Etherium

Keith A. Lewis

April 25, 2024

Abstract
Crypto is not cryptic

Etherium is a computer that anyone can use. Its memory and programs are available to anyone with sufficient storage and computing power. In order to add data or run a program you must aquire ether to pay for gas charges to prove to Etherium users that you authorized a change in data or a computation. If everyone trusted each other there would be no need for Etherium.

The first step is to ask Vitalik for a wallet. You will get a unique id, a public key, and a private key. If someone acquires your private key they can impersonate you since the public key is used to identify who is making a transaction.

The second step is to get out your credit card and buy ether from someone who got there before you. Every Initial Coin Offering is nothing more than a promise from a bankrupt company. It has no assets. Investors hope people will invest their money and the value will grow, and be able to liquidate their postion before the value goes back to zero.