What is Blockchain?

The best way to describe blockchain is a distributed database, and it is shared across many computer in a network. Block refers to the fact that data and state are stored in sequential batches or “blocks”. Chain refers to the fact that each block cryptographically references its parent. A block’s data cannot be changed without changing all subsequent blocks, which would require the consensus of the entire network. All computer on the network are known as Node.

What is Ethereum?

In the Ethereum universe, there is a single, canonical computer (called the Ethereum Virtual Machine, or EVM) whose state everyone on the Ethereum network agrees on. Everyone who participates in the Ethereum network (every Ethereum node) keeps a copy of the state of this computer. Additionally, any participant can broadcast a request for this computer to perform arbitrary computation. Whenever such a request is broadcast, other participants on the network verify, validate, and carry out (“execute”) the computation. This causes a state change in the EVM, which is committed and propagated throughout the entire network.

Requests for computation are called transaction requests; the record of all transactions as well as the EVM’s present state is stored in the blockchain, which in turn is stored and agreed upon by all nodes.

Cryptographic mechanisms ensure that once transactions are verified as valid and added to the blockchain, they can’t be tampered with later; the same mechanisms also ensure that all transactions are signed and executed with appropriate “permissions” (no one should be able to send digital assets from Alice’s account, except for Alice herself). You can read more here 

What we can do using Delphi?

Ethereum and its community embrace open source. You can find community projects – client implementations, APIs, development frameworks, testing tools – in a wide variety of languages.

Fortunately, Delphi already has an open source project that can be used to create decentralized applications (dapps) that take advantage of the benefits of cryptocurrency and blockchain technology. Check https://github.com/svanas/delphereum

Do you want sample code related to this? Please wait for my article in the second part.