Ethereum is open source distributed blockchain distributed blockchain platform

Ethereum Open Source Blockchain Platform

Track Your Digital Transactions With Ethereum Powered Apps

Ethereum is an open source distributed blockchain network. Build and deploy Smart Contracts and Distributed Applications with complete security and availability

 

Ethereum is an open source blockchain based platform that is used to build Decentralized Apps. Decentralized Applications(dapps) run on a decentralized network which means no one has control over these apps. Smart contracts are code snippets that control and govern the transactions over the network. Anyone can build a smart contract and deploy it on the public network. Ethereum software is built on top of the Ethereum virtual machine(EVM) which is a run time environment for smart contracts. Moreover, Ethereum maintains its own native cryptocurrency called Ether. The miner who mines the new block into the blockchain earns a bounty in the form of an Ether.

There are many consensus algorithms. However, Ethereum uses a consensus algorithm called proof of work(POW). In addition, in this open source software, every transaction needs computational power. Therefore, there is a fee associated with every transaction called Gas and that is necessary to conduct a transaction successfully. Ethereum is based on a distributed network of Nodes on which Decentralized Apps run. Hence, you need a client application to run a node on your machine and these client applications are available in many languages. Further, there are three types of nodes Full node, Light node and Archive Node.

Ethereum software architecture consists of five layers. In other words, these layers are Ethereum Virtual Machine, Smart Contracts, Ethereum Nodes, Ethereum Client Apis, and End User Applications. Furthermore, the implementation of the Ethereum in Go language is available with all the source code files.

System Requirements

Requirements to setup Ethereum include:

Features

Ethereum offers the following key features:

  • Open Source
  • Secure With Cryptography
  • Cryptocurrency Ether
  • Smart Contracts
  • Dapps
  • Ethereum Virtual Machine
  • Multi-layered Architecture

Installation Instructions

Once you have installed the pre-requisites, run the following command to clone the source code

git clone https://github.com/ethereum/go-ethereum

After that, install the Go compiler with the following command

brew install go

Then, run the following command

cd go-ethereum

Similarly, build the geth program with the following command

make geth

If you see some errors related to header files of Mac OS system library, install XCode Command Line Tools, and try again

xcode-select --install

Finally, you can now start your node with the following command

build/bin/geth 

 

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