Sebastien Rousseau

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Understanding the Technology behind Blockchain

by (4 minute read)

Tags: bitcoin blockchain cryptocurrencies ethereum ledger p2p technology

Exploring how technology is applied in the cryptocurrencies and blockchain space by creating a new coin.

Blockchain Banner

To give you some background, as I outlined in a previous blog, the real breakthrough with Blockchain is its ability to provide the basis for running truly distributed applications that eliminates the need for a central authority validation creating a true peer to peer economy.

Blockchain, is a chronological, public records or ledger of transactions with a super effective cryptographic mechanism assembled on a peer-to-peer network (P2P).

With this in mind, one of the exciting area to explore is how technology is applied in the cryptocurrencies and blockchain space.

In this series of articles, we will take a practical approach and explore how technology is applied in the cryptocurrencies and blockchain space.

Specifically we’ll aim to build a brand new cryptocurrency based on a blockchain implementation called Ethereum and run through understanding the technology.

Building Ethereum

Ethereum Logo

Ethereum is a decentralised platform for applications that run exactly as programmed without any chance of fraud, censorship or third-party interference.

Ethereum is intended to allow developers to create Distributed Applications (ĐApps) using Blockchain technology.

To get started, let’s get a few basic things out of the way.

  1. Download Geth (the Official Go implementation of the Ethereum protocol), they have packages for all supported platforms.

  2. Install Ethereum. For prerequisites and detailed build instructions please read the Installation Instructions on their wiki.

  3. Finally, let’s a development environment, testing framework and asset pipeline for Ethereum named. Please follow the Installation Instructions on their wiki as well.