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However, as skeptical observers are keen to point out, this is based on Buterin’s analysis, and on techniques that have yet to be deployed on a public blockchain.
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Great, so I will continue:
Ethereum wants to solve this problem using ‘cryptoeconomic incentives’ that drive actors in a system to act a certain way – in this case, ensuring that nodes are passing on valid information to other nodes.
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Hello people 
I am ready to continue so we can learn more & more everyday
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The problem here is that the process isn’t exactly trustless, since, in this model, nodes need to rely on other nodes.
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If a node needs to know about transactions or blocks that it doesn’t store, then it finds another node with the information it needs. 
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As mentioned, one problem is that each node needs to store the updated state of each account on the network.
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Making full nodes more difficult to run would further limit the number of people that can verify transactions themselves.
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That’s because ethereum depends on a network of ‘nodes’, each of which stores the entire ethereum transaction history and the current ‘state’ of account balances, contracts and storage. 
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Ethereum and bitcoin use a combination of technical tricks and incentives to ensure that they accurately record who owns what without a central authority.
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While ethereum developers might like to highlight how the flexible smart contract platform differs from bitcoin, for example, it isn’t unique in regards to scalability.
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Like other public blockchains, ethereum intends to support as many users as it can.
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The tools that you pick up today might be obsolete next year, and some mining pools might fall away while others emerge, so it’s worth keeping aware of industry shifts. |
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So with this mining pool: One point to keep in mind is that mining pools have different payout structures.
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That’s why miners ‘pool’ together their computational power into ‘mining pools’, to improve their chances of solving the cryptographic puzzles and earning ether.
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If you’re interested in mining ‘real’ ether, you need to install mining software. 
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We have to take in consideration that it’s also possible to mine ‘test’ ether on your own private network to experiment with smart contracts or decentralized applications. |
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Once installed, your node can ‘talk’ to other nodes, connecting it to the ethereum network.
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Im so excited we are already in week number 3! I just cant believe how fast we are going  |
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Once installed, your node will officially play a part in securing the ethereum network. 
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Once installed, your node can ‘talk’ to other nodes, connecting it to the ethereum network.
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