How does Ethereum work, anyway?

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Source: r/ethereum

Introduction

Blockchain definition

The Ethereum blockchain paradigm explained

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Accounts

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Externally owned accounts vs. contract accounts

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Account state

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World state

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Source: Ethereum whitepaper
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Gas and payment

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There are fees for storage, too

What’s the purpose of fees?

Transaction and messages

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Blocks

Ommers explained

Block header

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Logs

Transaction receipt

Block difficulty

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Transaction Execution

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Contract creation

Message calls

Execution model

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

How a block gets finalized

Mining proof of work

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Mining as a wealth distribution mechanism

Conclusion

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