So, hopefully it will help you to find out why these thing happen. My thought was, probably someone had opened a fake ETH site where I had logged in, but then the wallet had suggested me that site though.

    I think, you should start a totally new wallet and tell all your subscribers to transfer there and stop using the old wallet and specially the desktop wallet. You too should be careful about your X developers. Keep a trust worthy developer who would not be compromised.

    I think, its the right time for ETH to shine in the crypto market as we all like ETH. Make sure that these kinds of hacking does not take place again and again. It may permantly boycott you as the customers will be afraid to use your wallet and so you will not have much investments then.

    Wish good luck to ETH. Hope my story will help you guys figure out the real problem and ETH becomes a great crypto

  10. Ethereum Daily Fantasy Sports and peer-to-peer betting pays directly to ether accounts after each game. SkillDuel.net works on all devices: iPhone, Android, iPad, Windows, or Mac. http://SkillDuel.net

  11. Ellaism-the first truly decentralized community driven Ethereum-like network. No pre-mine, no ICO Presale, no dev fees, 100% POW, no hardforks.

  12. Vitalik is a great speaker and his knowledge on Ethereum has taught me a lot of things about the technology. This technology has a great potential to be the next "internet-like-innovation" that can be used to create protocols that are secure and non-corrupt. This technology can definitely be used in economies that are struggling with corruption and security issues. Smart contracts is one of the examples of the technologies that can be used for this. Many companies like EP (https://energypremier.com/ or https://tokensale.energypremier.com/) are using it to perform transparent and secure energy-trading. This can make a difference by increasing the transparency in the energy trading market and in fact trigger competition among energy suppliers. We need to make products that make economies free of corruption, centralisation and exploitation of monopolised industries. EnergyPremier is one of the example but, we need more 🙂 :).

  13. Your slides are no longer accessible: https://ethereumfoundation.org/devcon2/wp-content/uploads/2016/10/Ethereum-in-25-Minutes.pdf That links 404s.

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  15. The price of this coin will double before Halloween. I consider this the best bet for a future holding. If tomorrow my father came to me and said son, manage my money. I'd put 100 percent of it into eth. Food for thought: 200,000 total developers working within the Eth sphere.

  16. Вне темы: Виталик, пожалуйста, займись здоровьем. Ты еще нужен проекту децентрализации фиата. И прекращай связываться с властьимущими, это подозрительно.

  17. His presentations are amazing, that's the person to get your motivation from! He looks in the future as we are, the first Blockchain community ' CrypTalk' will help you to trade more safe and easy!!! Download to check it out and stay in touch with the latest news in cryptoworld!

  18. What if Nano and Ethereum had a baby ?
    and it was 4X faster Nano..
    with smart contracts..
    and 0,7 second transaction finality..
    had aBFT in a permissionless setting..
    enterprise-level scalability..
    bank-grade security..
    and could connect to any blockchain ?
    -> FANTOM @fantomfoundation <-

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