Janani Sathish - Learn Ethereum Solidity: Fundamentals for Beginners with Example Code Step by Step All you need to know about Ethereum Solidity

Bitcoin, Ethereum, Litecoin, and of course our little friend DOGE - We have been hearing a lot of stuff about these cryptocurrencies nowadays. Still, Ethereum is the one that stands out of the crowd in terms of use case, popularity, and it has also crossed 3300 dollars as of 4th May.

I mean, can you imagine those people who bought or mined this coin when it was just shy of 100$ and still holding it. In this video, we are not talking about whether Ethereum is going to make you a billionaire or something, but about its use in our day-to-day transactions in the future and also what other stuff this ever-growing crypto can be used for First, lets see what Ethereum is... Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether (ETH) is the native cryptocurrency of the platform. It is the second-largest cryptocurrency by market capitalization, after Bitcoin. It is also the most actively used in the blockchain. It was proposed in 2013 by programmer Vitalik Buterin. Development was crowdfunded in 2014, and the network went live on 30 July 2015, with an initial supply of 72 million coins. It has been used for decentralized finance, the creation, and exchange of NFTs, and also utilized for many initial coin offerings (also known as ICO). But recently some new use cases also came into play such as in Real Estate, web browsing, gaming, advertising, Escrow, and most importantly Digital Identity Management - thats the fancy way of saying protection against identity theft and data monopoly. Ethereums permission less blockchain which allows for the creation and development of applications without oversight from a central authority creates a tremendous space for experimentation. There have been thousands of decentralized apps (also known as dApps) built on Ethereum, millions of users, and many billions of dollars generated by dApps. Now lets see some of the major use cases in detail which we think might be a new norm in future... DeFi

Decentralized finance is the newest innovation to see an avalanche of use and growth on Ethereum. DeFi platforms are reinventing traditional financial products and services, adding programmable, decentralized, and censorship-resistant features to create brand-new financial products. For example - The platform offers peer-to-peer borrowing and lending, interest on crypto holdings, decentralized exchange mechanisms, stablecoins, and composable features that maximize passive earning opportunities. In February 2021, the total value locked in DeFi platforms marked an All-time High close to 40 Billion dollars. Imagine this - Its so much money that you can buy an average priced mansion every single day for one year straight in Beverly Hills and still have billions of dollars left to enjoy for the rest of your life Another very recent attraction and hype are - NFTs - where Ethereum is used a lot. Non-fungible tokens (NFTs) are unique, indivisible, and provably scarce digital assets that are useful in gaming, art, and ensuring the provenance of luxury goods. The hype over NFTs began in late 2017 with the launch of CryptoKitties digital cat collectibles, but since then, the applications for the technology have grown rapidly. NFTs have attracted an increasingly mainstream audience to cryptocurrency and blockchain technology. The NBA, Ubisoft, and LVMH are also experimenting with NFTs. Industries from healthcare to entertainment to real estate are creating novel tools on the protocol to enhance efficiency, trust, and democratize access to various types of services. For example, Ethereum provides an ideal solution for managing royalties in the music industry by distributing tokens that represent ownership rights and facilitating automated and seamless distribution of royalty payments. Cross-border payments can be sent directly, quickly, and inexpensively by using a peer-to-peer protocol like Ethereum. Everex, Abra, and BloomX - these companies use blockchain technology to cut out various intermediary banks that charge fees for currency exchange. But this isnt something another cryptocurrency like BTC cant do.

For payments, especially Ethereum is kind of downgraded as it has high GAS fees. Ethereum Gas is a unit that measures the amount of computational effort that it will take to execute certain operations. The High Gas Fees is one of the only major cons for Ethereum. The people over ETH have started implementing a series of upgrades called Ethereum 2.0, which once fully upgraded - will move to Proof of Stake instead of its current Proof of Work Concept - which is bad news for those crypto miners who have invested millions. This Ethereum 2.0 Upgrade would make the GAS price go way down for transactions, but we arent expecting the full upgrade until 2022. So, would Ethereum be used for your day-to-day transactions? Maybe, and even if its possible, thats a long way out. Certain companies are already using Ethereum in their services or experimenting with this tech. Some big names include Amazon (for supply chain and retail), Signature Bank, Citigroup, etc (for Banking and Financial Services), Google, Microsoft, VMware (for software and Information Technology). Now, lets compare Ethereum to Bitcoin... Bitcoin's primary use case is that it is a store of value and a digital currency - this makes it more like an alternative to Gold, but with comparatively higher volatility. Ethereum can also be used as a digital currency and store of value, but the Ethereum network makes it also possible to create and run decentralized applications and smart contracts. Ethereum blocks are validated approximately every 12 seconds on its network as opposed to approximately every 10 minutes on Bitcoin. Additionally, Bitcoin has a fixed supply of 21,000,000 coins, whereas Ethereum has no supply cap. Currently, Ethereum and Bitcoin are both mined through proof-of-work and can be purchased on cryptocurrency exchanges. So, if you want to invest long-term - sure, Bitcoin would be your choice because of its limited supply and ever-increasing demand.. But in terms of implementation and use case, Ethereum would be anyones choice. So, what about the price of Ethereum? Will it reach, or even cross the Golden $10,000 mark? Its price will increase until the demand increases. Since its one of the most popular cryptocurrencies with an increasing number of applications built around it, we are certainly hoping for the best.

we are going to look at what is solidity. So let's just dive right down to S just so you know, this is decent latency, Lobo. You know what? This lower refers to this refers to the fear in blockchain logo. If you want to know more about your fear rim, a separate video, covering that, how it differs to Bitcoin, the advantages disadvantages, or like what's done. Feel free to check them.

Hi, the solidity is a programming language. It's a programming. Language. Okay. So that's pretty cool. And it's used to write smart contracts, you know, create smart contracts, I should say, not necessarily, right. I write an application writing that sense of right. Develop smart contracts. If you want to know more about smart contracts, again, got a separate video covering that, but just a brief overview. Basically course at the middleman and it allows a transaction to occur automatically when a condition is met, when some sort of business logic has occurred again, gossip or video, feel free to check that out for more in depth analysis of what a small contract is. And the implementation on the small contracts are done on. Blockchain platforms, block chain, platforms, and services. So it's all related to creating blockchain systems and it is the primary language is actually the primary language for based platform. So, if you want to look more into programming for a fair IAM or blockchain general, sort of blockchain in general, then validity is the way to go. It's also the primary language on private blockchain platform that can compete with Ference. So it also is for. The competition as well, if you're in blockchain platforms. So even if you're not interested in creating fear, BM based applications, it is useful. And the primary language useful creating the competition. A big player, swift. We all know swift, if you don't swift allows the transfer of money globally. So from one country to another, it helped facilitate that through a messaging system, not messaging like WhatsApp or messaging that allows. Entities in one country, like the UK, where I am to send money less, say to China, for example, using this messaging identity system. Also the big code is part of this ecosystem. You might've heard of that. The banking international, actually, I remember what it's done for that's embarrassing, but yeah, how I remember what it stands for, but the big code is very crucial. I think it's bank international. And what swift has done is actually deployed a POC, a POC, which is a proof of concept using the solidity, running on, running on the hyper ledger borough. So this is a novice or a blockchain based system, like system. So what sort of language. Is solidity. Well, it is statically statically typed, and these smart contracts that if theory mommy solidity, Liu to create, they run on something called an EVM. They run on E V M, which is. If feel real virtual machines, again, going to have a separate video covering fear in virtual machine, but they basically allow you to use the fear in platform near fear in blockchain implementation without having to create, you know, a Nova blockchain, essentially everything more time. You want to create a whole new application or when a different developer wants to create this. So it's just a very easy way to start creating decentralized DC. Distribute these systems without having to, you know, rewrite a lot of stuff has where you use the language it's tried and test it. And you just reuse what people have already created. And solidity also provides the ability to create applications that implement self-reinforcing business logic embodied within these smart contracts. So scroll back up. So when I was saying these smart contracts over here that they are basically business logic, they automatically run based on a specific. Condition and they are self-reinforcing. So then there isn't like a user they're managing it and having a look at how this condition has been met. Now, let's say release funds. For example, if that is the scenario it's automatically done, if the scenario is met and it's the scenario, even, I mean the condition, the condition isn't met, then it doesn't release them. And finally, what sort of language is in terms of what does this sell? Like? Well, it's designed around. That was meant to be in a, like some sort of dodgy Kate, the ECMA script. So it, if the iffy AMA script syntax, so it's very similar to JavaScript. So a lot of web developers will be right at home here. He would influence. By many big languages. I'm sure you've heard of all of these Java script, obviously Java script influence by C plus plus by Python and by power shell. That's just a history. What it is. And while you might want to use solidity. So I look forward to seeing you in my next video, but if you have any questions in the meantime, feel free to reach out and as usual stay cool and stay frosty.