The world computer general
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Ethereum
The world computer
Dr. Gavin Woodco-founder and lead developer, ethereum project
@gavofyork
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What, then why. Not how.
Break it down
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Important Things to Forget
Coin
Crypto
Currency
Bit
Ledger
ChainBlock
Transaction
Hash
Proof of work
Proof of stake
Consensus
Fork
Miner
Sign
ASIC
Curve
Contract
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What is Ethereum?
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It’s a Computer, Silly!
SlowCode runs 5-100x slower that natively compiled
Expensive to useBasic computation, memory and storage costs are ~1950s levels
Not always immediately decisiveActions of last 60s may be reorganised
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Sounds. Awesome.
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Actually, it is.
Truly Global SingletonOne computer for the entire planet now and forever
Cannot Fail, be Stopped, be CensoredNo authority, government or corporation behind it, resistant to attack
UbiquitousWhere ever there’s Internet, there’s Ethereum
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Natively Multi-UserHas as many accounts as is needed
Natively Object-OrientedEncapsulation enforced in “virtual silicon”
AccessibleWhere ever there’s Javascript, there’s Ethereum
Verifyable & AuditableAll code honoured now and forever
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Simile
Internet is to communicationas
Ethereum is to computation
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External account
Object (code)
message
Storage
The World Computer
The WorldComputer
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Guarantees
AtomicityEntire operation runs or nothing does
SynchronyNo two operations can interfere with each other
ProvenanceAll messages (method calls) can be inspected to determine caller address
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Guarantees
PermanenceObject’s data are permanent
ImmortalityObject can never be externally deleted - can only voluntarily commit suicide
ImmutabilityObject’s code can never be changed
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Counter
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Alice
Bob
Counter
like(Cake)
Cake -> 1
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Alice
Bob
Counter
like(Reggae)
Cake -> 1Reggae -> 1
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Alice
Bob
Counter
like(Cake)
Cake -> 2Reggae -> 1
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Objects can Call Each Other
e.g. Multi-signature “Marriage contract” could act as individual in terms of voting
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Charlie
Marilyn
Counter
Cake -> 2Reggae -> 1
Marriage
Charlie,Marilyn
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Charlie
Marilyn
Counter
auth(Counter.like(Cake))
Cake -> 2Reggae -> 1
Marriage
Charlie,Marilyn
Pending message: Counter. like(Cake)
Auth: Marilyn
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Charlie
Marilyn
Counter
auth(Counter.like(Cake))
Cake -> 3Reggae -> 1
Marriage
Charlie,Marilyn
like(Cake)
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Only Changes Cost
Network takes fees for operations that alter objects.
Operations that merely inspect the object are gratis.
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Counter
Cake -> 3Reggae -> 1
winning
Cake3 votes
then
Reggae1 vote
Inspect
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Why?
World Computer
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Compared to the walled garden of the server
Ethereum is anInnovation Commons
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Servers are Walled Gardens
Interoperability DifficultReliability, standards, trust, security collude to make it a nightmare
Increased BarriersNaturally supportive of monopolies;
try integrating trade or payment without a third party
CumbersomeServers are expensive to set up and maintain;
Ethereum is always-on, always ready
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Not to mention Privacy
PrivacyLess siloing of user-data; less intermediation; more privacy
SecuritySecurity through nihilism; there’s no server to hack!
AuthenticityAll interactions with the Global Computer are cryptographically signed:
Unauthorised Interactions are Impossible
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Ubiquitous and ethereal
Ethereum is the FirstDecentralised Computer
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Centralisation & Central Authorities
Single point of controlSingle point of failure
Single bottleneck
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Software Development
Individual coders
Strict hierarchy “cathedral”
Open-source hackers “bazaar”
Clones and forks (Github-style)
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Computing
Isolated (no network)
Mainframe
Server/client
Peer-to-peer
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(Rough) Progression of Governance
Anarchy
Monarchy/Empire/Fiefdoms
Plutocracy/Aristocracy
Bureaucracy/“Democracy”
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Distance salesBack-of-magazine (close to zero)
AmazonOne Matchmaker, One Merchant
eBay/Amazon MarketplaceOne Matchmaker, Many Merchants
…No Matchmakers, Many Merchants
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Communication
Word-of-Mouth (close to zero)
Press/Radio/Television
Internet
Mobile Mesh?
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General Theme
Nothing
...strong individual imposes order; progress to...
Centralisation
...order enables cooperation; progress towards...
Decentralisation
Efficient
Resilient
Scalable
...or natural order?
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A bridge across trust boundaries
Ethereum Commoditises Trust
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Ethereum
Platform for Zero-trust Computingfor
autonomous tradingsmart contracts
interoperable infrastructurepermissions management
trust webs ...
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Underpins, specifies and enforces dealings
Ethereum as the Court of the Internet
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Ethereum & Crypto-law
Uses blockchain to implement arbitrary social contracts without a central server
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Pivotal in the (re-)decentralisation of the Internet
Ethereum and the Serverless Internet
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Ethereum & Web3
Infrastructure for the ITC revolution
Ethereum Zero-trust computingWhisper Private asynchronous bulletins
Telehash Private realtime commsIPFS/Swarm Decentralised data distribution
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Use Cases
Supply Chaintrack & tag assets & materials through the supply chain to aid consumer choice
Decentralised FinanceVouchers, tokens and assets; all programmable
Prediction MarketsCrowd source information through market mechanisms
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EthereumThe world computer
Dr. Gavin Wood@gavofyork
Questions?