The "Yellow Paper" is Ethereum's formal specification.
https://github.com/ethereum/yellowpaper
The problem is that it's difficult to read for people not familiar with formal specifications.
[Q]: is there a readable (less formal) version of it?
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Since few days there is "Beige Paper", which is a rewrite of the Yellowpaper in non-Yellowpaper syntax, which is readable by a broader audience.
- GitHub Project: https://github.com/chronaeon/beigepaper/
- Shortcut to the PDF: https://github.com/chronaeon/beigepaper/blob/master/beigepaper.pdf (Beta-Release)
