What is Ethereum Blockchain?
Ethereum is a decentralized, open-source blockchain that allows the creation of decentralized applications with smart contract functionality. Ether is the native cryptocurrency of the Ethereum Blockchain Platform. Ethereum blockchain is a distributed ledger that maintains a continuously growing list of records, called blocks, which are linked and secured using cryptography.
- The Ethereum blockchain allows for the creation of decentralized applications, or dApps, and smart contracts that can be executed without the need for intermediaries.
- Smart contracts are self-executing contracts with the terms of the agreement directly written into code. These contracts are stored on the Ethereum blockchain and are executed automatically when certain conditions are met. Smart contracts can be used to store data in a decentralized manner on the Ethereum blockchain.
- Most importantly, data such as account balances are not stored directly in the blocks of the Ethereum blockchain. Only the root node hashes of the transaction trie, state trie, and receipts trie are stored directly in the blockchain. This is illustrated in the diagram below.
- It focuses on providing a platform for the seamless running of codes for any decentralized application.
- It allows miners to work to earn Ether.
- gas is another type of token that is used to pay the miners.
- Every smart contract for its execution requires a certain amount of gas to be sent to the miners to put it in the Blockchain.
How to Store Data on Ethereum Blockchain?
Blockchain is a decentralized, distributed ledger that maintains a continuously growing list of records, called blocks. These blocks are linked and secured using cryptography, making it extremely difficult to alter or tamper with the data stored on the blockchain. This makes blockchain technology an ideal solution for storing data that needs to be secure, transparent, and tamper-proof.
Storing data on the Ethereum blockchain provides several benefits, including immutability, decentralization, and accessibility. When data is stored on the Ethereum blockchain, it is stored in a secure, tamper-proof, and transparent manner, making it an attractive option for businesses and individuals looking to protect their sensitive information. The article focuses on discussing how to store data on Ethereum Blockchain.