Web3bridge Students (Cohort XII) Share What They’ve Learned: Cryptography, Ethereum, and Wallets.

my name is akula Prince we are glad to give you the weekly reports from Co 12 and in this week we're going to discuss about cryptographic as function ethereum ethereum's virtual machine and the concept of gas [Music] wets ethereum is a decentralized blockchain platform that enables the creation of smart contract and decentralized applications through its native token called ether some of the properties of ethereum includes that it is um not fundamentally localized that is it does not exist in like a single location and it's not present on like a physical computer ethereum can provide as many accounts as we might need so it provides like an infinite range of um account creation ethereum uses the proof of stake consensus mechanism also ethereum has a buil-in um virtual machine called the ethereum virtual machine that handles um transactions within the main smart contract programming language of ethereum is solidity and um it was influenced by languages like JavaScript C++ and um python ethereum also supports um touring complete programming languages and by touring complete programming languages uh I mean programming languages that's um for example if we are trying to run a for Loop that um does not have like a condition that terminates it so um it kind of introduces attacks popularly known as do the denial denial of service attacks and um ethereum like solves this problem by introducing the concept of gas such that every transaction that you want to carry out on the blockchain attracts a cost so now gas is like the measurement of the um computational effort that takes the miners to U Mine your transaction and then the fees that we now pay is what is known as gas fees cryptographic as function is a mathematical function that allow arbitary length of input then compress it into a fixed length of compressed numbers so what are the properties of cryptographic as functions they are one way as functions that DET determinism you can't be able to like be able to use two what to get your um cryptography as function like your output that is the most the um basic properties of cryptographic act functions aage effect to whereby you can't be able like any small input inside it automatically changes the the output Without You predicting it because I mean a small input can make the output change completely we actually use this um crypto as function to be able to encrypt our transaction details to the Spender so that the the only way for them to actually get that is for them to decrypt it using their own private keys and digital signature to able to decrypt it that why we basically need cryptographic as function wallet is A2 or like an electronic applications that is used to manage and secure funds is used to hold the your funds in cryptocurrencies and other digital assets on the blockchain network um so under wallet we have the private the public key and the private key the private key is like a secret code that is used to manage your phones secure your phones and why the public key is is the key used to generate wet addresses so basically private key is like a secret code that you have to keep safe in order to have access to your phon basically anybody that have access to your private key have access to your phones oh [Music]