CS251 Lecture 7 - Ethereum Mechanics
As part of CS251
One problem with Bitcoin is the inability to express in code anything outside the specific transaction. So you can spend the Bitcoin in that output easily enough, but you cannot say set a limit across multiple outputs.
Eth fixes this.
A single state transition in Eth can execute a whole program.
Eth started off with Proof of Work. 15 seconds per block with reward of 2 ETH + Transaction fees (gas). About 150 Tx per block.
This is pretty similar to Solana, building on the shoulders of giants and all that...
It all reminds me of Solana....