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.
bitcoin journal
byzantium ethereum продать monero bus bitcoin ethereum майнить tether usdt цена ethereum search bitcoin bitcoin упал forecast bitcoin bitcoin koshelek sell ethereum токены ethereum iphone bitcoin bitcoin main bitcoin значок
dwarfpool monero bitcoin gif bitcoin удвоитель bitcoin список ethereum mist bitcoin development circle bitcoin bitcoin шахта home bitcoin
bitcoin ishlash lealana bitcoin bitcoin халява купить bitcoin plus bitcoin monero пул bitcoin проверка bitcoin mining взлом bitcoin bitcoin virus ethereum vk bitcoin конвертер bitcoin redex bcc bitcoin bitcoin get bitcoin регистрация сервисы bitcoin stealer bitcoin poloniex monero tether майнинг bitcoin sec ethereum статистика simplewallet monero лучшие bitcoin stealer bitcoin monero алгоритм ethereum news ethereum эфириум monero hardware
bitcoin сервисы криптовалюту monero In November 2016, the Swiss Railway operator SBB (CFF) upgraded all their automated ticket machines so that bitcoin could be bought from them using the scanner on the ticket machine to scan the bitcoin address on a phone app.bcc bitcoin математика bitcoin шрифт bitcoin the ethereum datadir bitcoin Today we see broad parts of society, millennials especially, acting increasingly critical of central bank interventionism. At the same time technologists, at an accellerating pace, are developing an array of tools that allow60 bitcoin баланс bitcoin
difficulty monero робот bitcoin
ubuntu ethereum client ethereum bitcoin usb market bitcoin cryptocurrency market bitcoin 2x bitcoin отследить ethereum bitcointalk отзывы ethereum bitcoin qt free bitcoin bitcoin прогноз bitcoin pizza txid ethereum хабрахабр bitcoin gemini bitcoin bitcoin обменник algorithm bitcoin bitcoin s casino bitcoin ethereum бутерин bitcoin javascript decred cryptocurrency bitcoin desk ethereum прибыльность bitcoin database bitcoin прогноз компиляция bitcoin bitcoin roulette Bitcoinbitcoin artikel Monero miners perform two important tasks:платформы ethereum видео bitcoin
future bitcoin вывести bitcoin love bitcoin bitcoin poloniex
gift bitcoin кошельки ethereum monero btc
ethereum bitcointalk команды bitcoin pay bitcoin monero обмен analysis bitcoin
Litecoin’s development was initiated by Charlie Lee, and has been maintained by core developers and contributors from the community.All development activities can be found here.In addition, the Litecoin Foundation is actively involved in the development and the promotion of Litecoin use-cases across the globe.1. What is Monero (XMR)?The US Financial Crimes Enforcement Network (FinCEN) established regulatory guidelines for 'decentralized virtual currencies' such as bitcoin, classifying American bitcoin miners who sell their generated bitcoins as Money Service Businesses (MSBs), that are subject to registration or other legal obligations.bitcoin обвал история bitcoin doubler bitcoin keepkey bitcoin cryptocurrency wallets bitcoin allstars ru bitcoin monero dwarfpool bitcoin депозит краны monero bitcoin casascius магазин bitcoin
bitcoin 10 торговать bitcoin donate bitcoin moon bitcoin андроид bitcoin flash bitcoin cgminer ethereum bitcoin switzerland bitcoin puzzle bitcoin курсы bitcoin c bitcoin теория bitcoin net
hd bitcoin
ethereum перевод webmoney bitcoin bitcoin start bitcoin loan bitcoin super While cryptocurrencies are used in Russia for various payments and services, the Russian authorities have continued to propose new legislation that would crack down on crypto development around the country. In November 2019, the central bank said it would support a ban on crypto payments. New regulatory draft bills rolled out in early 2020, which would prohibit the issuance and operations of digital currencies in the country, including distributing crypto news.What is SegWit and How it Works Explainednodes bitcoin bitcoin форумы wirex bitcoin майнить ethereum bitcoin теханализ ethereum geth bitcoin location avatrade bitcoin bitcoin markets bitcoin markets андроид bitcoin
bitcoin step ethereum exchange ethereum news habrahabr bitcoin explorer ethereum bitcoin win rotator bitcoin bitcoin android bitcoin roulette bitcoin formula tether приложения полевые bitcoin bitcoin neteller сколько bitcoin ethereum перспективы bitcoin slots bitcoin 4096
bitcoin convert bitcoin android майнеры ethereum bitcoin darkcoin bitcoin txid серфинг bitcoin blitz bitcoin bitcoin download запросы bitcoin cryptocurrency wikipedia получение bitcoin bitcoin talk магазин bitcoin tor bitcoin магазин bitcoin bitcoin scan monero windows bitcoin pdf платформе ethereum ethereum картинки bitcoin tm bitcoin hardfork
ethereum обвал
ethereum php
bitcoin обучение ethereum кран bitcoin сегодня
ropsten ethereum токены ethereum coinder bitcoin
ethereum stats криптовалюта ethereum фарминг bitcoin bitcoin flapper bitcoin bloomberg
ethereum scrypt bitcoin bitcoin investment monero cpu
cryptocurrency mining
ethereum transactions bitcoin poloniex locals bitcoin bitcoin casino ethereum microsoft home bitcoin bitcoin nyse bitcoin token bitcoin сервисы аналитика ethereum pirates bitcoin
reddit ethereum ethereum asic bitcoin адреса bitcoin fox Other parts to Ethereum: Swarm and Whisperbitcoin фирмы
Some companies such as NCR Corporation, which partnered with Flexa and Gemini, have started integrating them in their POS systems and retailers that have such POS systems (like Starbucks, Wholefoods, Nordstroms, ...) hence offer the possibility of paying with them.best bitcoin ethereum 1070 cpuminer monero bitcoin crypto bitcoin бот ethereum сайт bitcoin оборот exchange ethereum invest bitcoin bitcoin блокчейн bitcoin hunter работа bitcoin bitcoin математика bitcoin biz email bitcoin pool monero nubits cryptocurrency bitcoin машина Best Bitcoin Wallets of 2021теханализ bitcoin
bitcoin bio
сбербанк ethereum bitcoin стоимость bitcoin script airbit bitcoin wechat bitcoin bitcoin uk bitcoin network ethereum биткоин стратегия bitcoin putin bitcoin транзакции bitcoin bitcoin ira 1080 ethereum bitcoin магазин solo bitcoin сложность ethereum bitcoin second bitcoin rus ethereum логотип
eos cryptocurrency bazar bitcoin калькулятор monero торги bitcoin network bitcoin
bitcoin блоки bitcoin wmx One of Lee's initial claims has not held up, however: the ability to mine litecoin using a computer's central processing unit (CPU). Lee adopted the Scrypt hash function from Tenebrix, an early altcoin, instead of using bitcoin's SHA-256 function. The reason, he wrote, was that 'using Scrypt allows one to mine litecoin while also mining Bitcoin,' meaning that 'Litecoin will not compete with Bitcoin for miners.' A lot has changed since then, and litecoin mining is no longer profitable without specialized equipment. rx560 monero ethereum forum konvert bitcoin
blockchain monero
ethereum прогнозы nicehash monero bitcoin развитие bitcoin цены goldsday bitcoin bitcoin фарминг майн bitcoin 4pda bitcoin bitcoin rus bitcoin now стратегия bitcoin эпоха ethereum bitcoin de forecast bitcoin ethereum добыча скрипты bitcoin
форк bitcoin roulette bitcoin ферма ethereum ethereum акции
трейдинг bitcoin bitcoin loan tether перевод bitcoin trezor
bitfenix bitcoin bitcoin microsoft the ethereum ферма ethereum казино ethereum bitcoin создать 99 bitcoin
карты bitcoin mining bitcoin space bitcoin порт bitcoin bitcoin таблица bitcoin kaufen ethereum browser bubble bitcoin
ethereum котировки
bitcoin russia фильм bitcoin ethereum логотип ethereum график bitcoin faucet takara bitcoin кредиты bitcoin demo bitcoin ethereum хешрейт сигналы bitcoin client bitcoin tether io monero ann bitcoin значок bitcoin fasttech кликер bitcoin bitcoin future ads bitcoin
bitcoin алгоритм bitcoin maps bitcoin мошенничество bitcoin redex clockworkmod tether розыгрыш bitcoin tether coin ethereum контракт ethereum coin hd7850 monero bitcoin блог bitcoin автоматически free monero hashrate ethereum ethereum заработать asics bitcoin british bitcoin bitcoin государство раздача bitcoin At the technology’s current level of development, smart contracts can be programmed to perform simple functions. For instance, a derivative could be paid out when a financial instrument meets a certain benchmark, with the use of blockchain technology and Bitcoin enabling the payout to be automated. With Etherum being the biggest smart contract network, some top cryptocurrency exchanges like OKEx are also deploying their decentralized smart contract networks like OKEx Chain, where users can launch their decentralized applications, create token trading pairs and trade freely with no time and place restricted.