How does Ethereum work, anyway?

Source: r/ethereum

Introduction

Blockchain definition

The Ethereum blockchain paradigm explained

Accounts

Externally owned accounts vs. contract accounts

Account state

World state

Source: Ethereum whitepaper

Gas and payment

There are fees for storage, too

What’s the purpose of fees?

Transaction and messages

Blocks

Ommers explained

Block header

Logs

Transaction receipt

Block difficulty

Transaction Execution

Contract creation

Message calls

Execution model

Source: CMU
PC: 0 STACK: [] MEM: [], STORAGE: {}

How a block gets finalized

Mining proof of work

Mining as a wealth distribution mechanism

Conclusion

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