Ethereum DApp is the most popular DApp after Bitcoin. It is a decentralized platform that runs smart contracts. Smart contracts are applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third party interface.
These apps run on a custom Blockchain. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given in a smart contract.
Ethereum DApp uses blockchain data structure and proof-of-stake consensus protocol. Ethereum network consists of nodes interconnected to each other. Each node holds an identical copy of the Ethereum database. Achieving consensus needs a mechanism to check whether a block is valid or not. If two different blockchain is encountered, we need to choose a way to find out which one to choose.
DApps are constructed using one or more smart contracts. Smart contracts are written using Solidity programming language. Smart Contracts in Ethereum can be written in several programming languages including Solidity, LLL, and Serpent. A smart contract is identified by its unique address. Smart contracts are deployed or invoked using the Ethereum internal cryptocurrency called ether.
Below are the Ether denominations.
- 1 Ether = 1000000000000000000 Wei
- 1 Ether = 1000000000000000 Kwei
- 1 Ether = 1000000000000 Mwei
- 1 Ether = 1000000000 Gwei
- 1 Ether = 1000000 Szabo
- 1 Ether = 1000 Finney
- 1 Ether = 0.001 Kether
- 1 Ether = 0.000001 Kether
- 1 Ether = 0.000000001 Mether
- 1 Ether = 0.000000000001 Gether
- 1 Ether = 0.000000000000001 Tether
Ethereum DApp Execution Environment
Ethereum Virtual Machine (EVM) is where Ethereum smart contracts can be executed. It is a byte-code execution environment. Ethereum nodes take an input and perform a function on them and give an output. Each node does the same calculations and stores the same values.
Will go in depth in the next articles
Please stay enthusiast, as we will go in depth in the next articles.