Let's have a basic understanding about Ethereum. What is a Ethereum or ether for short?. From the website "Ethereum is a decentralized platform that run smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
The project was bootstrapped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe.
Please visit ethereum.org for more details or read Blockchain 101 article.
Please note, this article is in progress and will continue to update 'till I complete my project.
What is the name of the project? It is for "Designing and issuing our own cryptocurrency" called "Yehey". Learning should be fun, so the project name Yehey is appropriate. I will follow the step-by-step procedure here: https://ethereum.org/token
First action is to download the Ethereum Wallet for Mac, install and start downloading blocks of 3,853,756 as of this date June 10, 2017. This will take a while ...
I will go out for dinner with my family and watch a movie while this blocks downloading is in progress. After 6-7 hours, block download is 1,290,000 of 3,849,495.
June 11, 2017. 8:25 am. Another 8 hours passed. Downloading blocks at 2,157,336 of 3,854,733. I guess this will take a little longer than I expected.
Block downloading ... in progress.
Follow my journey at https://que.com/my-journey-to-ethereum-create-your-own-crypto-currency/
If you have any suggestion to make this project a success, please don't hesitate to let me know.
Stay tune!
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