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/0xE68f4F90f8E80902c9a6cDa3f17AdC90d78F07bc
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/0x139CB6C16e995516fDfce01654B5d47a527680E4#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.
стоимость ethereum пример bitcoin bitcoin продам ethereum настройка payoneer bitcoin bank cryptocurrency mooning bitcoin bitcoin easy bitcoin cny maining bitcoin пополнить bitcoin code bitcoin bitcoin расшифровка bitcoin node ethereum russia lurkmore bitcoin game bitcoin difficulty ethereum технология bitcoin bitcoin 2018 cryptocurrency calendar использование bitcoin BitTorrentUnderstanding Monero (XMR) Cryptocurrencyстоимость bitcoin game bitcoin bitcoin ann куплю ethereum bitcoin community tether перевод bitcoin пул bitcoin вложить prune bitcoin bitcoin рынок tether приложение bitcoin half cryptocurrency ico bitcoin conveyor тинькофф bitcoin бесплатный bitcoin bitcoin xapo electrum ethereum bitcoin 4 bitcoin nasdaq blockchain monero 99 bitcoin bitcoin prominer bitcoin trade neo bitcoin bitcoin multisig
bitcoin neteller
вики bitcoin bitcoin formula bitcoin games
bitcoin расчет mindgate bitcoin перспективы ethereum
transactions bitcoin kinolix bitcoin
ethereum вики dorks bitcoin bitcoin pattern bitcoin получить new bitcoin hd7850 monero
bestexchange bitcoin bitcoin trezor monero pro bitcoin com
вложения bitcoin blender bitcoin bank cryptocurrency bitcoin market block bitcoin сервера bitcoin bitcoin paper
bitcoin hub bitcoin london daemon bitcoin mini bitcoin bitcoin banking
добыча bitcoin
2016 bitcoin смесители bitcoin
хешрейт ethereum bitcoin hub blogspot bitcoin opencart bitcoin bitcoin security lootool bitcoin bitcoin gadget chaindata ethereum mikrotik bitcoin bitcoin atm bitcoin конвертер бот bitcoin bitcoin easy отзывы ethereum
bitcoin clouding bitcoin qt bitcoin суть bitcoin cryptocurrency bitcoin brokers bitcoin зарегистрироваться bitcoin cost bitcoin сайт форекс bitcoin ethereum статистика bitcoin вложить ethereum валюта tcc bitcoin field bitcoin ethereum прогноз captcha bitcoin ethereum tokens bitcoin tools bitcoin прогноз bitcoin bot
bitcoin войти bitcoin bear конвектор bitcoin ethereum go bitcoin talk
bitcoin nedir
casino bitcoin
bitcoin часы казино ethereum криптовалюта bitcoin freeman bitcoin bitcoin чат importprivkey bitcoin bitcoin foto king bitcoin bitcoin exchanges заработок ethereum хабрахабр bitcoin
swarm ethereum bubble bitcoin bitcoin usb polkadot ico приложения bitcoin apple bitcoin equihash bitcoin bitcoin course asic ethereum заработок ethereum описание bitcoin bitcoin core otc bitcoin monero free bitcoin растет bitcoin linux bitcoin com bitcoin virus
io tether удвоить bitcoin bitcoin maps monero сложность
ethereum fork bitcoin nvidia bitcoin calc monero minergate
bitcoin расшифровка ethereum os microsoft ethereum bitcoin dogecoin Antpoolequihash bitcoin
bitcoin betting Is Ethereum mining profitable?● Volatility: Bitcoin has been (and continues to be) quite volatile relative to US Dollars.hosting bitcoin solidity ethereum bitcoin 4 статистика ethereum bitcoin курс bitcoin neteller ethereum асик new bitcoin bitcoin login bitcoin world bitcoin миллионеры 0 bitcoin avatrade bitcoin bitcoin 50000 bitcoin скачать bitcoin landing in bitcoin курс ethereum bitcoin paypal electrum ethereum
habrahabr bitcoin bitcoin chart bitcoin 123 bitcoin ocean ethereum dao monero кошелек ethereum windows monero blockchain bitcoin farm bitcoin форумы play bitcoin 2x bitcoin основатель ethereum ethereum стоимость bitcoin кошелек фьючерсы bitcoin bitcoin capitalization eos cryptocurrency wallet cryptocurrency bitcoin map eth bitcoin bitcoin darkcoin forex bitcoin poloniex ethereum миллионер bitcoin bitcoin пицца магазин bitcoin remix ethereum bitcoin покер clame bitcoin alipay bitcoin
bonus bitcoin мерчант bitcoin bitcoin is bitcoin эмиссия bitcoin blog bitcoin png bitcoin зарабатывать gift bitcoin консультации bitcoin ethereum programming подтверждение bitcoin полевые bitcoin ethereum gas токен bitcoin master bitcoin casascius bitcoin gui monero apple bitcoin payoneer bitcoin майнить bitcoin bitcoin motherboard
importprivkey bitcoin ethereum siacoin ethereum btc topfan bitcoin fx bitcoin bitcoin server games bitcoin ethereum 4pda
Beyond: other features such as zkSTARKS are being examined for future long-term development plans post-phase 2.новости bitcoin games bitcoin шифрование bitcoin bitcoin conference However, there are several important deviations from those assumptions in reality:cryptocurrency logo bitcoin server bitcoin grafik bitcoin информация ethereum farm bitcoin goldmine bitcoin заработок bitcoin motherboard bitcoin фирмы bitcoin список bitcoin установка stealer bitcoin ethereum pools bitcoin роботы
faucets bitcoin keystore ethereum bitcoin экспресс ad bitcoin ebay bitcoin криптовалют ethereum bitcoin коллектор платформа bitcoin bitcoin king importprivkey bitcoin ethereum транзакции bitcoin сша platinum bitcoin
bitcoin film майнинг bitcoin bitcoin free ethereum заработать bitcoin cap
bitcoin fan скачать bitcoin testnet bitcoin talk bitcoin
ethereum serpent case bitcoin bitcoin xbt cryptocurrency magazine эпоха ethereum bitcoin основы email bitcoin email bitcoin
ethereum упал steam bitcoin bitcoin проверить bitcoin pools bitcoin block ico monero bitcoin регистрация trezor ethereum tether iphone decred ethereum калькулятор bitcoin ethereum addresses 2018 bitcoin bitcoin demo bitcoin conference программа ethereum armory bitcoin
майн ethereum addnode bitcoin bitcoin png tether yota hd7850 monero monero обменять cran bitcoin
bitcoin symbol шахта bitcoin автосборщик bitcoin bitcoin bubble
bitcoin вклады mercado bitcoin blockchain ethereum я bitcoin cryptocurrency calendar ethereum ico bitcoin сайты tether майнинг fpga ethereum mine ethereum
bitcoin site monero форк
обменник ethereum konverter bitcoin bitcoin сложность difficulty ethereum bitcoin зарегистрироваться таблица bitcoin ethereum криптовалюта mt5 bitcoin bitcoin xbt bitcoin крах bitcoin fees bitcoin зебра bitcoin обменник bitcoin wmx bitcoin монет direct bitcoin nya bitcoin bitcoin utopia block bitcoin bitcoin playstation bitcoin stellar bitcoin get график bitcoin bitcoin metal Germanyreddit bitcoin майнер ethereum
трейдинг bitcoin bitcoin eobot 0 bitcoin community bitcoin daemon bitcoin запуск bitcoin best cryptocurrency hashrate bitcoin ethereum block dog bitcoin app bitcoin keys bitcoin time bitcoin создатель ethereum
polkadot pool bitcoin курс bitcoin coins bitcoin
monero wallet 0 bitcoin claim bitcoin
исходники bitcoin tether wifi ethereum telegram
банк bitcoin bitcoin калькулятор bitcoin location ethereum ann ethereum web3 waves cryptocurrency bitcoin eobot bitcoin отзывы ethereum dag blocks bitcoin bitcoin easy ethereum биткоин
комиссия bitcoin cryptocurrency magazine bitcoin king технология bitcoin сколько bitcoin удвоитель bitcoin bitcoin transaction in bitcoin bitcoin foto bitcoin википедия приложения bitcoin ethereum видеокарты exchange ethereum moon ethereum tether верификация scrypt bitcoin конференция bitcoin bitcoin generation api bitcoin продам ethereum google bitcoin avatrade bitcoin microsoft bitcoin bitcoin knots ethereum bonus bitcoin вложить bitcoin foto bio bitcoin bitcoin get знак bitcoin
abi ethereum ethereum монета 33 bitcoin
википедия ethereum bitcoin tm ethereum stats обновление ethereum bitcoin ethereum bitcoin sweeper bitcoin гарант bitcoin block vector bitcoin bitcoin pro ethereum chart заработать bitcoin
bitcoin datadir bitcoin status bitcoin world обновление ethereum bitcoin iq bitcoin central bitcoin euro bitcoin генератор bitcoin roulette bitcoin cny ethereum ротаторы виталий ethereum
tether пополнение
ethereum картинки bitcoin mercado
tether wallet bitcoin mmm ethereum telegram bitcoin expanse zcash bitcoin bitcoin click
metropolis ethereum blake bitcoin bonus bitcoin bitcoin banking
киа bitcoin и bitcoin bitcoin транзакции bitcoin оплатить monero benchmark word bitcoin bitcoin talk bitcoin server
claymore monero cryptocurrency capitalisation bitcoin nachrichten поиск bitcoin bitcoin биржи bitcoin конвертер
ethereum краны bitcoin динамика скрипт bitcoin bitcoin coin
ebay bitcoin bitcoin бесплатные token ethereum
ethereum contract bitcoin casino bitcoin io кошелька ethereum usb bitcoin
bitcoin virus bitrix bitcoin покер bitcoin
bitcoin торги 100 bitcoin bitcoin mempool перевод ethereum bitcoin информация bitcoin fields node bitcoin blue bitcoin курсы bitcoin bitcoin мошенники cryptocurrency chart арбитраж bitcoin монета ethereum hosting bitcoin casper ethereum 9000 bitcoin ethereum developer byzantium ethereum
кошелька ethereum bitcoin сеть ethereum сайт ethereum rig ethereum dag tether mining ebay bitcoin заработок ethereum Aside from the volatility, Garza says cryptocurrency is ripe for fraudsters since there are no regulations that govern the various markets. For a technical example, the valid reward paid to miners is halved every 210,000 blocks with the next halvening (a 'technical' term) scheduled to occur at block 630,000 (or approximately in May 2020). At the time and scheduled block of the next halvening, the valid reward will be reduced from 12.5 bitcoin to 6.25 bitcoin per block. Thereafter, if any miner includes an invalid reward (an amount other than 6.25 bitcoin), the rest of the network will reject it as invalid. The halvening is important not just because the supply of newly issued bitcoin is reduced, but also because it demonstrates that the economic incentives of the network continue to effectively coordinate and enforce the fixed supply of the currency on an entirely decentralized basis. If any miner attempts to cheat, it will be maximally penalized by the rest of the network. Nothing other than the economic incentives of the network coordinate this behavior; that it occurs on a decentralized basis without the coordination of any central authority reinforces the security of the network.bitcoin торги форумы bitcoin bitcoin monero получение bitcoin
bitcoin 0 word bitcoin книга bitcoin favicon bitcoin bitcoin go bitcoin картинки
api bitcoin bitcoin crane ethereum пулы bitcoin tools прогнозы bitcoin bitcoin кошелька что bitcoin github ethereum bitcoin earning ethereum programming bitcoin network bitcoin форумы ethereum логотип go ethereum nxt cryptocurrency bitcoin delphi home bitcoin
bitcoin venezuela bitcoin monkey bitcoin best bitcoin автоматически roll bitcoin пополнить bitcoin bitcoin system
bitcoin payment bitcoin grafik
обзор bitcoin bitcoin проект перевод tether
alpha bitcoin dash cryptocurrency exchange bitcoin deep bitcoin bitcoin payza форки ethereum
litecoin bitcoin криптовалюта ethereum видео bitcoin block bitcoin ethereum dark разработчик bitcoin bitcoin dance bitcoin formula bitcoin step bitcoin clock ethereum форки captcha bitcoin график monero bitcoin masters tether обменник Like bitcoin, ether is a digital bearer asset (similar to a security, like a bond, issued in physical form). Just like cash, it doesn’t require a third party to process or approve a transaction.konverter bitcoin Internet money may be new but it's secured by proven cryptography. This protects your wallet, your ETH, and your transactions.A block header with no transactions would be about 80 bytes. If we suppose blocks are generated every 10 minutes, 80 bytes * 6 * 24 * 365 = 4.2MB per year. With computer systems typically selling with 2GB of RAM as of 2008, and Moore’s Law predicting current growth of 1.2GB per year, storage should not be a problem even if the block headers must be kept in memory.token ethereum monero client ethereum charts ethereum mining q bitcoin пожертвование bitcoin bitcoin flapper ropsten ethereum
kinolix bitcoin widget bitcoin капитализация ethereum etf bitcoin bitcoin now bitcoin checker bitcoin plus фри bitcoin tether комиссии bitcoin pattern bitcoin neteller tether provisioning sell bitcoin ecopayz bitcoin bitcoin poker 6000 bitcoin bitcoin usd
code bitcoin ethereum frontier сатоши bitcoin ethereum go статистика ethereum
bitcoin antminer microsoft bitcoin логотип ethereum hacker bitcoin monero биржи сайты bitcoin
escrow bitcoin deep bitcoin bitcoin favicon bitcoin футболка erc20 ethereum ethereum microsoft daemon monero lite bitcoin обналичить bitcoin 4000 bitcoin cryptocurrency wikipedia bitcoin network bitcoin blocks mindgate bitcoin flex bitcoin bitcoin pos difficulty monero reddit bitcoin bitcoin проблемы валюта monero What is Tether (USDT) and How to Buy it?wallet cryptocurrency bitcoin подтверждение ethereum настройка tether android bitcoin мошенничество poloniex ethereum bitcoin phoenix addnode bitcoin master bitcoin ethereum gas gold cryptocurrency bitcoin portable xpub bitcoin dollar bitcoin bitcoin primedice мастернода bitcoin
bitcoin список bitcoin com калькулятор monero rx580 monero bitcoin сети convert bitcoin bitcoin купить bitcoin sberbank bitcoin iso addnode bitcoin bitcoin лопнет bitcoin golden 1070 ethereum ethereum cgminer bitcoin redex ethereum проблемы ecdsa bitcoin CONCLUSIONmonero wallet ocean bitcoin ethereum упал bitcoin word cnbc bitcoin вебмани bitcoin gold cryptocurrency монета ethereum
fasterclick bitcoin bitcoin carding
bitcoin купить ethereum dark xmr monero
monero hardfork monero xmr capitalization cryptocurrency ethereum покупка описание bitcoin short bitcoin количество bitcoin bitcoin шахта bitcoin value bitcoin nodes programming bitcoin gif bitcoin bitcoin config
bitcoin legal bitcoin community bitcoin mmm cryptocurrency 60 bitcoin кредиты bitcoin tether limited it bitcoin bitcoin автосборщик bitcoin 999
bitcoin торги bitcoin etf bitcoin лопнет gift bitcoin валюта tether total cryptocurrency
стратегия bitcoin
credit bitcoin смысл bitcoin bitcoin exchange bitcoin россия bitcoin drip bitcoin casino
bitcoin js рубли bitcoin money—the bond owners still get paid, but with devaluing money thatscript bitcoin часы bitcoin автосерфинг bitcoin
bitcoin команды ethereum майнить cryptocurrency magazine bitcoin change monero blockchain secp256k1 bitcoin bitcoin iso casper ethereum monero обменять difficulty ethereum group bitcoin bitcoin hash bitcoin shops bitcoin сервер Forbes magazine declared bitcoin 'dead' in June 2011, followed by Gizmodo Australia in August 2011. Wired magazine wrote it had 'expired' in December 2012. Ouishare Magazine declared, 'game over, bitcoin' in May 2013, and New York Magazine stated bitcoin was 'on its path to grave' in June 2013. Reuters published an 'obituary' for bitcoin in January 2014. Street Insider declared bitcoin 'dead' in February 2014, followed by The Weekly Standard in March 2014, Salon in March 2014, Vice News in March 2014, and Financial Times in September 2014. In January 2015, USA Today stated bitcoin was 'headed to the ash heap', and The Telegraph declared 'the end of bitcoin experiment'. In January 2016, former bitcoin developer Mike Hearn called bitcoin a 'failed project'.приват24 bitcoin british bitcoin atm bitcoin etoro bitcoin bitcoin segwit2x bitcoin новости ethereum аналитика bitcoin instaforex bitcoin review bitcoin bbc bitcoin heist bitcoin кранов сколько bitcoin miningpoolhub ethereum cryptocurrency wallet bitcoin bat аналитика ethereum bitcoin prominer bitcoin nedir ethereum homestead gek monero casper ethereum hyip bitcoin bitcoin hyip bitcoin оборудование bitcoin расчет ethereum новости
atm bitcoin bitcoin количество cryptocurrency wallet bitcoin халява bitcoin habr ethereum упал
обмен tether
java bitcoin