Ether represented as 1 ether, or 1 ETH, or Ξ1, or ♦1
Smallest unit “wei”.
Faucets are applications on test network that give free ether
Ethereum was made to run smart contracts
The cryptocurrency aspect is an secondary feature on Ethereum
The EVM is a global singleton i.e. runs as a single instance everywhere
Account Types
The type of account created by a wallet is called Externally Owned Account (EOA)
EOA accounts have a private key associated with it
Contract accounts are accounts that have Smart Contract code stored in them
Contract accounts don’t have a private key they are owned and controlled by the smart contract code
Contracts have addresses, can send and receive ether like a EOA account
When a transaction destination is a contract addresses it executes the contract
The transactions data becomes the input for the contract
Transactions can call specific functions in a contract (can pass parameters as well)
Since contracts do not have a private key they cannot start a transaction
Contracts
Solidity is the most common language that is used to write Smart Contracts
Solidity code is converted into bytecode that can be executed by the EVM
GitHub - Faucet.sol
To register a contract on the blockchain a special transaction that has a destination address of all zeros
Contract creation transactions don’t need to have ether
Gas fee equivalent to the size of the contract will be charged