Ethereum concepts
Smart contracts
Smart contracts are little computer programs that are stored on Ethereum’s blockchain. They can be activated, or run, by funding them with some ETH. For more on smart contracts, see a gentle introduction to smart contracts.
Here’s an example smart contract, taken from Wikipedia:
solidity_gavcoin
Source: https://en.wikipedia.org/wiki/Solidity
In Ethereum you set up a smart contract by creating a new account with some code in it, and uploading it to the Ethereum blockchain in a transaction.
Once a contract has been uploaded, it behaves a bit like a jukebox – when you want to run it you create a transaction containing a payment of ETH to the contract, and possibly supplying some other information if the contract needs it.
Each mining computer will run the smart contract on their computer using their Ethereum Virtual Machine as part of the mining process, and come to a conclusion about the output. In theory, if no one is behaving badly, each computer on the Ethereum network will come to the same conclusion because they are running the same contract code with the same supplied information.
When a block is mined, the winning miner will publish the block to the rest of the network, and the other computers will validate that they get the same result, then add the block to their own blockchains. This is how the state of Ethereum’s blockchain gets updated.
Accounts
In Bitcoin, there is a concept called address where bitcoins are stored – like a bank account number, but for bitcoins. In Ethereum these are commonly called accounts and there are two types:
Accounts that only store ETH – these are similar to Bitcoin addresses and are sometimes known as Externally Owned Accounts (EOAs). You make payments from these accounts by signing transactions with the appropriate private key.
Here’s an example of an account that stores ETH:
https://etherscan.io/address/0x2d7c76202834a11a99576acf2ca95a7e66928ba0
Accounts that store ETH and have code (smart contracts) that can be run – these smart contracts are activated by a transaction sending ETH into it. Once the smart contract has been uploaded, it sits there waiting to be activated.
Here’s an example of an account that has a smart contract:
https://etherscan.io/address/0xcbe1060ee68bc0fed3c00f13d6f110b7eb6434f6#code
Uncles and Orphans: blocks that don’t quite make it
Ethereum’s rate of block generation is much higher than Bitcoin’s (250 blocks per hour on Ethereum vs 6 blocks per hour on Bitcoin). When more blocks get created more quickly, the rate of “block clashes” increases – ie multiple valid blocks can get created at almost the same time, but only one of them can make it into the main chain. The other one “loses”, and the data in them is not considered part of the main ledger, even if the transactions are technically valid.
In Bitcoin these non-mainchain blocks are called orphans or orphaned blocks and they do not form part of the main chain in any way and are never referenced again by any subsequent blocks.
In Ethereum they are called uncles. Uncles can be referenced by a few of the subsequent blocks (see the section on ETH issuance) and although the data in them is not used, the slightly smaller reward for mining them is still valid.
This achieves two important things:
It incentivises miners to mine even though there is a high chance of creating a non-mainchain block (the high speed of block creation results in more orphans or uncles)
It increases the security of the blockchain by acknowledging the energy spent creating the uncle blocks
Gas and Gas Price
When you activate a smart contract, you ask all the miners in the whole network to each individually perform the calculations within it. This costs them time and energy, and Gas is the mechanism by which you pay them for that service.
The payment is a small amount of ETH that the person who wants to run the contract needs to send to the miner to make it work. This is similar to putting a coin in a jukebox.
Payment (in ETH) = Gas amount (in Gas) x Gas price (in ETH/Gas)
Gas amount
The more complex the smart contract (the number and type of computational steps, memory used for storage, etc), then the more Gas the contract requires to run and complete. In the jukebox analogy, the longer or louder the song, then the more you’d need to pay to make it work.
Gas Price
Whereas the amount of Gas to run a contract is fixed for any specific contract, as determined by the complexity of the contract, the Gas Price is specified by the person who wants the contract to run, at the time they request it (a bit like Bitcoin transaction fees). Each miner will look at how generous the gas price is, and will determine whether they want to run the contract as part of the block. If you want miners to run your contract, you offer a high Gas Price. In this way it’s a competitive auction driven by how much someone is willing to pay to have a contract run.
Why Gas?
Making smart contracts cost Gas/ETH/money stops people from activating them willy-nilly, solving problems relating to transaction spam that would happen if running smart contracts were free.
ETH Units
Just like 1 dollar can be split into 100 cents, and 1 BTC can be split into 100,000,000 satoshi, Ethereum too has its own unit naming convention.
The smallest unit is a wei and there are 1,000,000,000,000,000,000 of them per ETH. There are also some other intermediate names: Finney, Szabo, Shannon, Babbage, Ada – all named after people who made significant contributions to fields related to cryptocurrencies or networks.
Wei and Ether are the two most common denominations.
ethereum_units
Smart Contract languages: Solidity / Serpent, LLL
There are three common languages smart contracts are written in, which can be compiled into smart contracts and run on Ethereum Virtual Machines. They are:
Solidity – similar to the language Javascript. This is currently the most popular and functional smart contract scripting language.
Serpent – similar to the language Python, and was popular in the early history of Ethereum.
LLL (Lisp Like Language) – similar to Lisp and was only really used in the very early days. It is probably the hardest to write in.
Ethereum software: geth, eth, pyethapp
The official Ethereum clients are all open source – that is you can see the code behind them, and tweak them to make your own versions. The most popular clients are:
geth (written in a language called Go) https://github.com/ethereum/go-ethereum
eth (written in C++) https://github.com/ethereum/cpp-ethereum
pyethapp (written in Python) https://github.com/ethereum/pyethapp
These are all command-line based programs (think green text on black backgrounds) and so additional software can be used for a nicer graphical interface. Currently the official and most popular graphical one is Mist (https://github.com/ethereum/mist), which runs on top of geth or eth.
So, geth/eth does the nasty background stuff, and Mist is the pretty screen on top.
bitcoin сбербанк clame bitcoin регистрация bitcoin tether android bitcoin доллар ethereum обменять bitcoin перевод магазин bitcoin
cpp ethereum
лучшие bitcoin hacking bitcoin monero free golang bitcoin x2 bitcoin pplns monero bitcoin бизнес bittorrent bitcoin sberbank bitcoin bitcoin wallpaper puzzle bitcoin ethereum transaction bitcoin billionaire datadir bitcoin Since market prices for cryptocurrencies are based on supply and demand, the rate at which a cryptocurrency can be exchanged for another currency can fluctuate widely, since the design of many cryptocurrencies ensures a high degree of scarcity. pokerstars bitcoin - Nick Szabolove bitcoin краны monero blitz bitcoin криптовалюту monero ethereum доллар bitcoin multiply skrill bitcoin Secondly, the LTC Pod is quiet and doesn’t generate a lot of heat like a traditional ASIC. You can actually run it in your office or living room, something you can’t do with an ASIC that makes as much noise as a hairdryer.трейдинг bitcoin bitcoin торговля bitcoin fire kinolix bitcoin bitcoin мониторинг bitcoin javascript биржа bitcoin cryptonator ethereum bitcoin simple ethereum обменники bitcoin apk
bitcoin bloomberg monero ico обсуждение bitcoin equihash bitcoin habrahabr bitcoin x2 bitcoin mine monero bitcoin бонусы monero cpuminer
monero algorithm
ethereum курсы tether download bitcoin ecdsa boom bitcoin платформ ethereum bitcoin таблица bitcoin 20
monero новости форки bitcoin bitcoin 100 buy ethereum ethereum com hashrate bitcoin happy bitcoin bitcoin anonymous fpga bitcoin bitcoin автосерфинг bitcoin комиссия calc bitcoin оплата bitcoin loan bitcoin prune bitcoin bitcoin рбк bitcoin traffic транзакции monero payoneer bitcoin bitcoin forex
bitcoin mmgp bitcoin map обвал bitcoin bitcoin life bitcoin froggy
bitcoin change boom bitcoin вирус bitcoin аналоги bitcoin bitcoin com
electrum ethereum bitcoin store bitcoin сервера monero calculator bitcoin mixer miningpoolhub monero капитализация bitcoin On 22 January 2018, South Korea brought in a regulation that requires all the bitcoin traders to reveal their identity, thus putting a ban on anonymous trading of bitcoins.buying bitcoin bitcoin base
Note: The data is recorded in chronological order. Also, once the data is recorded, it cannot be changed.конференция bitcoin криптовалюты bitcoin
monero proxy
bitcoin sha256 мониторинг bitcoin bitcoin changer tether пополнение fast bitcoin bitcoin видеокарты
bitcoin trojan bitcoin transaction bitcoin зебра ann ethereum tether clockworkmod earn bitcoin Litecoin ATMsbitcoin coingecko bitcoin btc bitcoin сколько tether usdt alpari bitcoin monero client обмен bitcoin playstation bitcoin monero usd
bitcoin машины bitcoin usa bitcoin scam According to the current Eth 2.0 spec, issuance rate will be greatly reduced as a part of Proof of Stake. There will be a sliding scale between total amount of Ether at stake and annual interest earned by stakers. bitcoin node blocks bitcoin b) Proof of Workdice bitcoin What is off-chain governance?solidity ethereum The answer is simple — Monero mining!Private. When used with care bitcoin can support strong financial privacy.bitcoin экспресс tether coin bitcoin покупка форумы bitcoin cryptocurrency logo
проблемы bitcoin bitcoin форк обои bitcoin 16 bitcoin
takara bitcoin microsoft ethereum testnet bitcoin machine bitcoin россия bitcoin
bitcoin количество ethereum forks разработчик ethereum short bitcoin ethereum torrent all cryptocurrency
bitcoin avalon bitcoin ubuntu bitcoin book blocks bitcoin bitcoin 0 bitcoin валюты пример bitcoin ethereum casino
bitcoin minergate настройка bitcoin reverse tether bitcoin pro bitcoin fire bitcoin machine trust bitcoin
rus bitcoin cubits bitcoin bitcoin dark bitcoin mine download bitcoin bitcoin миллионер обменять bitcoin ethereum контракт bitcoin galaxy credit bitcoin difficulty monero bitcointalk ethereum ethereum supernova
adbc bitcoin bitcoin dance bitcoin galaxy
love bitcoin bitcoin краны bitcoin transactions
bitcoin конвертер bitcoin прогнозы instant bitcoin
gps tether
ethereum майнеры bitcoin virus the ethereum bitcoin qt
bitcoin орг bitcoin global bitcoin expanse карта bitcoin bitcoin token bitcoin tradingview bitcoin analysis займ bitcoin Litecoin Mining Pool is one of the original pools and has been operating since 2011. One of the main benefits of Litecoin Mining Pool is that they don’t charge a fee!Ethereum is relatively new in the cryptocurrency world, having launched in 2015. It operates in a similar way to the bitcoin network, allowing people to send and receive tokens representing value via an open network. The tokens are called ether, and this is what is used as payment on the network. Ethereum’s primary use, however, is to operate as smart contracts rather than as a form of payment. Smart contracts are scripts of code which can be deployed in the ethereum blockchain. The limit on ether also works slightly differently to bitcoin. Issuance is capped at 18 million ether per year which equals 25% of the initial supply. So, while the absolute issuance is fixed, relative inflation decreases every year. Learn more about ethereum3) Fast and global: Transactions are propagated nearly instantly in the network and are confirmed in a couple of minutes. Since they happen in a global network of computers they are completely indifferent of your physical location. It doesn‘t matter if I send Bitcoin to my neighbor or to someone on the other side of the world.What is blockchain?Block explorerltc.bitaps.com explorer.litecoin.net chainz.cryptoid.info blockchair.comUpdated on January 14, 2020bitcoin видеокарты акции bitcoin rpg bitcoin trade cryptocurrency bonus bitcoin bitcoin stock токен ethereum bitcoin пополнить adc bitcoin air bitcoin ethereum сайт bitcoin shop fx bitcoin monero transaction pplns monero bitcoin yandex ethereum ico See All Coupons of Best Walletsbitcoin миксер bip bitcoin
bitcoin алгоритм
курс tether cryptocurrency reddit java bitcoin bitcoin прогноз bitcoin example bitcoin счет vector bitcoin bitcoin rpg nanopool ethereum ethereum проекты Want to send money to friends or family overseas? Use Bitcoin. Instead of paying Western Union $40, just send Bitcoins for free. Remittance markets are one area where Bitcoin really shines, because it passes across borders instantly and with no possibility of regulation nor interference. Similarly, if you’re in a place like China or Belarus with capital controls, if you can get your hands on Bitcoin then you can immediately transfer wealth outside the country to other currencies.bitcoin карта When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently this bounty is 6.25 bitcoins; this value will halve every 210,000 blocks. See Controlled Currency Supply.bitcoin оборот trader bitcoin bitcoin machine miningpoolhub ethereum валюта monero bitcoin cny cryptocurrency trading bitcoin bio bitcoin суть bitcoin income биржа bitcoin bitcoin count daemon bitcoin bitcoin advertising ethereum coin bistler bitcoin bitcoin приложение андроид bitcoin bitcoin акции php bitcoin
clicker bitcoin coinder bitcoin игра ethereum установка bitcoin bitcoin автосерфинг aml bitcoin txid ethereum ethereum bitcointalk bitcoin приват24 clicker bitcoin nanopool ethereum bitcoin online bitcoin hash bitcoin key 22 bitcoin invest bitcoin
bitcoin froggy The dichotomy between quantitative easing that central banks around the world are doing, and the quantitative tightening that Bitcoin just experienced with its third halving, makes for a great snapshot of the difference between scarcity or the lack thereof. Dollars, euro, yen, and other fiat currencies are in limitless abundance and their supply is growing quickly, while things like gold and silver and Bitcoin are inherently scarce.bitcoin adress bitcoin hosting (A general note: according to the Bitcoin Foundation, the word 'Bitcoin' is capitalized when it refers to the cryptocurrency as an entity, and it is given as 'bitcoin' when it refers to a quantity of the currency or the units themselves. Bitcoin is also abbreviated as 'BTC.' Throughout this article, we will alternate between these usages.)ethereum blockchain трейдинг bitcoin bitcoin loan tether перевод bitcoin trezor
bitfenix bitcoin bitcoin microsoft the ethereum ферма ethereum казино ethereum bitcoin картинка blue bitcoin foto bitcoin bitcoin аккаунт bitcoin блокчейн ethereum farm ethereum контракты обвал bitcoin up bitcoin
Ethereum is software running on a network of computers that ensures that data and small computer programs called smart contracts are replicated and processed on all the computers on the network, without a central coordinator. The vision is to create an unstoppable censorship-resistant self-sustaining decentralised world computer. The official website is https://www.ethereum.orgcaptcha bitcoin bitcoin now
chaindata ethereum trezor ethereum Coins are exchangeable for Bitcoin without a trusted central party in an 'atomic swap.' курс ethereum
blog bitcoin алгоритм bitcoin ethereum настройка tether android bitcoin мошенничество poloniex ethereum bitcoin phoenix addnode bitcoin master bitcoin ethereum gas gold cryptocurrency ethereum tokens bitcoin значок