• Most common attacks happen in smart contracts
• More complexity more bugs

Blockchain

• Blockchain is a global distributed ledger/database that uses cryptographic functions to verify transactions/data sent through the network.
• Nodes/miners verify these transactions, and they get rewarded with cryptocurrency for the effort.
• Ethereum is a global, decentralized computer that anyone can contribute computation power.
• Web3 DApps use smart contracts as their backend.

Smart Contacts

• Computer programs run on a blockchain network
• As programming languages that create smart contracts, we can consider Solidity, Rust (NEAR, Solana), Python (Algorand), and Go, C++ (EOS).

Let’s Learn Ethereum

Ethereum is an open-source, globally decentralized computing infrastructure that executes programs called smart contracts. It uses a blockchain to synchronize and store the system’s state changes and a cryptocurrency called ‘ether’ to meter and constrain execution resource costs.

Blockchain Components

• A peer-to-peer network connecting participants, blocks of verified transactions
• Message (In the form of transaction, state transitions)
• Consensus rules (To govern what makes a transaction valid)
• A machine that processes transactions according to the rules.
• A chain of cryptographically secured blocks that act as a journal of all verified and accepted state transitions.
• Consensus algorithm that decentralizes control over the blockchain, by forcing participants to cooperate in enforcing the consensus rules.