This is my first blog on my blockchain journey. So far in the journey I have been introduced to the concept of blockchain as a decentralized peer-to-peer network that can be used for exchange of info. Ethereum is one such block chain exchange and it is based on the proof of work concept. Proof of work is mining (solving puzzles) in order to be able to add a block on the blockchain and you spend ether if there is a transaction fee for a block. All the nodes in the network work on a consensus algorithm to agree the block to be added. Proof of stake is based on the concept of being able to mine a block based on how many coins you have. Bitcoin was the first use of blockchain. Since then it has evolved beyond the use of an exchange for cryptocurrency. Ethereum is used by developers around the world to write smart contracts for applications such as DApps written in a language called Solidity which is similar to Java script.
