Hello everyone welcome back. So this time we are going to discuss about Ethereum
and if you know what is blockchain you must have heard the term Ethereum
as well. So let's go a little deeper and understand what exactly it is. Let's
begin then. So let us quickly go to the agenda of today's video. So first of all
we will be talking about what is Ethereum
followed by smart contracts and then features of ethereum
we will also see a case study and also we will see a hands-on exercise on this
particular platform and finally we will be talking about the career
opportunities you can have in this particular domain. So let's begin
So today most of our data or passwords or let's say financial information are
actually mostly stored on cloud and servers which are again owned by
companies like Amazon Microsoft and Google right so this set up has a number
of advantages as these companies deploy teams of a specialist to store and
secure this data and eventually remove the costs that comes with hosting and
uptime but with this convenience there's also vulnerability, as we have
learned that a hacker or a government can simply gain unauthorized access to
your files without your knowledge by simple influencing or attacking a third
party service meaning, they can simply Steal, leak or change our important
information. So what do you think what has to be done to avoid this and the
answer to this is Ethereum. Yes Ethereum is one of the newest technologies
which uses a blockchain to replace Internet third parties those that store
data, transfer mortgages or keep track of complex financial instruments. So what is
Ethereum. Let's go a little deeper now Ethereum is an open software platform
which is based on blockchain technology that enables developers to build and
deploy decentralized applications. It also provides a giant network of the
users on computers so the simplest way to think of Ethereum is as a
programmable Bitcoin. Now Ethereum allows participants to run decentralized
blockchain applications which are called smart contracts. Now these smart
contracts are highly secure and run with a perfect digital history making
them auditable, transparent and immutable so these smart contracts can be
programmed without any chance of downtime, censorship or fraud
now the etherium blockchain and smart contracts form a shared global
supercomputer that can simply move value, represent ownership, transmit tokenized
assets and digitize many more complex real world applications so this lets
developers create markets shared Ledger's digital organizations and many
more things that have not even been invented and all without a middleman and
all imitable much like what the internet it for the information so Ethereum has
a part to open up the financial system to the world and build a safer, more
accessible and fair economy for literally everyone. So like Bitcoin
Ethereum is a distributed public blockchain network so both Ethereum
and bitcoin are often compared to each other but the two were designed with different
visions and goal. Now bitcoin is a widely used system for let's say generating a
shared world ledger that securely records Bitcoin balances
and on the other hand Ethereum again uses many of the same systems in order
to generate a shared world computing platform that can flexibly but securely
run any application users want to code so for you guys to understand let us
take an example of schlocket so it is a german start-up specialized in
blockchain and IOT applications which are moving to realize the vision of the
smart contracts embedded in IOT enabled devices now the company will sell smart
locks linked to the ethereum blockchain, when someone purchases a slock it will
be connected to this slock smart contract in the etherium blockchain and
controlled by it now the owner of a slock can set a deposit amount and a price for
renting his property and then the user will pay that deposit through a
transaction to the etherium blockchain thereby getting permission to open and
close that smart lock through their smartphones. Now the deposit will be
locked in the etherium blockchain until the user
decides to return the virtual key by sending under transaction to the
Ethereum blockchain. Then the contract will automatically be enforced and the
deposit will be sent back to the user - the price for the rental which will be
automatically sent to the owner of this slock so all of this actually happens
without any assistance from any third party and all this mechanism is carried
out using ethereum smart contract. So now that you know how actually it works let
us also list out some of the features of ethereum. So the main features of
Ethereum are crypto currency, smart contracts, the decentralized autonomous
organization and smart property. Now etherium is a blockchain based
implementation and it requires a form of the monetary system so it has its own
internal cryptocurrency called ether. Now it has also get a concept of smart
contracts which is basically an application that would run on blockchain
and process all the information present on the blockchain aspect, then the third
feature is decentralized autonomous organization. So it works with popular
cryptocurrency and digital ledger operations that many businesses are
moving towards the transparency. It also includes this concept of smart property
wherein anyone could digitally transfer their property without having to face
any of the hassles for exchanging the property or validating the documents
so recently with 30 large corporations such as Microsoft, Intel, Ing and JP Morgan
chase form the enterprise Ethereum Alliance which is a EA so these
corporations are actually built in technology and decentralized
applications on the ethereum blockchain. JP Morgan, one of the biggest American
multinational investment banks. So they are also using blockchain technologies
as tools to improve the global economic system so in one system they were
looking for a payment originated for payment beneficiary, a payment originator
for the banking system and the payment instruction to the distributed ledger on
a peer-to-peer network and finally the payment originator for Bank internal
system and to achieve all this the organization opted for Ethereum
technology. So this ambitious project actually covers both on chain and off
chain payment processing allowing customers to healthily
and smoothly migrate their systems to Ethereum technology through JPMorgan as
a result J P Morgan business strategy increases its investment spectrum and
its vision would allow a considerable improvement not only in the provided
services but also in its daily processing capacity and now let's check
out how actually does it work okay so in this particular portion I'm going to
tell you guys that how you can actually send or receive or buy or sell ethers
using this particular Ethereum platform right? so for sending or receiving ethers
you need to have one wallet added to your extension Chrome extension, so this
is a wallet that we are using and we are calling it metamask.io so you
simply need to go to this particular domain, type in this domain and then you
need to type in here get chrome extension. Once you type in over here
you'll be led to this page now since I have already got this added to my chrome
and that is why it is giving me the option which is added to Chrome but for
you guys it will be like add to Chrome so simply click on this add to Chrome
and then just follow some security procedures and ultimately this would be
added to your chrome just like this. Okay so this is a wallet so there are again
many other wallets that can be used for sending and receiving ethers but I'm
going to use this one. So this is our wallet let me open this one. Now what are
these oh I have already talked in detail about all this in my previous video
which was based on smart contract you can also find building of the same more
video on the comments below but again to give just a little bit of brief about it
so this is the main aetherium network where we actually deploy our smart
contracts right and all these are test networks
so basically developers use it so whenever they have to just test it you
know about how is it functioning how your code is functioning so you use all
these networks so write them all so to you know for a test purpose I am going
to use this roof send test Network so see I have already got this much of
ether right so first of all we need to you know send
receiveth her so for example if I need to send this much of ether to someone
else's account so for that I need to have either in my account so I am
already got it but for you to god this ether in your account you simply click
on deposit so here best faucet get ether
let it get open for us okay so here you can click as many times as you want I
mean the number of ethers you want to be deposited into your account and then it
is going to take a few time a few moment you know while the ether gets deposited
to your account so till then let me explain you guys some other features of
it so for example let's say I need to transfer let's say for ethers from my
account one to someone else's account now see it has become eleven so the
ether has been on all the ethers that I actually cleared over there have been
deposited to my test account now for example if I need to send let's
supporters to someone then I need to know the account address of that
particular person now let me tell you something guys that here as well you
have got two keys right one is public one is private so let me take an example
of bank account it's not a time relating banking to ethereum blockchain but just
to make or give you guys a clear concept of it I am taking this example so for
example in bank account as well when you have got net banking so you've got two
things one is your bank account number and another one is one and another one
is your net banking customer ID so whenever you need to make any kind of
transactions like if you want to send some money or receive with some money
from someone so you always tell the person your bank accounts number and
never your customer ID number in this Bank scenario this bank account number
is actually your public key which you can share with anyone if you want a
particular transaction to take this however your customer ID is your private
key which you are always advised not to send with anyone so the same happens in
this case if you want to make any transaction so this see this is the ID
which has been copied so this is my public address which I can tell anyone
right so for example if I need to send some money so let me again create one
more account let's say I have created account already but for you guys let me
through it one more account let's say create account and just create it so see
account three has been created and this is the public address for
round three now let's go back to account one and now let's say I want to send
some amount of ether so let me click now I am sending it from account one this is
my public network sorry this is the amount of ether you know that is there
present available in my account now from account one let's say I want to send to
account three and that is what is asking me recipient address so right now it is
around three I have clicked on it now amount of either that you want to
send let's specify this let's say it's for ethers and then you can simply click
on next okay so of course from account one to
account three how many ethers this men eaters which is worth of this many of
your fiat currency right and I'll confirm it okay so it is again going to
take a while you know so that the transaction can take place so this is
how actually you send it and let us wait for a while so that it will get deducted
from account one and will get deposited in account three
so see we have got the confirmation stating transaction 3 confirmed view on
FS scan so now here also you can see now I'm left with only 7 liters for ethers
have been deducted if I go to account 3 then see for ethers have been deposited
in account 3 so this is how you send your ethers right or receive ethers now
this is what so this is actually telling me the status of my transaction which is
confirmed right so let me click on that to say this is nothing but the ether
scan so whenever you have made any kind of transaction on ethereum blockchain so
you can see everything all the history on ether scan so this is the particular
transaction that I just made so the ID of that particular transaction that is
hash is nothing but this now status is successful so this is the block under
which I perform this particular transaction time stamp one of the very
important feature of you know blockchain so it is going to give you exactly when
this transaction took place that is what it is showing and then this is the
public address I was talking about what public key you can see so this is the
from account so from this account to this account the transaction you know
has been taken place and then how I mean what was the amount that I transferred
so that was for ether and all those stuff so you can get actually all this
information over here so this is a particular transaction right but if I go
to ether scan let me show you guys
okay so III scan again as I told you guys that blockchain actually supports a
transparent nature right that is one of the major features of blockchain or
let's say theorem dropship and that is why it is very much transparent so even
if you do not have any kind of account or you do not use blockchain or anything
just you as a viewer and simply go to ether scan and check what all is
happening in this world exactly so here these all are the
transactions right so for example then we go on the top so this is the recent
block which has been mined by this particular person and then in reward he
has or the this particular Club actually has got this much of ether and then
under this block fifty-seven transactions have taken place and if I
click on this see you can see every transaction every single transaction
over here let me go back and just click now so see all these transactions have
taken place under this block right that was it was showing now recently it has
become now eighty-four transactions so here actually each and every detail you
can simply get that is what I wanted to tell you guys so this is a particular
transaction and this is the entire world of transaction so whatever you want you
can simply go and check it out so this was all about how do you actually send
or receive ether you know on this ethereal platform but then if you want
to buy or sell ether then for that you need to go to any universally exchange
platform so for that let me again go back to me in Italian platform and here
deposit so say this is coin base which is the world's most popular way to buy
and sell Bitcoin aetherium etc so we are going to use again this one only because
that's the universally and most popular way to you know exchange the ethers so
continue to point base okay so here it's very simple so you simply write the
amount for example at say thousand okay so forth
thousand rupees you want to you don't create or establish the transaction so
you put the amount over here and then you are also mention your email address
over here and then by email you'll be getting the status of your transaction
now let me tell you is how it actually works so for example if you want to sell
let's say two ethers so you'll give a request in the pool of requests that you
want to sell to Eaters I mean just by giving the amount fiat currency over
here and then in the same pool of requests there must be someone who might
be needing one need ether I mean who might need to buy one ether
or two ether then your request would get matched with that person's request and
the transaction would take place and then you'll be informed using your email
ID so that is how this actually you know happens in this particular pool of
requests so whatever fiat currency is there for
that much of either you will be getting that and this is how it works so that's
how it's very simple so for buying and selling you use this platform this
exchange platform you mention your amount you give it email address and
accordingly then the etherium platform or exchange would take care of itself
and would let you know the status of this transaction as and when it would
happen so this was very easy friends and I hope you get an idea about how do you
actually you know send receive or sell by ether on this particular platform now
let's go ahead so I hope you have got a fair idea about you know how this
platform works and what are the uses of ether and so on so now let's move ahead
so these decentralized applications of aetherium can actually disrupt hundreds
of established industries just like finance real estate insurance and so on
so considering the trends and advancements in the technology it's
safer to say that the prospects of aetherium as a platform seems bright and
this is the right time to start your career in this field of blockchain and
aetherium so thousands of opportunities are actually awaiting you
you can simply be a blockchain aetherium developer and aetherium architect or an
italian designer so if you wish to learn aetherium and build your career in
blockchain technologies you can simply visit a branch and certification
training course today so entirely bacterium blockchain training helps you
in understanding the fundamentals of ethereum blockchain idioms smart
contracts and cryptocurrency and also designing a private blockchain with
aetherium and finally solidity language for implementing smart contracts and
with this we come to the end of this video now let me summarize what we
discussed in today's session so first we started with the importance and
definition of aetherium then we moved on to the theorem smart contracts through
slog example and etherium features we also saw a demo video on ethereum
and finally a case study on JP Morgan and at last we discuss career
opportunities and ethereum blockchain so thank you so much guys for watching this
video and if you have any query you can simply contact us anytime I hope the
video was informative for you please like the video and if you have any
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