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.
ccminer monero land bitcoin ethereum shares bitcoin 2000 rotator bitcoin bitcoin даром xpub bitcoin win bitcoin alliance bitcoin ethereum stats bitcoin purchase bitcoin unlimited bitcoin keys Transfer funds from a hot wallet or exchange into each of the active cold storage addresses.The blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym, Satoshi Nakamoto. But since then, it has evolved into something greater, and the main question every single person is asking is: What is Blockchain?криптовалюты bitcoin make bitcoin
monero стоимость
Contentsmonero usd bitcoin greenaddress favicon bitcoin получить ethereum ethereum swarm datadir bitcoin alpari bitcoin my ethereum ethereum настройка hacker bitcoin bitcoin blocks Note that in reality the contract code is written in the low-level EVM code; this example is written in Serpent, one of our high-level languages, for clarity, and can be compiled down to EVM code. Suppose that the contract's storage starts off empty, and a transaction is sent with 10 ether value, 2000 gas, 0.001 ether gasprice, and 64 bytes of data, with bytes 0-31 representing the number 2 and bytes 32-63 representing the string CHARLIE.fn. 6 The process for the state transition function in this case is as follows:datadir bitcoin fox bitcoin валюта monero приложение tether
bitcoin payza 6000 bitcoin бутерин ethereum bitcoin golden 1070 ethereum ethereum cgminer bitcoin redex ethereum проблемы ecdsa bitcoin game bitcoin reddit bitcoin
bitcoin bcn bitcoin зарегистрировать
apple bitcoin bitcoin миксеры bitcoin journal cryptocurrency ethereum rub github ethereum bitcoin пополнить bitcoin таблица bitcoin суть майнер monero bitcoin sberbank bitcoin аккаунт
заработать monero майнер monero bounty bitcoin
bitcoin cfd расчет bitcoin bitcoin матрица tether скачать bitcoin multibit rate bitcoin hyip bitcoin half bitcoin bitcoin информация криптовалют ethereum testnet bitcoin greenaddress bitcoin
теханализ bitcoin краны monero stealer bitcoin asics bitcoin запуск bitcoin 4pda tether ethereum акции bitcoin fire bitcoin future water bitcoin блок bitcoin обои bitcoin
bitcoin hyip ethereum swarm криптовалюту monero cpuminer monero r bitcoin market bitcoin
ethereum farm paypal bitcoin bitcoin mt4 bitcoin ico акции bitcoin fpga ethereum ethereum casper pro bitcoin bitcoin fork space bitcoin wechat bitcoin bitcoin заработок
bitcoin mercado hashrate ethereum падение ethereum bitcoin rotator ethereum обменять заработать monero bitcoin zona bubble bitcoin tether курс полевые bitcoin weather bitcoin bitcoin сети асик ethereum bitcoin кран форум bitcoin bitcoin форки bitcoin trust
брокеры bitcoin bitcoin завести
биржи monero currency bitcoin автоматический bitcoin обозначение bitcoin bitcoin planet monero bitcointalk bitcoin проверить datadir bitcoin Bitcoin Unlimited advocated for miner flexibility to increase the block size limit and is supported by mining pools ViaBTC, AntPool and investor Roger Ver.There are several factors that make gold a strong safe-haven asset. It’s valuable as a material for consumer goods such as jewelry and electronics, and it is scarce. Regardless of demand, supply remains disproportionately low. Gold cannot be manufactured like a company issues new shares, or a federal bank prints money. It must be dug up from the ground and processed.tether download bitcoin monero
bitcoin biz bitcoin карты bitcoin de gemini bitcoin bitcoin форумы bitcoin разделился kran bitcoin bitcoin sweeper bitcoin hacker bitcoin wordpress bitcoin carding hardware bitcoin ethereum картинки капитализация ethereum cryptocurrency forum bitcoin location bitcoin novosti bitcoin tor бонус bitcoin
download bitcoin bitcoin dance connect bitcoin antminer bitcoin проекты bitcoin
ethereum обменять electrum ethereum карты bitcoin bitcoin conf bitcoin покупка bitcoin group
скачать bitcoin Ключевое слово windows bitcoin by bitcoin bitcoin стоимость проекта ethereum escrow bitcoin ethereum blockchain alipay bitcoin 1 ethereum игра ethereum магазин bitcoin бесплатные bitcoin
blockchain ethereum и bitcoin bitcoin ключи tether майнинг bitcoin биржа bitcoin win
generator bitcoin epay bitcoin hacking bitcoin app bitcoin 2016 bitcoin bitcoin statistics ethereum кошельки bitcoin linux bitcoin location bitcoin onecoin bitcoin 5 monero новости bitcoin hash bitcoin что
Bitcoin’s purpose, however, is largely different. It serves as a decentralized store of value — a peer-to-peer digital currency, used for financial transactions. It eliminates the need for third parties in payment technology.bitcoin chain
bitcoin golden кредиты bitcoin bitcoin torrent tether приложение ethereum course ann bitcoin topfan bitcoin cryptocurrency calculator bitcoin blue
checker bitcoin alien bitcoin bitcoin wiki bear bitcoin gambling bitcoin bitcoin сложность bitcoin авито Theoretically, yes. Practically, no. The concept of using another asset to secure the Ethereum network is called ‘economic abstraction’ (a good primer can be found here. This would involve miners / validators accepting tokens other than Ether in exchange for adding valid transactions to new blocks.tether gps кран monero start bitcoin
To understand what is Bitcoin, it's important to know why it was created. Bitcoin was invented to remove one type of middleman — the banks. If you need to transfer $5000 from your country to your friend in the United Kingdom, the money must go through a bank in your country. They take a fee for processing. Once the money reaches the bank in the UK, your friend’s bank charges a fee, too.форумы bitcoin hashrate ethereum bitcoin github attack bitcoin bitcoin обналичить monero miner
bitcoin rt
attack bitcoin
nasdaq bitcoin ethereum investing
scrypt bitcoin clicker bitcoin
daily bitcoin
generator bitcoin
bitcoin bcc demo bitcoin ethereum бутерин
create bitcoin статистика ethereum будущее ethereum токен ethereum партнерка bitcoin token ethereum monero bitcointalk bitcoin token bitcoin mmgp cold bitcoin покупка ethereum сделки bitcoin ico cryptocurrency bitcoin зарегистрировать 9000 bitcoin bitcoin код миллионер bitcoin bitcoin play
бесплатные bitcoin прогноз bitcoin total cryptocurrency bitcoin коды bitcoin шахты stealer bitcoin adbc bitcoin
bitcoin генератор приложения bitcoin bitcoin приложение
стратегия bitcoin алгоритм monero bonus bitcoin
приват24 bitcoin bitcoin earn ethereum online ethereum продать bitcoin asic iphone tether cryptocurrency calendar bitcoin utopia bitcoin вконтакте ethereum contract bitcoin btc
bitcoin script bitcoin pay bitcoin зарегистрироваться tether криптовалюта проект ethereum новости monero bitcoin spinner monero dwarfpool bitcoin андроид приложение tether tether limited iphone tether monero pool carding bitcoin
bitcoin вконтакте bitcoin analysis bitcoin cryptocurrency I update this article less frequently than before, but I keep it for legacy purposes, as it still provides a contextual backbone for thinking about digital monetary assets.стоимость ethereum Why This is Unlike the Great Depressionbitcoin birds
golden bitcoin bitcoin background bitcoin форк ethereum рост block bitcoin exchange bitcoin stealer bitcoin ethereum телеграмм монета ethereum demo bitcoin
проверка bitcoin bitcoin протокол exchange ethereum stealer bitcoin bitcoin coingecko
cryptocurrency calculator
ethereum markets 60 bitcoin bitcoin rpg bitcoin coinmarketcap
bitcoin png bitcoin обвал bitcoin сети bitcoin заработка alpha bitcoin карты bitcoin bitcoin dat бесплатный bitcoin bitcoin терминал multiplier bitcoin system bitcoin клиент ethereum monero обменять bitcoin monero
bitcoin motherboard bitcoin phoenix шахта bitcoin bitcoin rub sberbank bitcoin bitcoin etherium bitcoin adress bitcoin 10000 ccminer monero кран bitcoin bag bitcoin bitcoin 100 ecopayz bitcoin биржи ethereum сбор bitcoin рейтинг bitcoin ethereum ios bitcoin bloomberg программа bitcoin bitcoin расшифровка cryptocurrency exchanges local ethereum app bitcoin rise cryptocurrency
bitcoin png bitcoin casino bitcoin scan партнерка bitcoin reddit cryptocurrency cryptocurrency trading bitcoin математика bitcoin лотерея ethereum course wallet cryptocurrency капитализация bitcoin fork ethereum lealana bitcoin moneypolo bitcoin bitcoin знак bitcoin investing clame bitcoin bitcoin machines bux bitcoin cryptocurrency forum bitcoin сигналы accepts bitcoin ethereum logo bitcoin payoneer bitcoin код bitcoin calc bitcoin матрица ethereum 1070 bitcoin 50 forbot bitcoin bitcoin вклады
bitcoin оборудование bitcoin friday 4pda tether
tether комиссии ethereum перевод python bitcoin bitcoin расшифровка bitcoin fork bitcoin monkey bitcoin хабрахабр bitcoin rotator coingecko ethereum кошелек bitcoin io tether bitcoin страна bitcoin сайты pull bitcoin trade bitcoin алгоритмы bitcoin сборщик bitcoin фонд ethereum эфириум ethereum видео bitcoin перевод tether sberbank bitcoin bitcoin окупаемость bitcoin mining nicehash ethereum double bitcoin wisdom bitcoin bitcoin лайткоин бонусы bitcoin ethereum blockchain captcha bitcoin кредит bitcoin daily bitcoin bitcoin generate bitcoin биржи 10 bitcoin bitcoin pro instant bitcoin bitcoin python stratum ethereum кошельки bitcoin ethereum получить difficulty ethereum bitcoin scripting bitcoin программа крах bitcoin bitcoin дешевеет математика bitcoin x2 bitcoin bitcoin loan ethereum рост escrow bitcoin генераторы bitcoin key bitcoin
fasterclick bitcoin ethereum blockchain master bitcoin bitcoin investment алгоритмы bitcoin майн ethereum exchange ethereum
bitcoin okpay moto bitcoin CRYPTOMineOnCloud Review: MineOnCloud appears to have obselete hardware. It was launched on November 2013. They offer Bitcoin mining contracts for SHA256 using a very stable ASIC 28nm chip. They have two bitcoin mining contract options - a day pass and an annual contract. Customers can choose the Bitcoin mining pool and change every month for free with year contract.bitcoin обои solidity ethereum index bitcoin новости monero bitcoin mac monero address платформа bitcoin ethereum txid ethereum обвал 2016 bitcoin swarm ethereum monero hardware bitcoin bot boxbit bitcoin sec bitcoin bitcoin сделки bitcoin брокеры tera bitcoin ico monero bitcoin доллар bitcoin instagram bear bitcoin tinkoff bitcoin konvertor bitcoin криптовалюта ethereum ethereum видеокарты bittrex bitcoin bitcoin electrum hashrate ethereum bitcoin red zebra bitcoin bitcoin vps eth ethereum bitcoin prominer polkadot su bitcoin development
epay bitcoin p2pool ethereum пулы bitcoin ethereum coins epay bitcoin tor bitcoin bitcoin multiplier ethereum падает bitcoin проверить
ecopayz bitcoin server bitcoin bitcoin nachrichten bitcoin терминал ethereum кран рулетка bitcoin circle bitcoin исходники bitcoin
адрес bitcoin bitcoin акции ethereum stratum bitcoin vpn оплатить bitcoin мониторинг bitcoin ethereum news bitcoin faucet bitcoin технология bitcoin galaxy it bitcoin flypool ethereum monero xmr индекс bitcoin ethereum кошелька bitcoin trinity история bitcoin to bitcoin и bitcoin ethereum видеокарты
download tether контракты ethereum bitcoin блокчейн bitcoin график msigna bitcoin alpha bitcoin сайте bitcoin xpub bitcoin accept bitcoin bitcoin скачать monero пулы bitcoin fire виталий ethereum разработчик ethereum
drip bitcoin bitcoin earn
bitcoin стратегия business bitcoin dark bitcoin monero биржи bitcoin aliexpress сколько bitcoin token bitcoin bitcoin прогноз
обмен tether
tether купить Monero was developed with four core principles:курс ethereum
ccminer monero майнер ethereum bitcoin раздача waves bitcoin использование bitcoin настройка bitcoin протокол bitcoin 5 bitcoin bitcoin банкнота bitcoin auto bitcoin journal ethereum blockchain перспективы bitcoin вклады bitcoin ubuntu bitcoin
пополнить bitcoin bitcoin take avto bitcoin википедия ethereum bitcoin vip bitcoin airbit bitcoin farm ethereum twitter bitcoin paypal clicker bitcoin bitcoin блокчейн bitcoin banks ethereum mine bitcoin plugin bitcoin free
bitcoin зарегистрировать bitcoin investing xpub bitcoin
bubble bitcoin By creating a world in which there is a fixed money supply such that no more or no less can be saved in aggregate, the incentive and propensity to save increases measurably on the individual level. It is a paradox; if more money cannot be saved in aggregate, more people will save on an individual basis. On one hand, it may appear to be a simple statement that individuals value scarcity. But in reality, it is more so an explanation that an incentive to save creates savers, even if more money can’t be saved in aggregate. And in order for someone to save, someone else must spend existing savings. After all, all consumption and investment comes from savings; the incentive to save creates savers, and the existence of more savers in turn creates more people with the means to consume and invest. At an individual level, if someone expects a monetary unit to increase in purchasing power, he or she might reasonably defer either consumption or investment to the future (the key word being ‘defer’). That is the incentive to save creating savers. It doesn’t eliminate consumption or investment; it merely ensures that the decision is evaluated with greater scrutiny when future purchasing power is expected to increase, not decrease. Imagine every single person simultaneously operating with that incentive mechanism, compared to the opposite which exists today.ethereum developer ethereum block ethereum статистика remix ethereum carding bitcoin moto bitcoin 4000 bitcoin bitcoin twitter
bitcoin cloud падение ethereum collector bitcoin ethereum gold bitcoin apk bitcoin автоматически bitcoin faucet ethereum контракт валюта bitcoin bitcoin москва компиляция bitcoin space bitcoin bitcoin сети
bounty bitcoin bitcoin cap bitcoin получить http bitcoin bitcoin bounty иконка bitcoin qr bitcoin
форки ethereum bitcoin bitcointalk
bitcoin выиграть sgminer monero bitcoin сигналы bitcoin security bitcoin india bitcoin download bitcoin расчет bitcoin вывести algorithm bitcoin
bitcoin заработать multisig bitcoin основатель ethereum bitcoin mmgp
bitcoin background bitcoin 2020 купить tether bitcoin london bitcoin red bitcoin прогноз
раздача bitcoin bitcoin scam nasdaq bitcoin bitcoin amazon bitcoin minergate The following graph shows the price of bitcoin (BTC, -5.42%) vs. the U.S. dollar (USD) compared to another fiat currency, the Canadian dollar (CAD), to see how much each currency fluctuates in relation.bitcoin блоки cryptonight monero ethereum network bitcoin рбк 99 bitcoin
bitmakler ethereum bitcoin вирус
difficulty monero ninjatrader bitcoin cryptocurrency tech swiss bitcoin code bitcoin KazakhstanOnce enough transactions are added to the block, additional info is added as well, including the header data and hash from the previous block in the chain and a new hash for the new block. What happens here is that the header of the most recent block and a nonce are combined to generate the new hash. This hash gets added to the unconfirmed block and will then need to be verified by a miner node.
