DEVCON1: Understanding the Ethereum Blockchain Protocol - Vitalik Buterin
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Ethereum's Vitalik Buterin presents on the intricacies of the Ethereum Blockchain Protocol.
Speaker(s): Vitalik Buterin
Skill level: Advanced
Track: Execution layer
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Devcon 1 was held in London, United Kingdom on Nov 9 - 13, 2015.
Devcon is organized and presented by the Ethereum Foundation, with the support of our sponsors. To find out more, please visit ethereum.found...
The great thing abut Vitalik is his understanding of economics. I'm totally humbled by this guys gift to world with Ethereum.
ruclips.net/video/zDNGLlemgxA/видео.html
he's quite an intelligent guy
I will never forget traveling to London back then and being in this room. Was a magical time, it’s amazing to see where we have come since then.
Meanwhile, 5 years late over here.
@@eyesforthewise you're still early my friend. god speed.
@@SinghCapital Thank you my friend. Not giving up, I know it's all about the journey.
So great to get the details from Vitalik himself!
It's very rare to see videos on RUclips without a single dislike. That goes without saying, your delivery is fantastic. Keep up!
Now every youtube video has no dislikes :D
@@MarcelloLins he said it 6 years ago
Truly amazing stuff! Mr Vitalik is a true genius. He is a bit awkward when he presents, but he is self-effacing and guileless so his awkwardness somehow enhances his presentations. The audience loves him, you can tell!
Mr. Buterin not Vitalik
A rich man has many “friends”
To me this says there is a lot to learn and keep up with...exciting times for all of us
Vai sifuuuuddeeeeeeeeeeeeee
He's operating on a different plain and I hope he stays true to his decentralization ethos.
Take a drink every time he says "so".
+Austin Williams I'd rather he focused on the content of the presentation than the style of delivery
Ah, just giving him a little bit of a hard time. The content was great and I respect the work he does.
+Austin Williams I'd have him a steak than ask him to stop saying 'so'
lol
Such a fascinating talk that is also quite thought provoking into how we view economics!
This is the best technical explanation of Ethereum I found so far. It all makes so much more sense now. Fascinating stuff!
He’s the creator of it
I just watched a video of the creator of Kotlin explaining how to use Kotlin and I went from having basically no idea what it was to a (very) beginner understanding of it in about 30 mins. It really makes an incredible difference to have the creator of a tool explain how to use it!
I sure hope so
If I didn't understand most of the first 15mins. What videos would help get me there?
Jesus, what a clarity, effective and perfect way to explain.
(Refering to the size of the memory array) "Most of the limits in Ethereum they arent sort of static, they are economic". I think this is the most interesting sentence.
indeed
God, I wish I was smarter, so I could keep up with this stuff.
+J. lol SMASHING HEAD AGAINST WALL!!!
+Cardiff yjlytolm
Everyone starts somewhere, bro.
Good for you for understanding it dude!
Like @J. (Im assuming), I don't come from any form of technical background. I am an investor simply trying to understand Ethereum and it's functionality but this is beyond my technical knowledge.
Having a CS background , even if not complete in the view of a college degree, you can understand the concepts fairly easily with time and dedication. If you don't have the background, i ain't gonna lie, it can be really tough to get a grasp on the matter.
If one works vigorously for a year or two following these steps, will end up learning all about blockchain for pratical development:
Step 1:
Learn C, really learn!
Step 2:
Basic algorithms and data structures, as well as complexity study (very important!)
Step 3:
Learn about bitcoin blockchain, the simplest one, but the starter of all of this!
Step 4:
EOS will be out, so learn EOS or Universa blockchain, together with Ethereum.
Good luck!
I would be a millionare today if i had seen it that time.Vitamin explained so well
Superb presentation with total conceptual clarity that only the founder wisdom can show the world.
12:12 Summary: a rather fairly simple system: a database with contracts (programs) sitting on one computer except the computer is massively globally dsitributed. It's actually a highly secure network backed by tens of thousands of computers around the world.
This is a technical explanation, there are more simplified ones if you want summaries.
How funny when the dogs appeared it makes me think in dogecoin
This concept is still using it today.
Really excellent work. Very interesting and compelling system.
31:23 Vitalik's DOGE reference in 2016 :o He knew it will be huge one day
IT ISN'T. SHUT UP.
This presentation is definitely not for newbies. It was way too advanced for me. It could have been presented in ancient Egyptian hieroglyphics and I would have understood just about as much.
Yes this presentation is meant for software developers.
this is really detailed ,would take some time to digest all that information properly
This guy could be big someday.
What an amazing and simple explanation. I finally understand how the pieces fit. Thank you Vitalik.
this is nuts after ens last airdrop
Amazing stuff, Genius!
To create a general purpose operating system and let them build what applications they want.
-damn, that’s the new internet!
web3
So
and
So much technlology yet it's too hard for you guys to record in mono instead of this stereo audio...
get a life
@@Matt-yp7io get a clyfe
3:03
Hllo bro
I m from Australia. I have signed up in Myetherwallet account with software phrases key. I bought ethereum for $2000. Now after logging in my account, there are so many other address. But I can’t find my exact address. So plz suggest me what should I do now to find my address. I already have my phrase password and address. Help me plz.
Working on a safe investment strategy in cryptocurrency is like expecting periods without no draw down in a fast moving category.
Great explanation
user accounts : controlled by private keys
contracts : controlled by code
ETH price was 3.56 dollars when he was talking about it there now around 3000 dollars
SOMEONE FEED THIS MAN
somebody feed this troll, please. two months and not a single answer.
Here take this cookie.
Why did they allow Vitalik's portal to remain open for everyone to see?
What is considered a node? is every computer on the block-chain considered a node? Does this mean every computer on the block-chain will store all the data for Ethereum? Or is it that only a calculated few computers will be part of the node?
Yup. Node means a computer that runs the Ethereum client. However all nodes don't store the complete history. There are Full/Archival-nodes that store all the history and state of transactions. Other nodes only need to store much less data, like the hash of the block-chain to work.
I learned about hash functions by watching this video: ruclips.net/video/DMtFhACPnTY/видео.html
@@Adielyaakov Hash is just the process of taking some data and outputting some scrambled string that doesn't resemble the original data at all but is used to identify it. Also, using that scrambled string, it's impossible to reverse the process so you can get the original data back.
So "uncles" can re-include "loser" blocks, but wouldn't that have to alter the data/hashes of the "winner" block? He didn't go into the details on how to reconcile that.
i wish i watched this in Jan 2016
Great...
Don’t you mean the JP Morgan blockchain?
Man the more I get to know about decentralized projects the more I realize how wasteful they are... seems to be the biggest problem
wasteful in what sense? because having a huge corrupt centralized system as we currently have looks more wasteful. Also only critical financial operations should be on-chain, while other stuff off-chain. Eventually computers will get very powerful and this will not matter, everything will be possible to run on-chain..
It is useful for me!
Very good
So !
I guess, even if I bumped into this video those 5 years ago, I would still have ignored it, just like now I am going to do :D BUT if I had been a little more curious I would have had a big bag of eth by now. Well, I don't. Waiting for the bear market now hahaha
Blockchains without Proof of Work are ultimately vulnerable to stake grinding attacks(or more inefficient and unpredictable work that is more insecure) . Bitcoin derives its practical immutability from the fact that one must replicate this provable work which becomes insurmountable with each passing moment. Removing Proof of Work removes one principle value of a public blockchain.
I love tech-talks, but what I notice (in allot of talks, not this one in partiuclar) is that these "technical" people who organise these conferences can't just plug the audio from the sound panel instead of some shitty camera-microphone combo.
is ethereum open source can its source code be viewed in?
Yes. In the future, you could google [Project_Name] github. github.com/ethereum/
Just WAO
ethereum private keys of user accounts generated by elliptic curve algorithm
genius
I wonder why he keeps saying "wants." It's distracting.
+grantcivyt I think it's just his accent :-) In many words, his 'T' sounds like 'TS'.
+waywalker Yes. I suppose you can't be this brilliant without some imperfection to make the rest of us feel better.
My precious! We wants it!
Someone needs to tell him what the term ‘nonce’ means in the UK....
Vitalik is pushing a naive assumption that turing complete or general purpose blockchains are better than more restricted blockchains like bitcoin. This is akin to suggesting that people would be better off storing their assets on a smartphone instead of a "restricted" hardware wallet. There are very few use cases for turing complete public ledgers or global general purpose " computers. If you have any suggest use cases for this technology that can offer efficiencies not served by bitcoin scripts, multisig and oracles please let me know.
this was an ice cold take
not whatever it is x, not related, can tellx anyx by anyx nmw and it can all be perfx, idtnerx
What kind of app could create on Etheryum pls. Some one give me an short explaination pls :((
Brilliant. But as fate would have it, I think Holochain could quite possibly outperform even this great plan. Although I suppose it's probable each will have their place. That being said, it is known that at least two ETH genesis addies participated in the Holo ICO as well as he fact Vitalik (above) and Holochain's CEO Art Brock worked on a project together a few years back
wants
I did not understand how 'gas' can prevent hacking. If I wish to do something wrong I am ready to pay 'gas' also.....
It's not to prevent 'hacking', but to prevent running code infinitely
It's to prevent spamming the network. A malicious actor can still spam the network but he'd need a ton of ETH (read $) to do it and he'd have wasted a lot of his wealth. Even Microsoft with its billions would think twice before carrying out such an operation.
30GB is too much for the devices slock.it gonna be creating - Merkle trees
Very interesting, but he should stop smacking his hand!
somebody feed this kid.
hes like only 22 years old here wtf
7:01 script
👍
I thought eth died
lol
Eth is magic ponzi tech it has risen from the dead and will live until the well of greater fools runs dry, we have much more time to ride this pump before it dumps this is world class ponzi tech Bernie Madoff wishes he owned ETH
Microsoft, Intel and JP Morgan are actively working on implementing infrastructure on Ethereum. I'm not making any predictions, but Ponzi scheme may be a bit of hyperbole. I don't think ETH is god's gift to man, but it's making me tangible money. I'm not complaining.
Jesse Rockwell it seems a great tech but making monry doesn't mean it's not a ponzi, that would mean that it is potentially a ponzi
Lol
Can somebody explain what he said using real world examples hahahaha
so...
he has alot of uncles
*SLAP*
Vitalik is my god
Aaand…
So…
So! SO! so! AGHHHHH! IF HE SAYS SO one more time!!!!
This guy creates scamers all around the world
so, ... so, so ... so basically, so .. so, so .. so so so. basically, so, so so
he really needs to stop swinging. it's distracting
why not just build on top of bitcoin? it's looking like it is and always will be #1 these guys just want $, recognition, and fame not like that Satoshi fellow or fellows who till this very day has or have remained anonymous.
Cause you can't
Héctor Urdiales Llorens not right now
Bitcoin is a distributed appendable file. Ethereum is a distributed computing system (with an appendable file). You can't build ethereum on top of bitcoin without fundamentally changing bitcoin
Can you build the same features in the future?
That'd be ethereum ;)
This kid really needs to get himself a girlfriend and get out more often... sheesh
thanks for confirming our progress toward idiocracy.
Dude, you're a loser, lmfao.
U're leaking fat
I guess you’re miserable rn
Vitalik is probably the most important person in a generation and yet most people growing up now will never know, makes me chuckle.
Was the most important person. I fixed your grammar.
Far far away from satoshi…
Jesus Christ, this kid is brilliant.
ETH is like the HTTP// in every internet address request. Or the eggs in every cake ever baked. Damn. This is gonna be so huge a game changer. I'm thrilled to be alive to witness it in it's emergence. Still when I tell people, they ask "Huh?" And I tell them to mark the date, time and remember that the conversation came from me--a messenger.
@@kathrynj.hernandez8425 and you were absolutely correct
Very cool stuff. I will definitely be watching this space!
Still watching? We’ve come a long way
An Amazing Genius coupled by such sheer eloquence and clarity in speech: akin to "off-world" intellect in origin.
Amazing speaker, a genius no less. Non condescending too I want to become a proper Maths geek after watching this :)
give the man a sandwich, plz, he looks famished
yeah, one thing you picked up from his presentation. The rest didn't register , I suppose ? I wouldn't worry If I were you, his brain seems sufficiently fed to come up with this.
it registered
ini yang ngehack akun yt si ler?tunggu aja bos bentar lagi ganti nama ni akun lu🔥
Hajar bang
Watching this in 2021, ETH is less than $200 from $5k. What a journey it has been and its only just begun!
Satoshi Nakamoto !!!
I never felt so fucking dumb in my whole life as I did after watching this video.
Why did I never catch that they used the word Shannon in the place of gwei? Am I missing something? 14:15
Hacker you hack the RUclips channel in Philippines his name Kristian pH he took he's channel been namelike this chanel name
Vitalik is awesome person
This is one of the best explanations of Ethereum. Just what I was looking for.
Is there any similar talk for ethereum 2.0?
Know any videos that would help me understand the jargon he uses in the first 15mins??
How can I score a sleuth of pre~mined?
Ethereum on Jan 4th, 2016 ... $0.95
So is slock.it still creating devices...lmfao
He's definitely a smart guy, but how much can he squat?
Александр Мотузов haha, I bet vitalik can run more miles then you. .. .. roasted.
Vitalik: "lets design something like this smartphone..." pointing to a dead Nokia phone what runs Windows.....LOL
r/woosh
Learn,👆 not to sell in a panic when everything goes down and not to buy in euphoria when everything goes up. I advise y'all to forget predictions and start making a good profit now because future valuations are all speculations and guesses. The market unstable and you can not tell if it 's going bearish or bullish. While myself and others are trad! N without fear of making a loss others are being patient for the price to skyrocket. It all depends on the pattern you follow. I was able to make 31.5BTC from 10.4 BTC in just 24 hours of my implementing trades,