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/*****p-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.
краны monero
bitcoin drip bitcoin 10 bitcoin hardfork net bitcoin обменники bitcoin bitcoin timer bitcoin вход bitcoin cards
bitcoin сервер captcha bitcoin 1080 ethereum bitcoin лого видеокарты ethereum cranes bitcoin bitcoin регистрации The Blockchain network utilizes the resources of the miners, who are there to validate the transactions for rewards.Using cryptocurrencies isn’t like using fiat currency. You can’t hold cryptocurrency in your hand and you can’t open a cryptocurrency account. Cryptocurrency only exists on the blockchain. Users access their cryptocurrency using codes called public and private keys.search bitcoin School then tells us there is something wrong with bartering. Something called a 'Coincidence of wants.' If Caveman 1 wants the spear from Caveman 2, then great. But what if he has no need for a spear? In a barter system, few trades are able to occur, thus severely limiting the power of a marketplace. Again, this makes intuitive sense.bitcoin pdf bitcoin rub fpga ethereum
monero minergate конференция bitcoin tinkoff bitcoin pinktussy bitcoin
видео bitcoin магазины bitcoin ethereum картинки ethereum pool
зебра bitcoin
se*****256k1 bitcoin рулетка bitcoin android tether bitcoin ira bitcoin forum value bitcoin cryptocurrency capitalisation
ethereum создатель bitcoin 123 bitcoin *****u ethereum telegram purchase bitcoin nicehash monero bitcoin coinmarketcap opencart bitcoin курс ethereum doubler bitcoin скрипт bitcoin bitcoin обозначение bitcoin прогноз tether верификация
торрент bitcoin alpari bitcoin monster bitcoin rotator bitcoin monero js майнить bitcoin сервера bitcoin film bitcoin бонусы bitcoin количество bitcoin
bitcoin qiwi bitcoin stock loans bitcoin ethereum coingecko bitcoin tools polkadot cadaver bitcoin reddit ethereum course ethereum price таблица bitcoin bitcoin код хабрахабр bitcoin bitcoin pizza bitcoin market
bitcoin stealer bitcoin scam bitcoin hunter forecast bitcoin exchange ethereum подарю bitcoin raiden ethereum bitcoin gadget ethereum dao trading cryptocurrency bitcoin markets carding bitcoin If the hospital used a blockchain, however, it wouldn't matter if a computer broke. On a blockchain, the newest version of the data is shared across the entire network and so it is always accessible.видео bitcoin coinwarz bitcoin bitcoin депозит 1000 bitcoin mikrotik bitcoin транзакции bitcoin cryptocurrency price claymore monero ethereum forum xpub bitcoin bitcoin пицца bitcoin poloniex bitcoin hosting cudaminer bitcoin sec bitcoin ethereum видеокарты equihash bitcoin monero криптовалюта multisig bitcoin vps bitcoin bitcoin парад bitcoin clicker client ethereum калькулятор ethereum кости bitcoin ethereum майнить total cryptocurrency ethereum blockchain ethereum bitcoin bitcoin instant ethereum обмен bitcoin получение monero gpu
сайты bitcoin bitcoin x рубли bitcoin
инструмент bitcoin bitcoin double
6000 bitcoin bitcoin qiwi
download bitcoin bitcoin phoenix hd7850 monero bestchange bitcoin cryptocurrency magazine майнер ethereum bitcoin ticker
bitcoin видео Bitcoin accounted for just 0.4% of the world's money.bitcoin sell ethereum node bitcoin видеокарта виталий ethereum zcash bitcoin bitcoin nodes golang bitcoin pos ethereum bitcoin delphi bitcoin займ bitcoin вложить bitcoin gambling miner monero bitcoin car биржа bitcoin rush bitcoin qr bitcoin трейдинг bitcoin legal bitcoin 1:20ethereum foundation Blockchain records transaction (history, timestamp, date, etc.) of a product in a decentralized distributed ledger ru bitcoin ethereum client
tether android monero hashrate расчет bitcoin monero logo ethereum news ethereum solidity bitcoin скачать bitcoin machines total cryptocurrency конвертер ethereum field bitcoin ethereum solidity bitcoin pdf bitcoin china заработать bitcoin bitcoin gif bitcoin пулы
bitcoin вывод dark bitcoin chaindata ethereum bitcoin мошенничество today bitcoin
bitcoin stealer bitcoin вконтакте bitcoin trading monero криптовалюта delphi bitcoin bitcoin oil bitcoin баланс ethereum forum
bitcoin сервера ethereum debian ethereum os bitcoin ключи контракты ethereum transaction bitcoin mail bitcoin часы bitcoin flypool monero wikipedia ethereum TWITTERProof of workgithub ethereum Currency is usable if it is a store of value, or, put differently, if it can reliably be counted on to maintain its relative value over time and without depreciating. In many societies throughout history, commodities or precious metals were used as methods of payment because they were seen as having a relatively stable value. Rather than require individuals to carry around cumbersome quantities of cocoa beans, gold or other early forms of currency, however, societies eventually turned to minted currency as an alternative. Still, the reason many examples of minted currency were usable was because they were reliable stores of value, having been made out of metals with long shelf lives and little risk of depreciation.2bitcoin currency mercado bitcoin price bitcoin
msigna bitcoin
биржи ethereum truffle ethereum bitcoin earnings tera bitcoin casper ethereum
cryptocurrency перевод testnet bitcoin
приложение bitcoin gui monero monero client bitcoin flex bitcoin fpga
mooning bitcoin bitcoin login bitcoin инвестирование rx470 monero bitcoin кран котировки ethereum pirates bitcoin fasterclick bitcoin hack bitcoin average bitcoin видеокарты ethereum
платформ ethereum trezor ethereum bitcoin dynamics email bitcoin cryptocurrency это ethereum график coinder bitcoin monster bitcoin bitcoin история bitcoin world
ethereum charts инструмент bitcoin
bitcoin froggy ethereum block bitcoin payoneer bitcoin nachrichten 2x bitcoin fox bitcoin jax bitcoin вложения bitcoin xpub bitcoin
android tether microsoft bitcoin client bitcoin bitcoin symbol 999 bitcoin токен bitcoin bitcoin index проверка bitcoin bitcoin bux conference bitcoin bitcoin xpub blog bitcoin ethereum вывод coinder bitcoin coin bitcoin bitcoin antminer bitcoin обменники bitcoin pump токен bitcoin bitcoin advcash bitcoin instagram статистика ethereum ethereum exchange bistler bitcoin bitcoin шахты alien bitcoin bitcoin girls bcc bitcoin tether приложения bitcoin amazon fun bitcoin bitcoin loan bitcoin сбор зебра bitcoin android tether пример bitcoin asus bitcoin bitcoin генераторы bitcoin государство monero ico bitcoin зебра locals bitcoin bitcoin addnode кошель bitcoin moto bitcoin bitcoin mine bitcoin coindesk ethereum chart 2006 AEGold Proof Obv.png Libertarianism portalbitcoin knots cryptocurrency price monero transaction сложность ethereum currency bitcoin
bitcoin проблемы
оборот bitcoin ethereum биржа ethereum токен trezor ethereum
bitcoin qr client bitcoin bitcoin qiwi freeman bitcoin прогноз bitcoin bitcoin registration bitcoin доходность monero продать bitcoin nyse bitcoin заработок ethereum btc основатель bitcoin bitcoin stock direct bitcoin bitcoin исходники enterprise ethereum bitcoin work
bitcoin books bitcoin стратегия bitcoin машины ubuntu ethereum bitcoin journal bitcoin links *****a bitcoin ethereum scan bitcoin xyz
new bitcoin bitcoin update by bitcoin cryptocurrency calendar Some journalists, economists, and the central bank of Estonia have voiced concerns that bitcoin is a Ponzi scheme. In 2013, Eric Posner, a law professor at the University of Chicago, stated that 'a real Ponzi scheme takes fraud; bitcoin, by contrast, seems more like a collective delusion.' In 2014 reports by both the World Bank:7 and the Swiss Federal Council:21 examined the concerns and came to the conclusion that bitcoin is not a Ponzi scheme. In 2017 billionaire Howard Marks (investor) referred to bitcoin as a pyramid scheme.The shift to Ethereum 2.0 may reduce the issuance rate of Ether. There is currently no implemented hard cap on the total supply of Ether.One week after bitcoin was launched, Hal Finney famously tweeted to the world that he was 'running bitcoin.' In 2011, Ross Ulbricht was alleged to have launched the Silk Road website which ultimately leveraged bitcoin to facilitate online payments for drugs, establishing one of the earliest widespread uses of bitcoin in commerce and undoubtedly playing a material role in the expansion of early adoption and awareness. In 2014, Mt. Gox was hacked and that event may have had the single greatest influence on the advancement and proliferation of bitcoin hardware wallets, as individuals and companies looked to avoid the risks of exchanges and developed ways to more securely hold bitcoin without the use of third-parties. In 2017, after a bitcoin service provider drew the ire of Nicolas Dorier, he set out to build a product that would obsolete that provider and service, spawning one of the most exciting open source projects within bitcoin, BT*****ay Server. In 2018, Saifedean Ammous released The Bitcoin Standard, which has accelerated knowledge distribution and contributed to a wave of bitcoin adoption. There are obviously too many random acts to count or acknowledge but it is the randomness inherent to bitcoin and its permissionless nature, lacking in any conscious control, which has allowed it to evolve into the antifragile system it has become. If bitcoin were under the control of any single individual, company or even country, it would have never been viable as a currency because it would have always been dependent on trust and it would have lacked the randomness necessary to create a system capable of dispensing with the need of conscious control. Randomness is irreplicable and the foundation of bitcoin was built on it.bitcoin generator c bitcoin bitcoin euro okpay bitcoin bitcoin blog кошельки bitcoin отследить bitcoin bitcoin farm bitcoin vk 100 bitcoin bitcoin автомат
uk bitcoin tether io card bitcoin bitcoin заработок bitcoin china maps bitcoin bitcoin hunter bitcoin plus bitcoin окупаемость
tracker bitcoin купить bitcoin bitcoin poker ethereum blockchain
king bitcoin bitcoin установка bitcoin group bitcointalk ethereum продать ethereum ethereum raiden
bitcoin classic ethereum block monero gpu mine monero bitcoin коллектор bitcoin kurs bitcoin payza bitcoin price bitcoin fan bitcoin word alliance bitcoin bitcoin miner автомат bitcoin
bitcoin форекс monero pro bitcoin key майнеры monero monero address bitcoin euro usb bitcoin ethereum coins инструкция bitcoin
bitcoin заработок konverter bitcoin
bitcoin 3 bitcoin сбор kinolix bitcoin bitcoin страна bitcoin fake cryptocurrency wikipedia
bitcoin кошелек bitcoin alert monero новости bitcoin fox bitcoin депозит ico cryptocurrency обмен bitcoin invest bitcoin
консультации bitcoin bitcoin analytics пулы monero monero usd monero майнить bitcoin рейтинг вывод ethereum
pk tether
bitcoin api bitcoin инструкция bitcoin talk bitcoin обменять
bitcoin график bitcoin wmx bitcoin компьютер bitcoin word by bitcoin bitcoin simple flypool ethereum casinos bitcoin torrent bitcoin bitcoin экспресс отдам bitcoin bitcoin clouding регистрация bitcoin bitcoin rub
space bitcoin coinmarketcap bitcoin розыгрыш bitcoin bitcoin asic cryptocurrency market bitcoin widget dollar bitcoin cgminer ethereum настройка ethereum forbot bitcoin bitcoin видеокарты bitcoin транзакции bitcoin перевод pool monero autobot bitcoin bitcoin терминал ethereum charts python bitcoin ads bitcoin tether iphone пожертвование bitcoin играть bitcoin ethereum raiden field bitcoin bitcoin hardware bitcoin official copay bitcoin 1080 ethereum зарабатывать ethereum fx bitcoin ethereum *****u
microsoft bitcoin nanopool ethereum bitcoin clicks
instant bitcoin login bitcoin rotator bitcoin greenaddress bitcoin валюта tether bitcoin motherboard bitcoin venezuela wordpress bitcoin nova bitcoin bitcoin лого bitcoin tools bitcoin лого aliexpress bitcoin bitcoin бизнес steam bitcoin bitcoin electrum запуск bitcoin
bitcoin брокеры bitcoin best ethereum dark ethereum график cryptocurrency wallets bitcoin broker monero *****uminer calc bitcoin bitcoin zona bitcoin сеть bitcoin space all bitcoin ethereum майнить bitcoin теханализ bitcoin trading проект bitcoin bitcoin хайпы зарегистрировать bitcoin bitcoin kaufen The miners 'win' these ether by mining them. Their profitability depends on luck and the amount of computing power they devote to it.site bitcoin bitcoin review bitcoin markets ethereum упал эфир ethereum капитализация bitcoin
заработка bitcoin abi ethereum wei ethereum autobot bitcoin blender bitcoin bitcoin добыть bitcoin strategy bitcoin фарминг bitcoin биржа bitcoin wm bitcoin государство
bitcoin genesis
bitcoin комиссия satoshi bitcoin bitcoin магазины bitcoin news сбербанк bitcoin sec bitcoin раздача bitcoin ecdsa bitcoin monero minergate
bitcoin nedir bitcoin primedice bitcoin help wifi tether tp tether mikrotik bitcoin таблица bitcoin blogspot bitcoin 99 bitcoin lurkmore bitcoin The proof of stake model also rewards those folks who verify transactions differently. Instead of being paid in virtual coins, the stakeholder earns the transaction fees tied to that block of transactions. Unix was rewritten for personal computers by several groups of developers. Linus Torvalds created his own version, 'Linux,' and distributed it for free, just as AT%trump2%T had done with Unix. (As we will show, Linux has become enormously successful.) The approach taken by Torvalds’ and other Unix hackers uses playfulness as an energizing force to build useful (if difficult) free software projects. The Finnish computer scientist and philosopher Pekka Himanen wrote at the time: 'To do the Unix philosophy right, you have to be loyal to excellence. You have to believe that software is a craft worth all the intelligence and passion you can muster.'bitcoin 2020 калькулятор ethereum bitcoin обучение ethereum metropolis bitcoin plus alpari bitcoin bitcoin history bitcoin сервисы monero usd ethereum org
q bitcoin
конвертер bitcoin токен bitcoin cms bitcoin bitcoin poker bitcoin hacker tether приложение карты bitcoin bitcoin asics bitcoin scrypt
bitcoin poloniex шифрование bitcoin bitcoin maps
