In order to understand The World Computer, first we must understand a basic computer.
In theory, a computer is made up of 4 parts:
- User Interface
Processor (CPU): runs an application’s instructions and manipulates data in memory
Memory (RAM): data stored in a manner quick enough for the processor to use. Limited in capacity
Storage (SSD): data stored for the long term. Must be loaded into memory. High capacity CPUs are made up of microscope electric components that can simulate anything via simple operations on 0s and 1s.
Humans write code in a human legible form (coding languages like Python). Interpreters (or compilers) translate this code into machine code. Not all CPUs speak the same language, and not all CPUs support the same features.
Virtual Machines (VMs) offer a solution for over worked, under staffed development teams. They abstract the execution of applications from the hardware they are running on. Every supported CPU set has a custom version of the VM that executes on their hardware.
The VM provides a sandboxes computer environment that is consistent across all platforms. If a developer creates software that works in the VM, it will work on VM supported CPU.
Ethereum is the network that operates the Ethereum Virtual Machine (EVM). Solidity is the language of the EVM. Solidity is Turing-complete.
The World Computer, the EVM, exists between the network of $ETH stakers. Node stakers execute together, the blockchain is the common database. Stakers share the benefits and the responsibility.
Ethereum exists on the internet between an untrusted network or mismatched computers. Corporations, DAOs, Whales, or Anyone can start the nodes that run the system. We call the method by which we coordinate consensus.
Currently ethereum uses a consensus system called Proof of Work (PoS). Soon, Ethereum will transition to Proof of Stake (PoS).
But that’s not the only upgrade coming to The World Computer!
As ethereum transitions into PoS it’s decoupling a lot of key components. Execution will be offloaded to fast and cheap environments in L2s and rollups.
Improving oracle technology along with other data availability solutions will offer cheap, quick data. Sharding will improve mainnet capacity (and supercharge execution layers)
Ethereum mainnet will be for core De-Fi protocols, bots and other chains. Protocols will build the chains with the best execution environment… they’ll just settle to $ETH.
Protocols will interface with dApps. dApps with business. Business with web apps. And so on.
As The World Computer matures, it’s presence will fade from our day to day lives. It will not be forgotten, however. Just like the SWIFT system it will be much discussed and largely untouched. But it’s presence will make a whole new world of economic activity possible.