Scrolling through a typical app store, for example, you’ll see a variety of colorful squares representing everything from banking to fitness to messaging apps.

With ethereum, servers and clouds are replaced by thousands of so-called “nodes” run by volunteers from across the globe (thus forming a “world computer”).

But with this convenience, there is also vulnerability.

Before, we can understand what is the ethereum we have to understand the internet as well

Authentication and authorization, vital to digital transactions, are established as a result of the configuration of blockchain technology.

 

Authentication and authorization supplied in this way allow for interactions in the digital world without relying on (expensive) trust.

Now, with the authorization part, this is what we have:

Authorization – having enough money, broadcasting the correct transaction type, etc – needs a distributed, peer-to-peer network as a starting point.

In the case of blockchain technology, private key cryptography provides a powerful ownership tool that fulfills authentication requirements.

Fine then, I will go next 

 The work of securing digital relationships is implicit — supplied by the elegant, simple, yet robust network architecture of blockchain technology itself.

Its great to have everyone here for this week! Lets continue with our job

Hi everyone! Again welcome to week No. 2!

This is a combination of proven technologies that we must apply in a new way.


As an example: It was the particular orchestration of three technologies (the Internet, private key cryptography and a protocol governing incentivization) that made bitcoin creator Satoshi Nakamoto’s idea so useful.

So now, coming up next: Transactions are broadcast, and every node is creating their own updated version of events.

This is also the most distinct and important feature of blockchain technology.

Its like we have clients that can sue the servers and they put the information creating a data base. Pretty much... I think...

Yes we do remember the rules & we do remember we have to be polite! I think we should continue with the subject

Ok, so we need a little bit further explanation on this one to make things work

Well its a long explanation, I mean with the blockcahin many people can write information, like entries into a record

Ok, so now that we are all on the same page I guess we can continue right?

It is great! I mean, all together like family gathering ideas & making sure we get new member is awesome!
WELCOME TO WEEK NUMBER 2