Unit 1 · Level 2 · Ethereum & the EVM world
The world computer
In 2013, a 19-year-old named Vitalik Buterin asked: why should a blockchain only move coins? What if it could run any program? Ethereum launched in July 2015 as exactly that: a 'world computer' where thousands of machines all execute the same code and agree on the result. Programs deployed there are called smart contracts, and once live, nobody can quietly pull the plug on them.
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What you get asked
What did Ethereum add to Bitcoin's core idea?
Bitcoin is a ledger for one asset. Ethereum generalised the idea into a shared computer where anyone can deploy code that everyone can use and verify.
A 'smart contract' is best described as...
Despite the name, it's neither smart nor a legal contract. It's a program that does exactly what it's written to do, every time, for anyone.
A vending machine takes your coins and drops a snack with no clerk involved. Smart contracts work the same way, enforcing the deal with no ___.
That's the core promise: the rules are enforced by code running on thousands of machines, not by a company you have to trust.
Match each piece of the Ethereum world to what it is
Bitcoin is a calculator that does one thing brilliantly; Ethereum is a computer that runs whatever you load onto it, and ETH is what feeds the meter.
Why do people call smart contracts 'unstoppable programs'?
The code lives on thousands of independent machines at once, so there's no off switch to find. That power cuts both ways, because bugs are just as unstoppable. 🐜
The rest of this unit
A gas-powered world computer, and the standard half of crypto copied.