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Edge | Ethereum Wallet – Edge

Edge | Ethereum Wallet – Edge

Ethereum

Origin:

The Ethereum white paper was published in late 2013 by Vitalik Buterin. The Ethereum network officially launched in the summer of 2015 with the help of fellow co-founders Gavin Wood and Joseph Lubin. The goal of the Ethereum founders was to build infrastructure that allowed developers to build uncensorable applications also known as decentralized applications or dapps.

Basic Facts:

Genesis Date: July 30, 2015

Hashing Algorithm: Ethash

Blocktime: 12 sec

The Ethereum Blockchain:

At the foundation of the Ethereum network is its proof-of-work based blockchain and its native token Ether. The Ethereum blockchain records the distribution of ownership of its native token, updates the distribution whenever transfers of its native token are made on the network, and helps the network synchronize its state amongst a heterogeneous network of nodes.

Although users can and do use Ether like a money to store value, transfer value, or measure value, its highest and greatest utility comes from its use as payment for utilizing the Ethereum Computer, otherwise known as the Ethereum Virtual Machine.

Ethereum Virtual Machine:

The Ethereum Virtual Machine is what makes Ethereum unique. The EVM can be thought of as global decentralized computer containing millions of executable smart contracts. The EVM’s state and subsequent state transitions are recorded on the Ethereum blockchain.

The EVM is a computation engine who’s job is to execute smart contracts its called to execute and update the resulting state transitions as defined by the Ethereum protocol. In order to execute smart contracts on the EVM one must pay in Ether(ETH). This is Ether’s intended function. Its use as a money is secondary to this primary purpose as a means of payment for the execution of smart contracts stored in the EVM.

Smart Contracts:

The term smart contract was coined by Nick Szabo in the 1990s. He defined a smart contract as “a set of promises, specified in digital form, including protocols within which the parties perform on the other promises”.

Smart contracts imply intelligence, but Ethereum “smart contracts” are simply digital programs that run on the EVM. They can only do what they are programmed to do and nothing more. But, by executing digital programs on a decentralized computer anchored to a proof-of-work blockchain, simple digital programs become censorship-resistant smart contracts which allows developers to produce unstoppable code and theoretically unstoppable applications.

To execute a smart contract, the contract needs resources from the EVM like computation, memory, and storage. In order to get access to these resources the program must pay the EVM in exchange for use of its resources. The program will pay the EVM with Ether based on the number of steps or the amount of resources it uses. The measurement of steps and resources needed to execute a smart contract call is measured in something called Gas.

Gas:

Gas is a unit of measurement. In Ethereum, Gas is a computational unit or a measure of the number of steps/resources needed to execute a smart contract on the EVM. The relationship between Ether and Gas is not too dissimilar to the relationship between a fiat currency and gasoline. Gasoline is often measured in gallons and paid for in a fiat currency like the USD or EUR. Computation in the EVM is measured in Gas (computational units) and paid for in Ether.
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Dapps:

The purpose and end goal of the Ethereum community is to build decentralized, secure, reliable, and neutral infrastructure for developers to build decentralized applications. The Ethereum platform is designed for developers to build web applications with a plethora of distributed open source tools and resources that can distribute and automate responsibilities and features like payments, ownership, identity, storage, memory, messaging, computation, name resolution, backend software (logic), and even front end software in a way that makes a company or central authority unneeded in the daily operation and continued development of an application.

Imagine a social media application or ride sharing application with no unique servers, no central point of failure, and no central organization managing its operation or development at any place in the software stack. Imagine if the logic, payments, computation, identity, storage, messaging, and the front end of a web application was handled by a distributed and open source set of tools and capabilities available in Ethereum. These are the dreams and aspirations of the Ethereum community.

Edge Ethereum Wallet:

User controlled, private, and secure

Shows full transaction history of ETH and all tokens

Login to many Dapps with Edge Login

Easily exchange between ETH, ERC-20 tokens, and many other crypto-assets right within the wallet

Configurable gas price and gas limit per transaction

Buy Ether with US bank account or credit card

Why Edge?

Edge is a secure, easy, and private way to use, store, trade, and exchange crypto-assets. Many solutions either leave you on your own to fend for yourself or require you to give up control and privacy. At Edge we make sure you’re always in control of your money and information while also providing the tools necessary to protect yourself from us, others, and your own mistakes.

Edge has rich functionality, a battle-tested security architecture, and the industry’s best customer support. You’re never alone, but always independent with Edge.

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