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/0x139CB6C16e995516fDfce01654B5d47a527680E4
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/0x26dB85B6688936a421f518Db7E58821E784f86Ce#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.
лото bitcoin bitcoin уязвимости ropsten ethereum bitcoin расшифровка State and provincial securities regulators, coordinated through the North American Securities Administrators Association, are investigating 'bitcoin scams' and ICOs in 40 jurisdictions.брокеры bitcoin withdraw bitcoin оплата bitcoin reddit cryptocurrency бесплатный bitcoin форк bitcoin wallet tether поиск bitcoin bitcoin лохотрон создатель bitcoin
фарм bitcoin
майнер monero redex bitcoin monero bitcoin poker bitcoin 2018 ethereum монета
bitcoin ваучер deep bitcoin tether gps dance bitcoin bitcoin virus
bitcoin пул bitcoin school
bitcoin passphrase the ethereum average bitcoin bitcoin drip системе bitcoin proxy bitcoin tether верификация bitcoin cz Wondering what is SegWit and how does it work? Follow this tutorial about the segregated witness and fully understand what is SegWit.кошелька bitcoin x2 bitcoin ethereum алгоритм
download bitcoin bitcoin майнеры курс bitcoin лохотрон bitcoin отзывы ethereum bitcoin news cryptocurrency mining кошелек tether average bitcoin bitcoin 4 ethereum microsoft bitcoin co bitcoin обсуждение usb bitcoin bitcoin fpga тинькофф bitcoin
auction bitcoin multiply bitcoin An alternative model is for a decentralized corporation, where any account can have zero or more shares, and two thirds of the shares are required to make a decision. A complete skeleton would involve asset management functionality, the ability to make an offer to buy or sell shares, and the ability to accept offers (preferably with an order-matching mechanism inside the contract). Delegation would also exist Liquid Democracy-style, generalizing the concept of a 'board of directors'.fpga ethereum bitcoin форекс bitcoin vector monero js алгоритм bitcoin китай bitcoin
ethereum виталий bitcoin депозит ethereum эфириум ethereum кошелек ethereum github bitcoin bloomberg сайты bitcoin exchange ethereum ethereum вики neo bitcoin
bitcoin p2p bitcoin монет
map bitcoin
p2p bitcoin конвертер bitcoin bitcoin комментарии bitcoin pizza bitcoin analysis
фермы bitcoin lurk bitcoin bitcoin алматы
ethereum обменять bitcoin сатоши bitcoin сигналы local bitcoin инвестиции bitcoin bitcoin ukraine алгоритмы ethereum daemon monero bitcoin group
bitcoin cli bitcoin qiwi bitcoin прогноз ethereum casino
bitcoin mail lazy bitcoin bitcoin etf bitcoin сайте bitcoin bitcoin linux ethereum википедия
bitcoin ira bitcoin pdf bitcoin банк map bitcoin polkadot блог dwarfpool monero dollar bitcoin bitcoin 2000 bitcoin mainer пример bitcoin wechat bitcoin electrum bitcoin bitcoin goldmine bitcoin информация
робот bitcoin bitcoin майнить script bitcoin casper ethereum machine bitcoin
tp tether скрипт bitcoin tether tools 1080 ethereum bitcoin exe генераторы bitcoin курс ethereum bitcoin информация bitcoin видеокарты bitcoin machine github ethereum значок bitcoin bitcoin telegram bitcoin пополнить bitcoin all надежность bitcoin While the upgrade does enable a greater number of transactions in bitcoin’s blocks, SegWit’s initial intention was to fix a bug in the bitcoin code called transaction malleability. This flaw allowed anyone to change small details that modified the transaction id (and the subsequent hash) but not the content. While not a critical problem for bitcoin, it prevented the development of more complex features such as second-layer protocols and smart contracts.cpuminer monero bitcoin минфин monero fr bitcoin example проект bitcoin
bitcoin nodes best cryptocurrency bitcoin реклама bitcoin gold монета ethereum bitcoin mail invest bitcoin bitcoin haqida bitcoin рулетка bus bitcoin
daemon bitcoin обновление ethereum red bitcoin
pinktussy bitcoin торрент bitcoin ethereum blockchain bitcoin 2010
bitcoin добыча auction bitcoin bitcoin traffic bitcoin расшифровка ethereum telegram stock bitcoin генераторы bitcoin These examples are only part of the story for blockchains in digital assets. They can be the asset, but blockchains can also be used to run the market itself.bitcoin клиент bitcoin convert рулетка bitcoin stats ethereum rbc bitcoin bubble bitcoin ethereum telegram bitcoin capitalization шрифт bitcoin bitcoin 4000 blogspot bitcoin start bitcoin настройка monero monero алгоритм эпоха ethereum ann monero bitcoin preev криптовалюта tether bitcoin цены криптовалюта tether bitcoin будущее hashrate bitcoin rub bitcoin проверка bitcoin bitcoin сервера
ethereum аналитика ethereum картинки мавроди bitcoin free bitcoin bitcoin avalon bitcoin хардфорк pow bitcoin forbot bitcoin
unconfirmed bitcoin конвектор bitcoin bitcoin куплю ethereum debian андроид bitcoin порт bitcoin Nearly any computer can run crypto mining algorithms, but some are much better than others. A modern computer has a CPU (central processing unit) and a GPU (graphics processing unit). If the CPU is the brain of the computer, the GPU is the muscle used for mining.bitcoin форум
bitcoin video bitcoin go bitcoin crush bitcoin scripting ethereum go tether обменник теханализ bitcoin ethereum serpent difficulty ethereum bitcoin nodes The type, amount and verification can be different for each blockchain. It is a matter of the blockchain’s protocol – or rules for what is and is not a valid transaction, or a valid creation of a new block. The process of verification can be tailored for each blockchain. Any needed rules and incentives can be created when enough nodes arrive at a consensus on how transactions ought to be verified.bitcoin onecoin bitcoin loan buying bitcoin
фото bitcoin instant bitcoin bitcoin eobot bitcoin mine delphi bitcoin лотереи bitcoin bitcoin алгоритм bitcoin knots local ethereum bitcoin алгоритм bitcoin рост Ethereum dappscoin bitcoin криптовалюту monero bitcoin usb настройка monero bitcoin payza ethereum биржа bitcoin calculator bitcoin update start bitcoin bitcoin компания pixel bitcoin bitcoin rpg mikrotik bitcoin hardware bitcoin форк bitcoin смесители bitcoin
bitcoin win сеть ethereum antminer bitcoin
sgminer monero платформ ethereum ethereum ротаторы
bitcoin super bitcoin шахты
bitcoin tx дешевеет bitcoin bitcoin динамика ethereum info bitcoin лохотрон tether 4pda ethereum купить bitcoin обменять
кости bitcoin ютуб bitcoin dark bitcoin lootool bitcoin money bitcoin yota tether nxt cryptocurrency monero купить программа bitcoin bitcoin loan
ethereum stratum bitcoin linux ethereum видеокарты логотип bitcoin ethereum crane bitcoin vector moneybox bitcoin code bitcoin blitz bitcoin cryptocurrency chart сбербанк bitcoin ethereum валюта cryptocurrency price dog bitcoin bitcoin prominer bitcoin nedir bitcoin webmoney
контракты ethereum bitcoin code bitcoin film Types of Cryptocurrencyfire bitcoin reward bitcoin bitcoin landing With blockchain, anyone can verify the authenticity or status of a product being deliveredHow to Invest In Ethereum? Should You Invest In Ethereum?количество bitcoin ethereum calc bitcoin auto bitcoin 3 bitcoin icons blitz bitcoin bitcoin ann monero hardware ico bitcoin monero miner bitcoin make bitcoin farm bitcoin 4000 bitcoin валюты bitcoin блок bitcoin demo ethereum краны bitcoin system moto bitcoin рубли bitcoin byzantium ethereum nanopool ethereum
bitcoin telegram bitcoin pizza bitcoin habr ethereum charts анализ bitcoin polkadot cadaver bitcoin click secp256k1 bitcoin bitcoin desk bitcoin kz ethereum miners ethereum crane monero кран maps bitcoin bitcoin map 60 bitcoin
bitcoin nvidia game bitcoin bitcoin it фарм bitcoin лотереи bitcoin bitcoin escrow The Bottom Lineскрипт bitcoin cryptocurrency calendar
ethereum вывод bitcoin картинки
bitcoin usa bitcoin etherium bitcoin swiss poloniex bitcoin bitcoin forbes
king bitcoin bitcoin видео monero usd ethereum node bitcoin links ann monero monero pro bitcoin mining bitcoin 2020 sgminer monero bitcoin widget bitcoin scripting bitcoin фарминг dat bitcoin bitcoin phoenix Bitcoin was not the first attempt at digital money. Indeed, the idea was pioneered by David Chaum in 1983. In Chaum’s model, a central server prevented double-spending, but this was problematic:faith in a mathematical framework that is free of politics and human error.'16bitcoin кошелька bitcoin apk putin bitcoin
bitcoin wm takara bitcoin bitcoin london
bitcoin аналоги bag bitcoin bitcoin 2 The Pay-per-Share (PPS) approach offers an instant, guaranteed payout to a miner for his contribution to the probability that the pool finds a block. Miners are paid out from the pool's existing balance and can withdraw their payout immediately. This model allows for the least possible variance in payment for miners while also transferring much of the risk to the pool's operator.ethereum сбербанк What is a cryptocurrency: the 2008 financial crisis.bitcoin видеокарта bitcoin vpn email bitcoin transactions bitcoin
bitcoin world bitcoin статистика bitcoin ne monero benchmark bitcoin antminer будущее bitcoin bitcoin database покер bitcoin крах bitcoin
ютуб bitcoin
ethereum io bitcoin java hacking bitcoin ethereum асик The key to protecting yourself from data loss of any kind is to have redundant backups so that if one is lost or destroyed, you still have others you can use when you need them. All good wallet software asks their users to write down the seed recovery phrase of the wallet as a backup, so that if your primary wallet is lost or damaged, you can use the seed recovery phrase to restore access to your coins. If you have more than one backup location, they should be in places where various disasters won't affect both of your backups. For example, its much better to store two backups in a home safe and in a safe deposit box (as long as your seed is protected by a passphrase) than to store two backups in your bedroom and one in your garage.халява bitcoin bitcoin аналоги bitcoin рублях
polkadot stingray bitcoin wallet bitcoin antminer bank bitcoin ethereum пулы bitcoin work bitcoin purse
bitcoin математика proxy bitcoin bitcoin play
bitcoin p2p
monero dwarfpool курсы bitcoin
chaindata ethereum кликер bitcoin
bitcoin apple bitcoin girls ethereum course bitcoin доходность bitcoin create bitcoin кошельки кошельки bitcoin bitcoin xapo пулы bitcoin bitcoin код форекс bitcoin кредит bitcoin Blockchain technology is secured with cryptographic techniques, making it near impossible for hackers to make changes to it. The only way to make changes would be to hack more than half of the nodes in the blockchain, which again, is why it is more secure to have more nodes/computers running the blockchain.Block explorerxmrchain.netaddnode bitcoin bitcoin japan bitcoin обменник bitcoin mastercard bitcoin bear
bitcoin ферма терминалы bitcoin bitcoin qt tether 2 pull bitcoin mining bitcoin ethereum регистрация bitcoin сегодня golden bitcoin nanopool ethereum протокол bitcoin bitcoin rus
ico bitcoin bitcoin vizit bitcoin stealer терминал bitcoin tether bitcoin основатель цена ethereum bitcoin сложность
bitcoin direct claim bitcoin bitcoin valet bitcoin окупаемость bitcoin mac json bitcoin пулы ethereum pay bitcoin бесплатные bitcoin
bitcoin reward bitcoin journal ethereum russia super bitcoin faucet bitcoin minergate bitcoin ethereum ротаторы supernova ethereum ethereum это boom bitcoin bitcoin приложение easy bitcoin
ethereum настройка дешевеет bitcoin Hard forksисходники bitcoin тинькофф bitcoin monero xeon token bitcoin monero minergate bitcoin scanner bitcoin adress bitcoin сервера разработчик bitcoin обвал ethereum cryptonight monero moneypolo bitcoin bitcoin ticker приложения bitcoin bitcoin конвертер ethereum ethash ethereum скачать autobot bitcoin monero rur bitcoin registration ethereum 1080 кран bitcoin bitcoin отследить продать ethereum
bitcoin перевод swiss bitcoin bitcoin робот bitcoin ne транзакции ethereum usb bitcoin фермы bitcoin rate bitcoin fast bitcoin bitcoin valet разработчик bitcoin bitcoin address bitcoin лохотрон bitcoin vizit bitcoin co
адреса bitcoin bitcoin android биржа bitcoin bitcoin миксеры ethereum алгоритмы bitcoin register ru bitcoin bitcoin ферма bitcoin mmgp 'Once the virus has spread, there will be pressure to improve it, possibly by increasing its functionality closer to 90 percent, but users have already been conditioned to accept worse than the right thing. Therefore, the worse-is-better software first will gain acceptance, second will condition its users to expect less, and third will be improved to a point that is almost the right thing.'ethereum install асик ethereum swiss bitcoin bitcoin rig обмен tether падение bitcoin puzzle bitcoin usb tether half bitcoin
factory bitcoin bitcoin location bitcoin алгоритм bitcoin sha256 добыча bitcoin raiden ethereum платформа bitcoin заработка bitcoin новый bitcoin
algorithm bitcoin добыча ethereum подарю bitcoin bitcoin it нода ethereum ethereum статистика dog bitcoin автомат bitcoin free bitcoin bitcoin wsj ethereum курсы india bitcoin bitcoin gif сложность monero
reward bitcoin decred cryptocurrency poloniex monero ethereum poloniex bitcoin лого email bitcoin hourly bitcoin cryptocurrency top ethereum icon best bitcoin
консультации bitcoin форум ethereum bitcoin значок кран bitcoin bitcoin 4 кошелька bitcoin claim bitcoin win bitcoin zcash bitcoin bitcoin purse express bitcoin почему bitcoin bitcoin reward monero pro майнеры monero bitcoin fee
bitcoin майнеры криптовалюту bitcoin bitcoin продам блокчейн ethereum boom bitcoin сети bitcoin
cryptocurrency ethereum bitcoin fpga цена ethereum
cronox bitcoin blockchain ethereum monero miner bitcoin nachrichten
bitcoin будущее bitcoin tails What is Litecoin: a Litecoin on a black keyboard.bitcoin сша Ultimately, one of the greatest causes of conflict in the Bitcoin ecosystem is the fact that it can not be everything to everyone. To do so would be Bitcoin’s downfall, as there are fundamental trade-offs between various priorities, such as:sberbank bitcoin monero windows minergate ethereum homestead ethereum bitcoin x2 bitcoin options seed bitcoin расчет bitcoin bitcoin apk bitcoin акции bitcoin nachrichten что bitcoin bitcoin easy server bitcoin лотерея bitcoin курс bitcoin Crypto-backed.bitcoin список bitcoin status The issue of scalability has been a particular pain point. The number of transactions that can be processed depends on the size of blocks, and bitcoin software is currently only able to process approximately three transactions per second. While this wasn’t a concern when there was little demand for cryptocurrencies, many worry that slow transaction speeds will push investors towards competitive cryptocurrencies.Low-voter turnouttransactions bitcoin
master bitcoin bear bitcoin bitcoin анимация bitcoin earning bitcoin keywords ethereum кошельки explorer ethereum
bitcoin авто bitcoin fire bitcoin history
bitcoin get bitcoin займ кошель bitcoin
bank cryptocurrency программа ethereum lealana bitcoin bonus bitcoin bitcoin bcn bitcoin код
san bitcoin
tether yota ethereum кран ubuntu ethereum bitcoin otc bitcoin покупка Ethereum-based permissioned blockchain variants are used and being investigated for various projects.favicon bitcoin Externally owned accounts (EOAs): The accounts that normal users use for holding and sending ether.exchange ethereum отзыв bitcoin bitcoin оплата bitcoin футболка bitcoin protocol bitcoin torrent bitcoin игры кошелька bitcoin автомат bitcoin check bitcoin average bitcoin
gain bitcoin bitcoin картинки bitcoin hub оборот bitcoin курс ethereum
bitcoin protocol компиляция bitcoin котировки bitcoin bitcoin lottery bitcoin information get bitcoin equihash bitcoin
история bitcoin дешевеет bitcoin bitcoin кэш ccminer monero ethereum buy scrypt bitcoin анализ bitcoin bitcoin icon cryptocurrency faucet bitcoin лайткоин monero dwarfpool ethereum course bitcoin принимаем bitcoin daily падение ethereum
nova bitcoin акции bitcoin bitcoin services алгоритмы bitcoin bitcoin trust скачать bitcoin game bitcoin разработчик bitcoin bitcoin вывести bitcoin луна bitcoin github bitcoin banks bitcoin cost статистика ethereum monero rur bitcoin mining bitcoin фермы пул ethereum bitcoin история дешевеет bitcoin
lootool bitcoin bitcoin official bitcoin eobot инструкция bitcoin escrow bitcoin обмен tether
bitcoin reserve bitcoin магазины microsoft bitcoin магазин bitcoin ethereum картинки
bitcoin халява перевести bitcoin bitcoin block
bitcoin greenaddress blogspot bitcoin bitcoin халява ethereum асик bitcoin обзор click bitcoin bitcoin trade пулы bitcoin bitcoin майнер видеокарта bitcoin bitcoin database bitcoin pdf ethereum farm
global bitcoin
film bitcoin
bitcoin cash bitcoin сбор bitcoin ann инвестиции bitcoin криптовалюта monero
кошелька ethereum ethereum crane отзыв bitcoin
bitcoin up blogspot bitcoin group bitcoin bitcoin hardfork cryptocurrency price top tether bitcoin flapper майнить monero ethereum frontier bitcoin cc coinbase ethereum bitcoin payment скачать tether ethereum ios Identify the most suitable platformpay bitcoin bitcoin stock bitcoin перевод описание ethereum monero hardware bitcoin акции bitcoin андроид monero новости cranes bitcoin bitcoin ru solo bitcoin It’s clear that Cypherpunks had already been building on each other’s work for decades, experimenting and laying the frameworks we needed in the 1990s, but a pivotal point was the creation of cypherpunk money in the 2000s.I hope you have enjoyed my guide on how to become a Litecoin miner! You should now have a really good understanding of what you need to do to get started.What exactly is Cryptocurrency?Many beginners in cryptocurrency believe that Ethereum is only as a financial currency, like Bitcoin. This is wrong for many reasons; let’s look at the basics.Key to the system of checks and balances is the value of bitcoin the asset,25 which provides anbitcoin spinner moon bitcoin tether coinmarketcap bitcoin space раздача bitcoin видео bitcoin bitcoin trust сайте bitcoin bitcoin ira bitcoin инструкция monero rur приват24 bitcoin bitcoin компьютер bitcoin s bitcoin life bitcoin значок escrow bitcoin 16 bitcoin by bitcoin bitcoin игры ethereum ann bitcoin pattern love bitcoin миксеры bitcoin ethereum gold jax bitcoin торги bitcoin market bitcoin торговать bitcoin
bio bitcoin bitcoin wallpaper
bitcoin chart bitcoin pos курс tether 