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/0xC15F6E0a49F22EE6959aF4634799D550EbB8f197
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/0xc8bcdF83fD37ce270EbD87CeFc1f0158876c0862#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.
ethereum decred cryptocurrency faucet
bitcoin bitrix
p2p bitcoin monero пул prune bitcoin Ripple (XRP) is a network that allows the transfer of any currency (including both fiat currencies and cryptocurrencies) around the world. It aims to ensure secure, fast and low cost transfers across the network, with no risk of fraud or chargeback. The network is considerably faster than bitcoin – it is able to settle transactions in just a few seconds. The minimum transaction cost is also much lower, which is one of the reasons that ripple has been increasingly adopted by banks for settlement. Ripple is also the name given to the native cryptocurrency (XRP) used on the ripple network. Learn more about rippleWhat factors influence the Bitcoin Price?In a decentralized system, the information is not stored by one single entity. In fact, everyone in the network owns the information.The beneficiary address is awarded 5 Ether for mining the block. (Under Ethereum proposal EIP-649, this reward of 5 ETH will soon be reduced to 3 ETH). Additionally, for each ommer, the current block’s beneficiary is awarded an additional 1/32 of the current block reward. Lastly, the beneficiary of the ommer block(s) also gets awarded a certain amount (there’s a special formula for how this is calculated).claim bitcoin bitcoin конвертер bitcoin convert 100 bitcoin
генераторы bitcoin cap bitcoin статистика ethereum ethereum 4pda bitcoin лохотрон casascius bitcoin tether обменник bitcoin ocean monero курс 999 bitcoin bitcoin school отзывы ethereum time bitcoin проблемы bitcoin
bitcoin scan autobot bitcoin ставки bitcoin
ethereum падение maps bitcoin blender bitcoin бонусы bitcoin conference bitcoin film bitcoin создатель ethereum chvrches tether bitcoin обучение status bitcoin importprivkey bitcoin bitcoin бонусы bitcoin x ethereum обмен bitcoin block wikileaks bitcoin bitcoin go On November 7, 2008 he wrote to a cryptography mailing list that with Bitcoin, '...we can win a major battle in the arms race and gain a new territory of freedom for several years. Governments are good at cutting off the heads of a centrally controlled network like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.'казино bitcoin
bcc bitcoin взломать bitcoin сбербанк ethereum bitcoin продать bitcoin update bitcoin github стоимость monero
обновление ethereum primedice bitcoin bitcoin ebay tether валюта bitcoin биткоин видеокарта bitcoin the ethereum bitcoin main android tether Ryan Cordellethereum gold asics bitcoin 'I don’t believe we shall ever have a good money again before we take the thing out of the hands of government. We can’t take it violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can’t stop.'bitcoin cgminer bitcoin machines plus500 bitcoin cryptocurrency mining bitcoin play bitcoin scam bitcoin com bitcoin обозреватель bitcoin greenaddress статистика ethereum monero майнер bitcoin hardware
ethereum заработок
bitcoin путин ru bitcoin bus bitcoin
If you are good with irregular payouts over long periods of time, a smaller pool offering higher payout may be right for you. In contrast, someone who needs steady income with a high probability, low-payout scheme may opt for a larger pool.bitcoin fasttech capitalization bitcoin
продам ethereum fasterclick bitcoin miner monero bus bitcoin bitcoin ферма bitcoin status bitcoin talk
bitcoin биржи cardano cryptocurrency bitcoin вебмани bitcoin шифрование bitcoin аналоги история ethereum обновление ethereum bitcoin 99 цены bitcoin
forbot bitcoin криптовалюта tether продать ethereum количество bitcoin компиляция bitcoin ethereum miner location bitcoin bitcoin grafik monero майнинг bitcoin live tether обзор bitcoin converter ethereum calc bitcoin payoneer продаю bitcoin bitcoin форк bitcoin pay rise cryptocurrency bitcoin hype bitcoin apk bitcoin safe bitcoin перспективы china cryptocurrency bitcoin linux bitcoin
сигналы bitcoin Each wallet has private keys that are required to receive and send coins to and from your Litecoin address. Because these keys are stored offline in a hardware wallet, the keys are more secure than wallets connected to the internet.bitcoin 100 bitcoin sha256
bitcoin inside
antminer bitcoin ethereum заработок
wallets cryptocurrency
bitcoin выиграть bitcoin earn roulette bitcoin bitcoin отзывы scrypt bitcoin machine bitcoin bitcoin gif bitcoin fees запрет bitcoin your bitcoin hub bitcoin Browse our collection of the most thorough Crypto Exchange related articles, guides %trump2% tutorials. Always be in the know %trump2% make informed decisions!How to Buy NEM Cryptocurrency: A Thorough Guide...and what are Bitcoins?bitcoin конец сбор bitcoin Litecoinbitcoin calculator перевести bitcoin
Legal status, tax and regulationautobot bitcoin bitcoin перевод · Each Bitcoin is divisible by one hundred million. You can thus possess 0.00000001 Bitcoins.bitcoin habr bitcoin адрес сайте bitcoin bitcoin cli продать bitcoin bitcoin lurkmore tether addon supernova ethereum bitcoin кости cran bitcoin wallet cryptocurrency эмиссия bitcoin difficulty monero bitcoin автосерфинг будущее ethereum
autobot bitcoin transactions bitcoin bitcoin магазины технология bitcoin ethereum статистика registration bitcoin bestchange bitcoin
bitcoin prices finex bitcoin joker bitcoin ethereum bitcointalk сборщик bitcoin
bitcoin софт
bitcoin спекуляция difficulty ethereum bitcoin проверить store bitcoin bitcoin algorithm location bitcoin future bitcoin
bitcoin conveyor bitcoin froggy goldmine bitcoin wechat bitcoin кошелек ethereum
bitcoin purse hacking bitcoin описание ethereum bitcoin ann фермы bitcoin ethereum icon bitcoin государство mindgate bitcoin ubuntu bitcoin bitcoin delphi ethereum web3 1070 ethereum эфир ethereum monero miner bitcoin future bitcoin алгоритм bitcoin теханализ ethereum russia
dwarfpool monero bitcoin mining cryptocurrency charts ethereum bonus bitcoin hd ethereum метрополис msigna bitcoin bloomberg bitcoin bitcoin alpari monero amd playstation bitcoin Gas and Gas Priceethereum linux bitcoin formula plasma ethereum network bitcoin bitcoin монета ethereum twitter bitcoin софт icon bitcoin monero dwarfpool polkadot stingray metatrader bitcoin monero сложность prune bitcoin monero стоимость уязвимости bitcoin tether bootstrap erc20 ethereum компиляция bitcoin
ethereum сегодня 4 bitcoin bitcoin hashrate новости monero биржи ethereum machine bitcoin orpool bitcoin bitcoin telegram trading bitcoin bitcoin xt bitcoin legal отследить bitcoin bitcoin matrix bitcoin пополнить live bitcoin bitcoin openssl карты bitcoin account bitcoin часы bitcoin box bitcoin bitcoin форекс bitcoin millionaire nova bitcoin bitcoin heist direct bitcoin
bitcoin сеть
mastering bitcoin bitcoin agario ethereum programming ethereum продам ютуб bitcoin casascius bitcoin raiden ethereum project ethereum buy tether information bitcoin rotator bitcoin
http bitcoin algorithm ethereum добыча ethereum tether io заработка bitcoin bitcoin удвоить логотип bitcoin
bitcoin service hub bitcoin ethereum io direct bitcoin bitcoin краны
bitcoin автоматический rate bitcoin надежность bitcoin обзор bitcoin bitcoin описание ethereum википедия wikileaks bitcoin master bitcoin bitcoin форк investment bitcoin bitcoin com ethereum zcash hyip bitcoin foto bitcoin
ethereum продать bitcoin анимация bitcoin primedice cardano cryptocurrency монет bitcoin monero ann прогноз ethereum testnet bitcoin bitcoin kurs 3 bitcoin pay bitcoin tether программа bitcoin quotes акции ethereum ethereum faucet india bitcoin bitcoin mt4 bitcoin обои bitcoin форки mine ethereum bitcoin legal продать ethereum alliance bitcoin bitcoin серфинг bitcoin calculator bitcoin alpari биржа bitcoin 500000 bitcoin криптовалюты bitcoin
bitcoin calc отзыв bitcoin etoro bitcoin обновление ethereum monero криптовалюта bitcoin center ru bitcoin ethereum contract ethereum валюта бесплатно ethereum кран ethereum monero прогноз
monero proxy ethereum сайт qiwi bitcoin bitcoin приложения xronos cryptocurrency masternode bitcoin bitcoin расшифровка
bitcoin talk
c bitcoin
кости bitcoin lamborghini bitcoin сервер bitcoin
ethereum homestead bitcoin биржа algorithm bitcoin bitcoin compare bitcoin пул conference bitcoin 22 bitcoin ethereum install bitcoin payza wiki ethereum bitcoin x2 bitcoin бумажник bitcoin kran доходность ethereum etoro bitcoin bitcoin adder foto bitcoin claim bitcoin rpg bitcoin bitcoin forbes
мавроди bitcoin bitcoin cryptocurrency
bitcoin symbol tether bootstrap bitcoin school explorer ethereum nanopool ethereum ethereum хешрейт cryptocurrency calendar currency bitcoin bitcoin лотерея bitcoin local рулетка bitcoin mempool bitcoin source bitcoin When you google search for something, you send a query to the server who then gets back at you with the relevant information. That is a simple client-server.bitcoin spin bitcoin оплатить ethereum complexity bitcoin dollar проекты bitcoin bitcoin markets bitcoin bonus bitcoin example decred cryptocurrency buying bitcoin
bitcoin автоматически addnode bitcoin ethereum course bitcoin торговля форум bitcoin сколько bitcoin bitcoin список bitcoin generator
buying bitcoin
bitcoin fx карты bitcoin
lazy bitcoin bitcoin matrix фото bitcoin
ethereum 2017
10000 bitcoin bitcoin таблица
ethereum сбербанк advcash bitcoin bitcoin wallpaper Bitcoin, often abbreviated by the ticker symbol BTC, was the first example of what we now call a cryptocurrency. Cryptocurrencies are a growing asset class that shares some characteristics with traditional currencies except they are purely digital, and creation and ownership verification is based on cryptography.bitcoin blockstream That wraps up our cryptocurrency tutorial. If you’d like to learn more about blockchain (the underlying technology of cryptocurrencies such as bitcoin), check out Simplilearn’s Blockchain Basics Course. To learn even more and get a blockchain certification to boost your résumé, take the Blockchain Certification Course.Crypto Definitionпроблемы bitcoin fx bitcoin
bitcoin gambling раздача bitcoin adc bitcoin bitcoin создатель bitcoin продажа
spots cryptocurrency nicehash bitcoin bitcoin telegram shot bitcoin tether верификация ethereum форум avto bitcoin home bitcoin bitcoin spend film bitcoin weekly bitcoin
bitcoin список ann monero bitcoin frog jaxx bitcoin баланс bitcoin bitcoin fpga ethereum rub electrum ethereum
king bitcoin box bitcoin ethereum упал bitcoin free
ethereum chaindata magic bitcoin bitcoin инструкция ethereum gold claymore monero
bitcoin парад delphi bitcoin
abc bitcoin кошельки bitcoin bitcoin q bitcoin tor ethereum btc bitcoin карты bitcoin суть счет bitcoin cryptocurrency market мастернода bitcoin bitcoin instaforex криптовалют ethereum аналоги bitcoin tether обменник кошель bitcoin bitcoin обучение майнить monero mt4 bitcoin bitcoin forums bitcoin развитие hardware bitcoin trinity bitcoin iota cryptocurrency bitcoin сбор bitcoin laundering sgminer monero зарегистрироваться bitcoin The success of software frequently has an inverse relationship with the amount of capital behind it.таблица bitcoin p2p bitcoin 2. Match your power supply units to the power draw. Two 110v PSUs of 1,000W and 650W will be sufficient for most single miner operations.bitcoin xl bitcoin land
reward bitcoin bitcoin торрент разработчик bitcoin криптовалюта tether mindgate bitcoin film bitcoin андроид bitcoin casper ethereum cryptonator ethereum
bitcoin lurkmore 100 bitcoin xbt bitcoin monero gui Breaking Down the Roles and Processes Within the Bitcoin Blockchainbitcoin 0 The 'open source' movement officially emerged in 1996, as a marketing program for free software adoption within businesses. It framed free software adoption in a way that businesses could understand.The value of '1 BTC' represents 100,000,000 of these. In other words, each bitcoin is divisible by up to 108.bitcoin вывести bitcoin биткоин ethereum blockchain bitcoin machine сложность monero monero кран bitcoin service bitcoin форк платформа ethereum airbit bitcoin bitcoin greenaddress ava bitcoin bitcoin eu ethereum прибыльность coinder bitcoin earn bitcoin
bitcoin зарегистрироваться agario bitcoin bitcoin mining tether перевод preev bitcoin bitcoin people mine monero ethereum course goldsday bitcoin bitcoin people bitcoin tm bitcoin okpay pos ethereum dag ethereum rx560 monero buy tether
bitcoin цены пожертвование bitcoin bitcoin rates ethereum btc hyip bitcoin pps bitcoin bitcoin сколько
But beyond those concerns, just having cryptocurrency exposes you to the risk of theft, as hackers try to penetrate the computer networks that maintain your assets. One high-profile exchange declared bankruptcy in 2014 after hackers stole hundreds of millions of dollars in bitcoins. Those aren’t typical risks for investing in stocks and funds on major U.S. exchanges.использование bitcoin bitcoin boom rpg bitcoin key bitcoin monero bitcointalk bitcoin tor bitcoin сеть bitcoin аккаунт bitcoin payoneer ethereum виталий bitcoin virus биржа ethereum p2pool ethereum запуск bitcoin bitcoin bcn 6000 bitcoin bitcoin скрипт bitcoin стоимость биржа bitcoin EVM is a runtime compiler to execute a smart contract. Once the code is deployed on the EVM, every participant on the network has a copy of the contract. When Elsa submits the work on Ethereum for evaluation, each node on the Ethereum network will evaluate and confirm whether the result given by Elsa has been done as per the coding requirements, and once the result is approved and verified, the contract worth $500 will be self-executed, and the payment will be paid to Elsa in ether. Zack’s account will be automatically debited, and Elsa will be credited with $500 in ether.bitcoin 100
bitcoin easy blog bitcoin bitcoin markets bitcoin торги отзывы ethereum There are three key variables in any bitcoin transaction: an amount, an input and an output. An input is the address from which the money is sent, and an output is the address that receives the funds. Since a wallet can contain several input addresses, you can send money from one or more inputs to one or more outputs. There is also a data storage portion on each transaction, a sort of note, that allows you to record data to the blockchain immutably.However, Bitcoin is decentralized. It is the most significant characteristic making it unique to conventional money. Not any single institution can able to control network of bitcoin. People can be at ease since it primarily means that a big bank can’t be able to control their money.goldmine bitcoin hashrate ethereum bitcoin lion buy tether лото bitcoin перевести bitcoin etherium bitcoin rx580 monero bitcoin вирус bitcoin создатель mikrotik bitcoin bitcoin комиссия gif bitcoin bitcoin location habrahabr bitcoin water bitcoin bitcoin автомат bitcoin ether
bitcoin investing What is your idea?ethereum логотип
продать ethereum china bitcoin monero кран bitcoin analytics bitcoin traffic click bitcoin the ethereum bitcoin king zcash bitcoin ethereum game bitcoin double bitcoin падает ethereum перспективы bitcointalk monero кошелек ethereum фото bitcoin monero cryptonight
краны bitcoin кошелек ethereum купить ethereum bitcoin sberbank bitcoin services
ethereum википедия bitcoin synchronization bitcoin compare bitcoin смесители bitcoin fork bitcoin cli monero fork bitcoin stock кран bitcoin котировки ethereum робот bitcoin новости bitcoin nanopool ethereum bitcoin broker ethereum go monero btc top cryptocurrency secp256k1 bitcoin service bitcoin bitcoin работа monero hardware bitcoin майнить monero amd bitcoin get 6000 bitcoin
ethereum биржа bitcoin cap bitcoin даром