What Is Ethereum?

Ethereum: An Introduction
Ethereum a decentralized information storage network used to independently run applications without intermediaries through a blockchain. More importantly, however, is that Ethereum executes code in a Turing-complete Virtual Machine. If Ethereum were not Turing-complete it would not be successful in it’s goal: to create a protocol used for smart contracts, decentralized autonomous organizations (ie: long term smart contracts), and decentralized applications. It seeks to solve bitcoin’s problems by creating a protocol that is aware of it’s value, the blockchain, and it’s current/previous state(s).

Ethereum Virtual Machine:
The Ethereum Virtual Machine (EVM code for short) is a Turing-complete protocol used to understand other types of protocols and code languages. The EVM stacks, memorizes, and stores data while accessing all information regarding transaction information as an output (17). Solidity and other programming languages (such as Vyper, Yul, and Fe) are used on Ethereum compiled through the EVM. When the EVM executes code on a node the blockchain documents it’s state.

Ethereum Upgrades: The Roll-up Centric Roadmap
That problems with Ethereum comes with the transaction cost and speed. Needless to say, these upgrades seek mitigate these issues by implementing Proof of Stake (POS), Sharding, Statelessness, and most importantly roll-ups. The transition from PoW to PoS, sometimes called ETH 2.0 are actually upgrades being built on the consensus layer before being ported over into the execution layer.

Beacon Chain
Beacon Chain which will make the transition from Proof of Work to Proof of Stake. As we saw, Ethereum uses Proof of Work wherein miners are paid in Ether for their work to secure and run transactions through the blockchain. Beacon Chain implements staking, a model that uses Ethereum to run transactions and secure the network. Currently ethereum’s PoS work is held on the consensus layer, whereas PoW operates on the execution layer. Later on this year or possibly the beginning of next year staking will be fully implemented; the consensus layer will be merged with the execution, negating the need for PoW. Staked Ethereum, run through a node, will be paid out to Ethereum holders who help to run transactions on the network.

Sharding
After Beacon Chain is completed, data shards will be implemented. Data shards store data and make it available. Data shards will not be placed on the execution layer but will be used to accelerate roll-ups by feeding data to them from the Ethereum network. After this is completed even if Ethereum’s network continues to be congested, by the time the sharding is implemented in it’s stateless form most people will potentially be using some type of roll-up as an alternative to Layer 1 solutions.

Rollups
Rollups are a new type of blockchain that does not need consensus or a permanent data layer. Their purpose are solely to execute transactions, compress them, bundle them up together, then port them over onto the blockchain they are attached to. They are effectively a second layer (hence Eth 2.0 or Ethereum Layer 2) underneath the underlying chain while using it’s consensus mechanism and data.

Contributors:

References
Rollups:

Premium List SALE:

Merch:

Disclaimer: The information presented within this video is NOT financial advice.

[KM-wqxy]

In other words, Get into ETH before is too high of a price. Don't worry about the dips. It's here to stay. Thanks for the detailed insight!

[shadowthegd]

The long sought after fundamentals video. I recall this being talked about months ago. Good time to remind people why they’re invested lol

[josea.m]

Ethereum is that son that is really good in the school, amazing in sports but is only 7 years old. Great potencial, a lot to change and progress to make. You won't tell him that he will be the best because he is young and that can be bad for him but you will invest in his future.

[pisagornt]

You are by far the best crypto channel to me in terms of Technical Analysis. Now you are talking about fundamentals? This makes me love your channel even more XD

[joncrowley]

This is great! Glad to see you are focused on the fundamentals as well. I'd love to see more of these for other coins/tokens.

[elcrucius]

I am glad some content producers actually make videos that dont just hype up price action and actually take the time to develop a well researched summary of the eth ecosystem. Will be sending this to anyone who asks me about eth. Lot easier to hodl when u see the fundamentals improving yr/yr rather than just stressing out over current price action.

[slk]

If I could like this video more than once, I would. There should be a video like this for each of the main cryptos that the ITC family invests in.

[Steven-czjv]

Can never understand who's disliking this stuff - thanks Ben, keep it up!

[Valderiel]

Thanks for the knowledge drop! Now I can have both Knowledge and Lambos in my garage!

[Yablochka]

Thanks Ben! I've really appreciated all your videos. Your approach is so down to earth. Real knowledge, no hype.

[iamasktr]

When I explain crypto to friends... this is exactly what I always wanted to say!

[theslimfit]

Best informational video on etherium so far

[samsmusichub]

My respect for Vitalik: Chart Increasing

[armhammer]

This is great man, really great! Sometimes I get the feeling that this channel is like 50% about you teaching people how to read graphs and charts. If I could give more than one thumbs up you'd get them dude! THANKS!

[nathanc]

Really appreciate the range of educational videos you provide Ben. You are truly a wonderful source of knowledge within the Crypto space!

[krillnukem]

brilliant - simple clear and informative - biggest dev team in the space - hard not to love Eth

[sodubairob]

That video was much needed and requested - and now delivered. Awesome review of the state of play. Thanks, Ben.

[Dr.Hoffman]

As someone with ETH as their main portfolio bag it's great to see this video...

Excellent 👌😌

[MilesAhead]

00:19 Wow Ben, it's so awesome that you gave a direct shotout to me!!

[DAMASHi.]

This is the most important video in the crypto space right