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Ano ang Ethereum? (ETH)

The Beginner’s Guide to ETH


Isa sa mga pinaka ambisyosong proyekto sa blockchain, ang Ethereum (ETH) ay naghahangad na gamitin ang cryptocurrency upang i-decentralize ang mga produkto at serbisyo sa isang malawak na hanay ng mga kaso ng paggamit sa pera. 

Kung ang Bitcoin ay naghahangad na magsilbi bilang isang digital gold, ang Ethereum ay kumuha ng ibang diskarte, sa paglalahat upang ang mga user nito ay makakalikha ng kahit anong bilang ng mga custom asset at mga program na namamahala sa kanilang operasyon.

Humantong ito sa (maharil hindi perpekto) paghahambing na ang Bitcoin ay higit na katulad ng email (isang napakalakas, special-use na tool), samanatalang ang Ethereum ay may higit na pagkakapareho sa web browser (ang layunin nito ay upang paganahin ang mga program user na maaaring makipag-ugnayan at lumikha).

Ang analohiya ay mabisa na maipabatid ang saklaw ng Ethereum, tulad ng paglikha ng team sa sariling virtual machine at scripting language (kinakailangan upang ma-execute ang mga programa nito), upang makalikom ng pondo sa pamamagitan ng pagbebenta n gsariling bagong pera (ether) at magpakilala ng isang konsepto na tinatawag na "state" sa cryptocurrency. 

Upang gawing simple, ang Ethereum ay sumusubaybay sa mga pagbabago (ang mga transaksyon na nakumpirma sa blockchain) pati na rin ang potensyal na pagbabago na magaganap pa (state), isang pagkakaiba na pumapasok sa puso ng vision nito. 

Sa Ethereum, ang mga multi-step computing functions ay tinatawag na “smart contracts.” Ang mas malalaking konstruksyon ng madaming smart contracts ay tinatawag naman na decentralized applications (dapps). 

Habang sinauna ngayon, mayroong paniniwala ang mga naturang program ay maaaring magamit isang araw upang lumikha ng software na gumagaya sa pag-uugali ng ilan sa mga pinakamalaking kumpanya sa internet sa buong mundo. 

Ang Amazon, bilang halimbawa, ay maaaring isipin na isang uri ng state service na nagkokonekta sa mga buyer gamit ang isang simpleng web interface sa isang napakalaking, laging nag-u-update ng imbentaryo na naka-imbak sa mga database. Sa kasong ito, isang for-profit na kumpanya ang gumaganap na middleman at tagapangasiwa ng teknolohiya  

Ang Ethereum, sa ganitong paraan, ay maaaring matanaw bilang isang maagang pagtatangka upang magamit ang mga cryptocurrency upang makalikha ng competitive markets na namamahala sa iba`t ibang bahagi ng mga serbisyong ngayon-monopolistic na.

Hanggang sa 2020, ang mga developer ng Ethereum ay nasa maagang yugto ng paghahatid ng ideyang ito. Sila ay naghahanda ng isang overhaul ng core code na tinatawag na “Ethereum 2.0” na maghahatid ng mga bagong pagbabago.

What is Ethereum (ETH)?


Sino gumawa ng Ethereum?

Ethereum was the brainchild of then 20-year-old Russian-Canadian Vitalik Buterin. 

According to Buterin, he was inspired to create Ethereum after realizing it might be possible to apply Bitcoin’s design more broadly to mitigate the “horrors” of centralized web services. 

In a famous example, Buterin cited slights suffered playing the popular online game World of Warcraft, as developers at the time could make arbitrary changes despite the wishes of users. 

Buterin would later receive a Thiel Fellowship to pursue Ethereum full time, and set to work creating a non-profit to help launch the project. In early 2014, the Ethereum Foundation sold 72 million ETH in an online crowdsale, which generated roughly $18 million in funding for the effort. 

Ethereum would go on to attract a passionate community of users, many of whom continue to spearhead its development today. 

Other notable community figures include: 

  • Gavin Wood – Author of the Ethereum yellow paper specifying its virtual machine

  • Jeff Wilke – Creator of the first Ethereum software implementation 

  • Joseph Lubin – Founder of Consensys, a major ethereum investment incubator 

  • Vlad Zamfir – Cryptographer focused on protocol development and game theory.

A more extensive list of founders and contributors can be found on Ethereum’s Wikipedia.

Paano gumagana ang Ethereum?


It can be said there are always two Ethereums, Ethereum as it works today and the Ethereum the developers hope to one day complete when they finish their roadmap. 

So, while Ethereum has accomplished much since its 2015 launch, it’s important to remember that not all of its proposed features have been implemented.

Ethereum Blockchain

Today, Ethereum uses proof-of-work mining (in which computers burn energy to solve puzzles needed to create blocks) to power its blockchain. (Miners batch transactions into new blocks roughly every 12 seconds).

Developers write programs (smart contracts) in Solidity or Vyper, the project’s programming languages, and then deploy this code on the Ethereum blockchain. 

All nodes (computers running the software) maintain a copy of the Ethereum Virtual Machine (EVM), a compiler that translates the smart contracts written in Solidity and Vyper and executes their changes in transactions on the blockchain. 

In 2016, a group of Ethereum users rejected a proposed code update, choosing to continue running older code. As a result, a new cryptocurrency called Ethereum Classic was created.

Proof-of-Stake

With the transition to Ethereum 2.0, Ethereum plans to alter its core operating system, migrating to a system called proof-of-stake (PoS). 

Under a proof-of-stake model, any user who owns a minimum of 32 ETH could lock those funds in a contract, which then would earn rewards for solving computations needed to add new blocks to the blockchain. 

More details on this transition can be found in a 2020 Kraken Intelligence report.


Bakit may value ang ETH?

Ang pangunahing cryptocurrency na nagpapatakbo sa Ethereum ay tinatawag na ether, kung saan ang isang bahagi nito ay minted sa bawat block at ipinamahagi sa mga miner. 

Kapansin-pansin, ang Ethereum ay hindi nililimitahan ang halaga ng ether na maaaaring i-mint. Sa halip, ang supply ng ether ay nai-program upang madagdagan ng 4.5% bawat taon, na may 2 ETH na naka-mint ngayon bawat block. 

Ang reward na ito ay nabawasan na ng dalawang beses sa kasaysayan ng network nito at orihinal na itinakda sa 5 ETH. 

Ang mga pagbabago sa monetary policy sa pangkalahatan ay iminungkahi ng mga developer.Ang mga node at mga miner na nagpapatakbo ng software ay maaaring tumanggap o tumanggi na mag-upgrade ng kanilang software upang tanggapin ang pagbabago. 

Ang mga miner ay kumikita rin ng ETH sa form ng mga fee para sa mga computation na naproseso ng network. Ang mga fee ay hindi bayad sa ETH sa halip ay bayad sa "gas", isang espesyal na computational unit. 

Ang mas kumplikadong computation, mas maraming gas na isang programa ang kakailanganin. 

Ang ibig sabihin nito ang kahit anong mga application o protocol na pinapatakbo sa itaas ng Ethereum ay dapat na patuloy na bumibili at gumagastos ng ether, lumilikha ng patuloy na demand para sa asset.

Bakit ka gagamit ng Ethereum?


At a time when many cryptocurrencies have struggled to generate a single use case, Ethereum is perhaps unique in that it has passed through several distinct phases of strong demand. 

Private blockchains 

Among the first to embrace Ethereum were major banks and institutions, who took advantage of its open-source code to create proof-of-concepts and R&D initiatives in 2015 and 2016.

Those that didn’t copy the Ethereum code were often inspired by its approach, including the Linux Foundation’s Hyperledger and R3’s Corda, projects that copied parts of its architecture but discarded the idea they needed a new cryptocurrency.

Major banks and corporations would eventually back Ethereum more directly by creating the Enterprise Ethereum Alliance, a non-profit whose aim at its creation in 2017 was to bridge the many private bank blockchains with the main Ethereum blockchain. 

ICOs

Entrepreneurs would later flock to Ethereum in 2017 with the thesis that its platform could be used for fundraising by creating new cryptocurrencies and selling them to global consumers in what came to be called “initial coin offerings” (ICOs). 

ICOs took advantage of the ability Ethereum gave developers to create new crypto assets on top of its blockchain, using token standards without creating a new codebase from scratch.

Enterprising projects that now have their own live blockchains and cryptocurrencies (like Tron and OmiseGo) would launch as tokens on ethereum, later delivering new technology.

DeFi

The most recent wave of innovation on the network, decentralized finance (DeFi) has found entrepreneurs using Ethereum to create protocols that replicate traditional financial services.

These have included projects like MakerDAO, which designed a protocol that decentralizes the management of a cryptocurrency pegged to the U.S. dollar. Other DeFi projects have sought to automate and decentralize financial services like lending and borrowing.

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Ngayon ay handa ka nang gawin ang susunod na hakbang at bumili ng ilang Ethereum!