Web 3.0 Procurement. Ethereum Ecosystem
Web 3.0 Procurement. Ethereum Ecosystem
Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.
Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.
DeFi
DeFi is an open and global financial system built for the internet age – an alternative to a system that’s opaque, tightly controlled, and held together by decades-old infrastructure and processes. It gives you control and visibility over your money. It gives you exposure to global markets and alternatives to your local currency or banking options. DeFi products open up financial services to anyone with an internet connection and they’re largely owned and maintained by their users. So far tens of billions of dollars worth of crypto has flowed through DeFi applications and it’s growing every day.
DAO
A DAO is a collectively-owned organization working towards a shared mission. DAOs allow us to work with like-minded folks around the globe without trusting a benevolent leader to manage the funds or operations. There is no CEO who can spend funds on a whim or CFO who can manipulate the books. Instead, blockchain-based rules baked into the code define how the organization works and how funds are spent. They have built-in treasuries that no one has the authority to access without the approval of the group. Decisions are governed by proposals and voting to ensure everyone in the organization has a voice, and everything happens transparently onchain.
Payments
While traditional financial institutions have built robust payment systems over decades, they often remain constrained by borders, working hours, and legacy infrastructure. Ethereum offers a new paradigm: a global, 24/7 financial platform that enables near-instant, programmable transactions for anyone with internet access.
Smart contract
A “smart contract” is simply a program that runs on the Ethereum blockchain. It’s a collection of code (its functions) and data (its state) that resides at a specific address on the Ethereum blockchain. Smart contracts are a type of Ethereum account. This means they have a balance and can be the target of transactions. However they’re not controlled by a user, instead they are deployed to the network and run as programmed. User accounts can then interact with a smart contract by submitting transactions that execute a function defined on the smart contract. Smart contracts can define rules, like a regular contract, and automatically enforce them via the code. Smart contracts cannot be deleted by default, and interactions with them are irreversible.
The two most active and maintained languages are:
Solidity
- Object-oriented, high-level language for implementing smart contracts.
- Curly-bracket language that has been most profoundly influenced by C++.
- Statically typed (the type of a variable is known at compile time).
- Supports: Inheritance, Libraries, Complex user-defined types.
Vyper
- Pythonic programming language
- Strong typing
- Small and understandable compiler code
- Efficient bytecode generation
- Deliberately has less features than Solidity with the aim of making contracts more secure and easier to audit.
morokoff 