Neo Smart Economy’s Post

ROAD TO FULLSTACK BLOCKCHAIN DEVELOPER DAY 61: Ethereum Developer Bootcamp by Alchemy University #TWIL #ThisWeekILearnt Today I learnt: Ethereum - Ethereum Features: • Introduction to Ethereum: Ethereum Block Architecture: What is Ethereum? - Technical Definition: Ethereum is a deterministic, practically unbounded state machine with a globally accessible state and a virtual machine that applies state changes. - Practical Definition: Ethereum is an open-source, globally decentralized computing infrastructure executing smart contracts. It uses a blockchain to store state changes and ether (ETH) to meter execution costs. - Visual Definition: Imagine thousands of interconnected computers running the same program, forming a single decentralized computer, Ethereum. Properties of Ethereum - Global Singleton: Ethereum is a unique, globally accessible computer with no physical presence in any single location. - Censorship Resistance: No authority can shut down or control Ethereum. - Ubiquitous & Accessible: Ethereum is accessible anywhere with internet. Writing to Ethereum requires ETH for gas fees. - Multi-User: Ethereum supports a virtually infinite number of accounts, making it accessible for all. - Verifiable & Auditable: Smart contracts on Ethereum are immutable and censorship-resistant, living on the blockchain forever unless explicitly destroyed. Ethereum vs. Bitcoin Ethereum: Uses Proof of Stake (PoS), Account Model, supports Turing-Complete languages, and has a block time of ~12 seconds. Bitcoin: Uses Proof of Work (PoW), UTXO Model, supports non-Turing Complete scripts, and has a block time of ~10 minutes. The Ethereum Virtual Machine (EVM) The EVM is a virtual machine emulating an environment for running code on Ethereum. It ensures all nodes execute transactions identically. Gas Gas measures the computational cost of operations on the Ethereum network. Different operations have fixed gas costs but the price of gas varies. Gas prevents infinite loops and denial of service attacks by adding a cost to each operation. Understanding Forks: Ethereum upgrades, specified in Ethereum Improvement Proposals (EIPs), can result in forks where nodes update their client software to adopt new changes. Forks can be: - Soft Forks: Backwards compatible. - Hard Forks: Not backwards compatible, potentially splitting the network (e.g., Ethereum vs. Ethereum Classic). Thanks. Here is the link to the material used: https://lnkd.in/dFxjNTyy #Web3 #Blockchain #FullStackDevelopment #LearningJourney #DecentralizedApplications #SmartContracts #ProfessionalGrowth #Web3 #Blockchain #Crypto #BlockchainDevelopment #SmartContracts #Decentralized #DeFi  #dApps #Ethereum #Solidity  #NFT  #CryptoDevelopment #Metaverse #Cryptocurrency #BlockchainTechnology #CryptoCommunity #Web3Development #Decentralization #FinTech #TechInnovation

It's encouraging to see advancements in cross-chain interoperability. Now, developers can quickly begin using the CCIP local simulator. #crosschain #interoperability #ccip

The Top Layer 2 Networks by Development Activity in April

Exciting update in my third week at Web3Bridge In just 16 days, I've dived into various technologies and absorbed a wealth of knowledge. I'm thrilled to share my latest article on Hashnode: "Deploying A Governance Smart Contract on Lisk Testnet: A Step-by-Step Guide." The piece delves into: - Lisk introduction - Node environment setup - Hardhat installation and project creation - Writing, compiling, and testing the governance smart contract - Video tutorial on requesting sepolia ETH and bridging to the Lisk sepolia network - Contract deployment and verification on the Lisk sepolia testnet Read the full guide here and feel free to share your reviews and responses: https://lnkd.in/etH6JeG3 #Web3Bridge #BlockchainTechnology #SmartContracts #TechArticle #Hashnode #LiskTestnet

Polygon Miden Alpha Testnet v2 Enhances Developer Tools Polygon has released the second version of its Miden Alpha Testnet, bringing significant improvements for developers. Second-layer scaling method for Ethereum Polygon has released the second version of its Miden Alpha Testnet. This edition has significantly improved the developer experience with the addition of several new features. Developers can store account or note data transparently […] Polygon Miden Alpha Testnet v2 Enhances Developer Tools #Blockchainscalability #MidenAlphaTestnetv2 #Polygon

Hey Web3 Developers So here is the in depth blog on Scaling Ethereum with Layer 2 Solutions: An In-Depth Guide, with example on how to deploy with Polygon Labs , Optimism Foundation and ZKsync Make sure to read this out - https://lnkd.in/dYM5G2rf

ROAD TO FULLSTACK BLOCKCHAIN DEVELOPER DAY 60: Ethereum Developer Bootcamp by Alchemy University #TWIL #ThisWeekILearnt Today I learnt: Blockchain Storage - Blockchain Data Storage: • Learning Retrospective: Key Takeaways: Merkle Trees Fundamental Data Structure: Merkle trees are a critical component in blockchain architecture, providing efficient data verification and integrity checks. Structure and Function: - Leaf Nodes: Represent individual data points or transactions. - Intermediate Nodes: Created by hashing pairs of child nodes. - Root Node: The final hash representing the entire dataset, ensuring efficient and secure data verification. Use Cases: - Bitcoin: Used to store transactions in a block, enabling efficient and secure transaction verification. - Ethereum: Utilized in various forms, including Patricia Merkle Tries for more complex data storage and verification needs. Ethereum Data Storage Patricia Merkle Tries: - Combination of Radix Trie and Merkle Tree: Optimizes for both efficient data retrieval and verification. Four Key Tries Maintained by Nodes: - State Trie: Contains account information. - Storage Trie: Manages persistent data from smart contracts. - Transactions Trie: Stores transactions within a block. - Receipts Trie: Holds log and event information from contract interactions. Efficiency and Security: - Quick Updates: Allows for efficient changes in the state without recomputing the entire tree. - DDOS Protection: Limited tree depth and recomputation help mitigate certain attack vectors. - Order Independence: The root hash remains consistent regardless of the order of updates, ensuring robust data integrity. Practical Implications for Web3 Development Smart Contract Development: - Understanding Storage: Knowledge of how data is stored and managed on the Ethereum blockchain helps in writing efficient and secure smart contracts. - Efficient Data Retrieval: Leveraging Merkle proofs and Patricia Tries can optimize data queries in decentralized applications (dApps). Decentralized Applications (dApps): - Data Verification: Merkle proofs ensure that data retrieved from the blockchain is accurate and untampered. - Scalability and Decentralization: Efficient use of data structures helps maintain the performance and decentralization of the network, facilitating better user experiences in dApps. Thanks. Here is the link to the material used: https://lnkd.in/dFxjNTyy #Web3 #Blockchain #FullStackDevelopment #LearningJourney #DecentralizedApplications #SmartContracts #ProfessionalGrowth #Web3 #Blockchain #Crypto #BlockchainDevelopment #SmartContracts #Decentralized #DeFi #dApps #Ethereum #Solidity #NFT #CryptoDevelopment #Metaverse #Cryptocurrency #BlockchainTechnology #CryptoCommunity #Web3Development #Decentralization #FinTech #TechInnovation

Enjoy the third in tbe series on how to start your own Web3 project. I hope you find it useful.

ROAD TO FULLSTACK BLOCKCHAIN DEVELOPER DAY 52: Ethereum Developer Bootcamp by Alchemy University #TWIL #ThisWeekILearnt Today I learnt: Blockchain Storage - Tree Data Structures: • Basic Tree Data Structures: Orientation to Trees: - Nodes: Basic units of a data structure. In blockchains, nodes also refer to network nodes communicating data on a peer-to-peer network. - Parent Node: The top node in a tree structure. - Children Nodes: Nodes that stem from a parent node. - Leaves: The nodes at the last level of a tree with no children. Types of Trees: - Simple Tree: Consists of a parent node and its children. - Binary Tree: Each parent has at most two children. - Leaves are the nodes without further children. - General Tree: Any parent with any number of children. - Linked List:A special type of tree with a single child per parent forming a long chain. Tree Vocabulary Summary: - Key: Actual data held inside a node. - Root: The topmost node in a tree. - Siblings: Nodes under the same parent and on the same level. - Subtree: A portion of a tree that can form a new tree with new relationships. When to Use a Tree: - Hierarchical Data Storage: Suitable for data that can be stored hierarchically, like file systems. - Efficient Searching and Sorting: Trees are efficient for these operations due to their structure and rules. - Recursive Algorithms: Often used with trees for efficient data processing. Binary Search Tree (BST): Properties: - Each node has at most two children. - Left subtree nodes are less than the parent node. - Right subtree nodes are greater than the parent node. - Each subtree must also be a BST. Efficiency: -Search time is O(log n), where n is the number of nodes. - Adding new layers increases search attempts by one Conclusion: Understanding basic tree data structures, their types, and vocabulary is crucial for delving into more specific tree structures used in blockchains, such as Merkle Trees. Trees provide efficient data storage and retrieval, which is essential in blockchain databases. Thanks. Here is the link to the material used: https://lnkd.in/dFxjNTyy #Web3 #Blockchain #FullStackDevelopment #LearningJourney #DecentralizedApplications #SmartContracts #ProfessionalGrowth #Web3 #Blockchain #Crypto #BlockchainDevelopment #SmartContracts #Decentralized #DeFi  #dApps #Ethereum #Solidity  #NFT  #CryptoDevelopment #Metaverse #Cryptocurrency #BlockchainTechnology #CryptoCommunity #Web3Development #Decentralization #FinTech #TechInnovation

What Are Decentralized Applications (DApps)?