This repository is dedicated to my journey learning Solidity, the primary programming language for Ethereum smart contracts, with the help of Patrick Collins' YouTube channel. Patrick's comprehensive and easy-to-understand tutorials have been instrumental in my learning process. You can check out his channel here.
Solidity is a statically-typed programming language designed for developing smart contracts that run on the Ethereum Virtual Machine (EVM). Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automatically execute transactions if certain conditions are met, eliminating the need for a trusted third party.
Ethereum is an open-source, blockchain-based platform that enables developers to build and deploy decentralized applications (dApps). It's the second-largest cryptocurrency platform by market capitalization, after Bitcoin. Ethereum is the pioneer for blockchain-based smart contracts.
Smart contracts are programs that run on a blockchain. They're called "contracts" because they handle the logic of the "contractual" clauses in the business logic of a dApp. When conditions are met, smart contracts can move Ethereum's native currency (Ether) or data around.
dApps are applications that run on a P2P network of computers rather than a single computer. They have existed since the advent of P2P networks, but the term gained popularity with the rise of Ethereum. Unlike traditional apps where the backend code runs on centralized servers, dApps connect users and providers directly.
DAOs are organizations represented by rules encoded as a computer program that is transparent, controlled by the organization members, and not influenced by a central government. DAOs are a form of investor-directed venture capital fund, with decision-making powers in token holders' hands.
The advent of Solidity, smart contracts, and dApps has revolutionized the way we approach online transactions and contracts. They offer a level of transparency, security, and decentralization that's not possible with traditional online platforms. They've also paved the way for innovations like DeFi (Decentralized Finance), NFTs (Non-Fungible Tokens), and DAOs.
For anyone interested in learning more about these topics, I highly recommend Patrick Collins' YouTube channel. His tutorials are comprehensive, easy to understand, and cover a wide range of topics related to Solidity, Ethereum, and blockchain technology.