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Now that we've gotten through some administrative work, it's time to start learning about a theory
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and using it to build actual applications in the section, we're going to start off with a little bit
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of a history lesson.
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Normally, for any technology that you learn, the history of how it was created is not always super
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important.
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For example, when you learn about HTML, you don't always learn about who first created HTML.
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However, in the world of Ethereum, development is changing so rapidly at this point in time that I
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think getting an idea of why, if the dream was created, can serve to help you understand about what
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the project is and where it's headed.
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So little history lesson here.
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We're going to first start off back in October 31st, 2008.
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This is the first notable event and it's not actually tied to a theory at all.
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Instead, this is the date of the original Bitcoin white paper.
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We refer to it as a white paper.
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It essentially was a academic paper.
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It was released by Satoshi Nakamoto.
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The paper described the creation of a system that would allow people to pay each other directly without
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the need for a central authority like a bank out of this paper.
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The Bitcoin network was eventually brought online in January of 2009, and this is the original Bitcoin
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network.
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One of the key characteristics of the Bitcoin network was the idea of a block chain.
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We'll talk about block chains in great detail throughout this course.
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But for now, just understand that the Bitcoin block chain was a tool to store a list of monetary transactions
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between different people.
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The Bitcoin network thrived and continues to thrive today.
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However, the only purpose of Bitcoin was to enable financial transactions.
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That was it.
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Send money from person to person B.
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Not long after its release, many people realized that they could use some of Bitcoins original innovations
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to not only handle the transfer of currency, but other types of exchanges as well.
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So one person who felt very strongly about this was named Retallack Budarin.
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The talent authored a white paper of his own.
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Again, a white paper is essentially an academic document, and he published it back in late 2013.
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Metalic was a proponent of the Bitcoin project, but he thought that the Bitcoin project was too simple
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in nature.
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He envisioned using block to block chain technology to create far more complex applications.
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In fact, he describes using a theorem to create sub crypto currencies, domain name registration systems
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and gambling applications.
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So the italics ideal world.
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He didn't want to just use Bitcoin to transfer money.
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He wanted to figure out some way to use these innovations to create much more advanced applications.
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And that's what we are here in this course to do.
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We're going to use this technology to build more advanced applications.
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Now, inside of his white paper Vitello, it goes on to describe the most important part of the theorem
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network, something called a smart contract.
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A smart contract is a piece of code that lives in the theory and block chain.
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This contract can be instructed to do certain things by having a person or another contract send a message
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to it.
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These contracts are at the absolute core of what a theorem is and really spending the vast, vast majority
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of this course to learn about the behavior of these contracts.
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The theorem system eventually went online on July 30th of 2015, and it also continues to flourish to
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this day.
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All right.
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So that's a little history lesson.
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Again, we don't usually talk too much about the history of the technology we use, but I wanted to
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share this short creation story with you just to highlight the fact that at the very point of its inception,
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the etherial network was designed around this idea of smart contracts that operate on a block chain,
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and their purpose is to allow for the creation of advanced applications.
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Now that we have a sense of one of the design goals of a theorem, let's continue in the next section
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and start getting some experience with the Ethereum network.
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