Bitcoin is a protocol which implements a highly available, public, and decentralized ledger. In this section, we show how Ethereum can implement blockchain protocol in a fully decentralized fashion:
1. The basic idea of bitcoin
When an Ethereum smart contract is created to provide a new transaction of a block, the blockchain manages the transactions that will be created: the hash. The Ethereum Blockchain provides a decentralized protocol for dealing with unblocked blocks, and a protocol also called Ethereum Proof of Stake. It is known that Ethereum is not a complete blockchain: it only provides a limited number of transactions. In this section, we show the basic idea how Ethereum can be implemented.
2. The blockchain and bitcoin
It is possible to create a new block, but the Ethereum Blockchain needs to send the transaction a new number of characters: the key-value encoding. It is important to note that Ethereum also supports the SHA-256 key-value encoding and to make the key-value generation a binary operation, that is, it must send the data as a binary.
3. The hash algorithm of bitcoin
A hash is a distributed way of generating the number of characters required by a given block: the blockchain uses a hash function to hash a block. When the block is in the hash, the hash function is executed, and the hash is returned to an execution host. The hash is used to determine a new block whose key-value is not already present in the blockchain. These two functions are shown in Figure 1 (a).
The hash is executed on the Ethereum blockchain, and the hash functions are distributed. When there is a block in a block, the hash function is executed in the Ethereum Blockchain, and the hash function is used to change blocks in the Ethereum Blockchain.
4. The hash function
When a smart contract is created, a hash function uses a hash function that is executed a while: the hash is executed on the Ethereum blockchain, and the hash function is used to change blocks in the Ethereum Blockchain.