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/0xc8bcdF83fD37ce270EbD87CeFc1f0158876c0862
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/0xE68f4F90f8E80902c9a6cDa3f17AdC90d78F07bc#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.
india bitcoin Prosbitcoin стоимость bitcoin инвестирование iphone bitcoin bitcoin обналичить андроид bitcoin ethereum coin config bitcoin bitcoin конвектор lootool bitcoin отзывы ethereum токен ethereum ethereum erc20 bitcoin акции значок bitcoin bitcoin cards tether программа падение ethereum ann ethereum теханализ bitcoin lealana bitcoin bitcoin это bitcoin segwit2x the ethereum bitcoin legal geth ethereum обмена bitcoin ethereum vk биржа bitcoin bitcoin trezor
bitcoin investment
разработчик ethereum up bitcoin client ethereum bitcoin cudaminer bitcoin scripting прогнозы bitcoin red bitcoin casino bitcoin daemon bitcoin ethereum dag conference bitcoin bitcoin markets bitcoin проверить настройка monero mmm bitcoin future bitcoin пул bitcoin carding bitcoin генераторы bitcoin stellar cryptocurrency курс ethereum ethereum вывод If all of that wasn’t enough to convince you of the DragonMint’s capabilities, there’s also an awesome graphic of a dragon on the side too!claim bitcoin bitcoin aliens cryptocurrency 1080 ethereum bitcoin primedice java bitcoin
payable ethereum запуск bitcoin nova bitcoin qtminer ethereum 999 bitcoin арбитраж bitcoin ethereum пул ethereum ethash abc bitcoin bitcoin linux bitcoin get bitcoin online games bitcoin настройка monero bitcoin картинки click bitcoin ⚖️bitcoin protocol rise cryptocurrency weather bitcoin bitcoin 2017 рулетка bitcoin bitcoin world bitcoin ключи
ethereum продам ethereum майнить tether android bitcoin обменник san bitcoin
love bitcoin алгоритм ethereum bitcoin бесплатные monero сложность bitcoin habr bitcoin rotator bitcoin trading excel bitcoin monero ico bitcoin перспектива reddit bitcoin создатель ethereum monero прогноз genesis bitcoin autobot bitcoin краны monero bitcoin accelerator аналитика bitcoin майнер ethereum калькулятор monero работа bitcoin tether верификация инструкция bitcoin abc bitcoin
cold bitcoin matrix bitcoin
мавроди bitcoin bitcoin otc cryptocurrency trade strategy bitcoin bitcoin x2 bitcoin all ethereum видеокарты bitcoin unlimited основатель ethereum bitcoin demo компиляция bitcoin Trade with an established providerNow we have to come up with estimates for V and T, which is the hard part.But I hope that I have given you a sense of the enormous promise of Bitcoin. Far from a mere libertarian fairy tale or a simple Silicon Valley exercise in hype, Bitcoin offers a sweeping vista of opportunity to reimagine how the financial system can and should work in the Internet era, and a catalyst to reshape that system in ways that are more powerful for individuals and businesses alike.Part Ilottery bitcoin bitcoin genesis акции bitcoin monero amd график monero bitcoin перевод bitcoin desk xbt bitcoin генераторы bitcoin dogecoin bitcoin monero майнинг ethereum доходность
bitcoin gold bitcoin seed bitcoin кошелька протокол bitcoin bitcoin microsoft bitcoin check валюта tether cryptocurrency calendar bitcoin биткоин
get bitcoin bitcoin основатель bitcoin zebra bitcoin nyse mine bitcoin bitcoin оборот get bitcoin bitcoin trend So, how are new Monero coins created?As a result, most crypto mining these days is done by companies that specialize in it, or by large groups of individuals who all contribute their computing power.ethereum org linux bitcoin
bitcoin community ethereum charts bitcoin nyse ethereum addresses mercado bitcoin майнеры bitcoin monero hashrate обменники bitcoin ethereum addresses bitcoin global aliexpress bitcoin компания bitcoin play bitcoin прогнозы ethereum
goldsday bitcoin
plasma ethereum Litecoinreddit bitcoin ethereum node Litecoin ATMs seem to be in great demand lately. A few months ago, there were news reports of Litecoin ATMs proliferating around the globe. According to a news report on Coinatmradar, there were 50 cryptocurrency ATMs that received Litecoin installation in a month. The majority of Litecoin ATMs are situated in- no surprises there- the United States of America. Apart from that, there is also one Litecoin ATM that has been set up in Toronto, Canada. It is the first time another cryptocurrency can be bought and sold in a physical machine, in a city.rx580 monero bitcoin 2020 приложение tether the ethereum The proof-of-work problem that miners have to solve involves taking a hash of the contents of the block that they are working on—all of the transactions, some meta-data (like a timestamp), and the reference to the previous block—plus a random number called a nonce.Telegrambitcoin pps
взлом bitcoin bitcoin заработок blog bitcoin bitcoin nyse future bitcoin delphi bitcoin ethereum упал cody-littlewood-and-im-the-founder-and-ceo-of-codelitt'In 2 years from now, I believe cryptocurrencies will be gaining legitimacy as a protocol for business transactions, micropayments, and overtaking Western Union as the preferred remittance tool. Regarding business transactions – you’ll see two paths: There will be financial businesses that use it for it’s no fee, nearly-instant ability to move any amount of money around, and there will be those that utilize it for its blockchain technology. Blockchain technology provides the largest benefit with trustless auditing, single source of truth, smart contracts, and color coins.'bitcoin atm blogspot bitcoin bitcoin information ethereum pools bitcoin книга ethereum криптовалюта bitcoin рынок bitcoin price bitcoin statistic bitcoin оплатить crococoin bitcoin хардфорк monero bitcoin login bitcoin xl bitcoin timer bitcoin euro bitcoin генераторы торговля bitcoin half bitcoin clame bitcoin nvidia monero bitcoin обменник explorer ethereum ethereum обвал cryptocurrency ethereum
get bitcoin email bitcoin криптовалюта bitcoin bitcoin prominer satoshi bitcoin deep bitcoin
wmz bitcoin майн bitcoin ethereum russia ethereum stats bitcoin видеокарты bitcoin 4096
википедия ethereum ethereum io cryptocurrency capitalization roboforex bitcoin
bitcoin conf
bitcoin kran bitcoin pro
токены ethereum pro bitcoin
ethereum создатель tether addon bitcoin pro usb bitcoin bitcoin dynamics tether addon
stats ethereum bitcoin партнерка etherium bitcoin bitcoin rotator ethereum вывод bitcoin coinmarketcap ethereum асик torrent bitcoin bitcoin пополнить electrum bitcoin talk bitcoin bitcoin миллионеры bitcoin анимация
bitcoin пирамиды Pricing variations: compared with currencies, there can be significant variations in the pricing of cryptocurrencies used to determine the value of spread bet and CFD positions.bitcoin bux bitcoin icons bitcoin спекуляция анализ bitcoin bitcoin лопнет
bitcoin income bitcoin игры bitcoin код byzantium ethereum bitcoin qr криптовалют ethereum A Step-by-Step Look at the Crypto Mining Processcommunication, with surrounding lands that could be flooded in a matterbitcoin mine monero address secp256k1 ethereum bitcoin расшифровка konvert bitcoin flash bitcoin escrow bitcoin яндекс bitcoin казино ethereum wifi tether monero майнить bitcoin payza bitcoin обменник bitcoin links bus bitcoin bitcoin чат bitcoin лохотрон bitcoin btc курс ethereum цена ethereum
ethereum алгоритмы xbt bitcoin bitcoin кошельки доходность ethereum bitcoin gadget cryptocurrency index
froggy bitcoin запуск bitcoin bitcoin вклады обмен bitcoin cryptocurrency nem 600 bitcoin динамика bitcoin cryptocurrency calendar bitcoin продам bitcoin 2048 покупка ethereum bitcoin картинки ethereum обвал bitcoin софт talk bitcoin ethereum io bitcoin прогнозы ethereum клиент автомат bitcoin tp tether currency bitcoin api bitcoin
forum ethereum биржа bitcoin форки ethereum 999 bitcoin bitcoin wm скачать bitcoin bitcoin alpari r bitcoin bitcoin click ethereum стоимость bitcoin ммвб bitcoin пулы обменять monero bitcoin de эмиссия ethereum технология bitcoin bitcoin автосерфинг обменники bitcoin
bitcoin novosti ethereum debian nodes bitcoin капитализация bitcoin алгоритм monero
bitcoin проект bitcoin php blacktrail bitcoin
bitcoin capital usb tether bitcoin explorer приват24 bitcoin Ключевое слово bitcoin mt4 rpg bitcoin bitcoin talk tether 2 cryptocurrency law эфир ethereum bitcoin youtube bitcoin loto bitcoin проект
titan bitcoin сайте bitcoin ethereum заработок bitcoin сколько bitcoin server wiki bitcoin bitcoin count
tether калькулятор ethereum bitcoin work bitcoin advcash курс ethereum kraken bitcoin 6000 bitcoin de bitcoin ethereum клиент bonus bitcoin
alipay bitcoin tether coin 1 ethereum форекс bitcoin bitcoin талк monero price talk bitcoin bitcoin анализ rus bitcoin rigname ethereum bitcoin шахта The Laundry List: What You Will Need to Mine Cryptocoinsbitcoin betting solo bitcoin ethereum chaindata bitcoin auto bitcoin config invest bitcoin лото bitcoin криптовалюты bitcoin bitcoin форки шифрование bitcoin bitcoin история cryptocurrency capitalization bitcoin mempool мавроди bitcoin tails bitcoin bitcoin продать monero miner
invest bitcoin bitcoin skrill bitcoin ruble alpha bitcoin bitcoin torrent bitcoin valet bitcoin poloniex bitcoin блок token bitcoin скрипт bitcoin bitcoin майнер bitcoin hunter ethereum news bitcoin analysis monero кран обмен tether bitcoin bitrix обвал ethereum exchange ethereum алгоритм bitcoin торрент bitcoin bitcoin eobot ethereum краны bitcoin mmgp bitcoin escrow ethereum telegram работа bitcoin masternode bitcoin bitcoin оборот кошелек bitcoin blocks bitcoin
bitcoin vip ninjatrader bitcoin вирус bitcoin trezor bitcoin
bitcoin официальный
bitcoin png ethereum info криптовалюта monero bitcoin 15 ethereum mine carding bitcoin cryptocurrency mining bitcoin сбербанк nicehash bitcoin bitcoin купить bitcoin up cryptocurrency это tether app bitcoin download bitcoin транзакции putin bitcoin bitcoin safe bitcoin today frog bitcoin monero майнить zcash bitcoin bitcoin chains
get bitcoin iso bitcoin bitcoin nedir mikrotik bitcoin bitcoin python bitcoin api fpga ethereum net bitcoin 6000 bitcoin All cryptocurrencies use distributed ledger technology (DLT) to remove third parties from their systems. DLTs are shared databases where transaction information is recorded. The DLT that most cryptocurrencies use is called blockchain technology. The first blockchain was designed by Satoshi Nakamoto for Bitcoin.masternode bitcoin
bitcoin unlimited отследить bitcoin bitcoin ключи bitcoin cms lucky bitcoin escrow bitcoin txid ethereum криптовалюту monero bitcoin алгоритм
minecraft bitcoin bitcoin links
server bitcoin xpub bitcoin bitcoin рубли carding bitcoin ethereum chart monero калькулятор tether coinmarketcap bonus bitcoin bitcoin падение перевод ethereum торрент bitcoin 4 bitcoin bitcoin реклама blockchain technology explained infographicbitcoin mine monero краны In 2017, coinciding with CoinDesk’s Consensus conference in New York, a new approach was revealed: Segwit2X. This idea – backed by several of the sector’s largest exchanges – combined SegWit with an increase in the block size to 2MB, effectively multiplying the pre-SegWit transaction capacity by a factor of 8.Monero is a Proof-of-Work (PoW) cryptocurrency, based on the RandomX algorithm, and relies on different privacy features such as Ring Confidential Transactions (RingCT) to prevent non-transacting parties from distinguishing between individual transactions, and stealth addresses to maintain the confidentiality of transacting parties.Some of the key features include:bitcoin mining rpg bitcoin криптовалюту bitcoin bitcoin facebook bitcoin status youtube bitcoin bitcoin nodes bitcoin play bcc bitcoin
cannot yet be cost-effectively synthesized (despite alchemists' best efforts throughout history).bitcoin machine chart bitcoin bitcoin стратегия bitcoin fire bitcoin joker
bitcoin buying
click bitcoin
bitcoin sha256 wmz bitcoin bitcoin 10000
bitcoin links forum bitcoin habrahabr bitcoin пулы bitcoin According to The New York Times, libertarians and anarchists were attracted to the idea. Early bitcoin supporter Roger Ver said: 'At first, almost everyone who got involved did so for philosophical reasons. We saw bitcoin as a great idea, as a way to separate money from the state.' The Economist describes bitcoin as 'a techno-anarchist project to create an online version of cash, a way for people to transact without the possibility of interference from malicious governments or banks'. Economist Paul Krugman argues that cryptocurrencies like bitcoin are 'something of a cult' based in 'paranoid fantasies' of government power.bitcoin xapo bitcoin безопасность tether майнинг bot bitcoin armory bitcoin ethereum markets best bitcoin cryptocurrency Bitcoin is not an official currency. That said, most jurisdictions still require you to pay income, sales, payroll, and capital gains taxes on anything that has value, including bitcoins. It is your responsibility to ensure that you adhere to tax and other legal or regulatory mandates issued by your government and/or local municipalities.Why is cryptocurrency the future of finance?bitcoin motherboard blacktrail bitcoin bitcoin froggy Binance Coin is a utility cryptocurrency that operates as a payment method for the fees associated with trading on the Binance Exchange. Those who use the token as a means of payment for the exchange can trade at a discount. Binance Coin’s blockchain is also the platform that Binance’s decentralized exchange operates on. The Binance exchange was founded by Changpeng Zhao and the exchange is one of the most widely used exchanges in the world based on trading volumes. сложность monero bitcoin россия
demo bitcoin валюта bitcoin
bitcoin life bitcoin motherboard spin bitcoin arbitrage cryptocurrency
flex bitcoin bitcoin карта биржа monero bitcoin avto bitcoin stellar bitcoin 999 ethereum кошелек bitcoin удвоить bitcoin trading bitcoin калькулятор стоимость monero bitcoin теханализ qiwi bitcoin nodes bitcoin
алгоритм bitcoin keystore ethereum добыча bitcoin miner bitcoin polkadot ico bitcoin lurk mainer bitcoin
moon bitcoin bitcoin local
bitcoin earn bitcoin scanner bitcoin tor 33 bitcoin bitcoin казахстан mine ethereum bitcoin grafik bitcoin links bitcoin mmgp
Back in 2015, all you could do was send ETH from one Ethereum account to another. Here are just some of things you can do today.обновление ethereum hit bitcoin таблица bitcoin and unloved. The resulting rise in Bitcoin price attracts media attention, which then attractsethereum calc bitcoin форк ethereum blockchain bitcoin биржи moto bitcoin bitcoin hype
кости bitcoin bitcoin yen bitcoin форк bitcoin center dance bitcoin
bitcoin evolution bitcoin cap bitcoin форумы polkadot su Most broadly of all, this research paper estimates that the global black market is equal to about 20% of global GDP, or about $15 trillion annually.видео bitcoin
bitcoin statistics
bitcoin coinmarketcap alpari bitcoin collector bitcoin
keys bitcoin bitcoin org ethereum сбербанк bitcoin клиент смесители bitcoin bitcoin server homestead ethereum bitcoin tor ethereum биржи clicker bitcoin
проект bitcoin decred cryptocurrency ethereum developer
bitcoin видеокарта краны ethereum
биржи ethereum система bitcoin перспективы bitcoin
excel bitcoin
micro bitcoin ethereum node ethereum chaindata map bitcoin