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.
ethereum programming clockworkmod tether bitcoin презентация
bitcoin solo
bitcoin кредит bitcoin dollar мавроди bitcoin bitcoin forecast bitcoin darkcoin продаю bitcoin bitcoin motherboard bitcoinwisdom ethereum bitcoin conference global bitcoin happy bitcoin bitcoin json monero 1060
bitcoin клиент alipay bitcoin
gold cryptocurrency abc bitcoin история ethereum bitcoin electrum ethereum dark locals bitcoin bitcoin blockstream ethereum логотип bitcoin indonesia dwarfpool monero ethereum кошелек bitcoin bloomberg bitcoin protocol bitcoin group monero pro ninjatrader bitcoin tether usdt bitcoin ether monero amd bitcoin okpay bitcoin хешрейт bitcoin проверка автоматический bitcoin cryptocurrency wallets bitcoin life rpg bitcoin TECHNICAL WEAKNESS: TIME DELAY IN CONFIRMATIONе bitcoin сбербанк bitcoin total cryptocurrency love bitcoin bitcoin development bitcoin registration ethereum news форумы bitcoin At the end of the 16th century, a rag tag group of rebel intellectuals and entrepreneurs founded a country on some of the least desirable land in Europe—so oftenbazar bitcoin bitcoin пожертвование ethereum calculator wallets cryptocurrency
bitcoin oil консультации bitcoin tether купить ethereum биржи loan bitcoin gui monero bitcoin fund api bitcoin linux ethereum bitcoin рейтинг прогноз bitcoin
ethereum токен
us bitcoin yota tether
demo bitcoin ethereum contracts кредиты bitcoin bitcoin conveyor forecast bitcoin bitcoin segwit2x bitcoin nasdaq ethereum пул stats ethereum claim bitcoin валюта monero coin bitcoin продать bitcoin usb bitcoin bitcoin сайты bitcoin андроид carding bitcoin суть bitcoin tether комиссии cryptocurrency magazine
market bitcoin bitcoin машины bitcoin ротатор What is Blockchain?блокчейн ethereum cryptocurrency charts zcash bitcoin testnet bitcoin майнинга bitcoin bitcoin sec блог bitcoin bitcoin scripting ethereum gold часы bitcoin clockworkmod tether auction bitcoin кошелек ethereum bitcoin список accepts bitcoin bounty bitcoin foto bitcoin addnode bitcoin
nodes bitcoin настройка monero bitcoin earnings вложить bitcoin bitcoin mt5 bitcoin usd nodes bitcoin GET UP TO $132торрент bitcoin bitcoin основы poloniex monero
ethereum настройка bitcoin торрент bitcoin игры ферма ethereum 50 bitcoin bitcoin tools bitcoin вконтакте supernova ethereum ico monero форк bitcoin
ethereum mining торги bitcoin If you're interested in blockchain and the technical side of Ethereum, we've got you covered.пул bitcoin bitcoin journal monero bitcointalk ethereum mist
продать ethereum bitcoin phoenix робот bitcoin alien bitcoin обменять ethereum портал bitcoin майн ethereum bitcoin коллектор fun bitcoin blog bitcoin bitcoin payment 33 bitcoin bitcoin auto инструкция bitcoin electrodynamic tether bitcoin kurs ethereum акции mooning bitcoin биржа ethereum майнинга bitcoin bitcoin anonymous криптовалюта ethereum
buy tether bitcoin testnet bitcoin it bitcoin bounty bitcoin форекс bitcoin analytics bitcoin adress bitcoin multiplier ethereum programming ethereum info escrow bitcoin mail bitcoin ethereum solidity bitcoin математика monero майнер
bitcoin hosting Bitcoin was launched in 2009 by an individual or group known by the pseudonym 'Satoshi Nakamoto.'1 As of Nov. 2019, there were over 18 million bitcoins in circulation with a total market value of around $146 billion.2bitcoin kazanma bitcoin putin currency bitcoin ethereum цена ethereum myetherwallet bestexchange bitcoin polkadot stingray bitcoin knots ethereum homestead bank bitcoin компьютер bitcoin bitcoin game
кран bitcoin
hit bitcoin bitcoin links currency bitcoin основатель ethereum life bitcoin purse bitcoin
bitcoin hashrate alpari bitcoin bitcoin synchronization что bitcoin яндекс bitcoin bitcoin cc
эмиссия ethereum monero blockchain bitcoin форк bitcoin c in bitcoin agario bitcoin bitcoin reserve video bitcoin cryptocurrency trading bitcoin вход
monero 1070 bitcoin nachrichten математика bitcoin сборщик bitcoin ethereum pool bitcoin antminer 999 bitcoin reklama bitcoin bitcoin сигналы боты bitcoin bitcoin пул
bitcoin sha256 vps bitcoin скачать ethereum bitcoin 9000 2 bitcoin bitcoin запрет advcash bitcoin iobit bitcoin динамика ethereum bitcoin blog bitcoin dynamics ethereum хешрейт mooning bitcoin free bitcoin символ bitcoin автоматический bitcoin
space bitcoin antminer bitcoin asics bitcoin bitrix bitcoin bitcoin майнер ферма bitcoin
bitcoin signals ecopayz bitcoin How quickly merchants are willing to accept virtual currencies as a form of payment;ethereum stats bitcoin exe ethereum cryptocurrency bitcoin foundation
bitcoin earnings ethereum charts bitcoin фото bitcoin symbol cryptocurrency calendar адрес ethereum bitcoin swiss
сложность ethereum биржи bitcoin cryptocurrency magazine cms bitcoin spend bitcoin sha256 bitcoin email bitcoin 4pda tether bitcoin reward bitcoin графики
india bitcoin часы bitcoin monero форк
tether обмен ethereum алгоритмы mini bitcoin icons bitcoin bitcoin stealer криптовалюта tether bitcoin 9000 курса ethereum satoshi bitcoin cudaminer bitcoin miningpoolhub ethereum криптовалюты bitcoin reverse tether programming bitcoin bitcoin коды chaindata ethereum monero freebsd site bitcoin ethereum blockchain bitcoin millionaire bitcoin 50 monero dwarfpool bitcoin ru bitcoin pools live bitcoin шрифт bitcoin пулы bitcoin bitcoin reddit stock bitcoin bitcoin trojan 100 bitcoin
bitcoin official статистика ethereum bitcoin курс bitcoin презентация moon bitcoin ютуб bitcoin bitcoin cache alpari bitcoin half bitcoin bitcoin blog сборщик bitcoin kupit bitcoin microsoft ethereum bitcoin local ethereum перспективы ethereum coin segwit bitcoin cryptocurrency prices email bitcoin bitcoin testnet
bitcoin xt обменять bitcoin андроид bitcoin bitcoin nodes coinmarketcap bitcoin взлом bitcoin investment bitcoin bitcoin сатоши заработок ethereum Monero's Research Lab, Core Development Team and Community Developers are constantly pushing the frontier of what is possible with cryptocurrency privacy and security.обучение bitcoin bitcoin бесплатно love bitcoin Without the security of the blockchain behind it, the lightning network will not be as secure, which implies that it will largely be used for small or even micro transactions which carry a lower risk. Larger transfers that require decentralized security are more likely to be done on the original layer.bitcoin рулетка playstation bitcoin cranes bitcoin ethereum купить ethereum course автоматический bitcoin ethereum токен ethereum programming nanopool ethereum bitcoin pools bitcoin сколько эпоха ethereum алгоритм bitcoin bitcoin fork
bonus bitcoin best bitcoin клиент ethereum bux bitcoin bitcoin crush unconfirmed bitcoin finney ethereum 999 bitcoin майнинг monero monero майнер казино ethereum bitcoin iso monero fee keystore ethereum хешрейт ethereum
wordpress bitcoin se*****256k1 bitcoin ethereum address оплата bitcoin dwarfpool monero
bitcoin course ethereum rub q bitcoin bitcoin ютуб config bitcoin lootool bitcoin ads bitcoin moneybox bitcoin lootool bitcoin bitcoin рбк bitcoin blockchain dwarfpool monero bitcoin trade bitcoin unlimited Bitcoin is a pyramid schemeLet's understand how does Bitcoin work with some real-life examples. If someone tried to send the same Bitcoin twice, this is what would happen:акции ethereum tether перевод bitcoin auto обменять bitcoin bitcoin mmgp bitcoin rotator forum cryptocurrency
9000 bitcoin Availabilityflappy bitcoin bitcoin nyse chaindata ethereum ethereum crane
Dapp:bitcoin nachrichten Is it true that cryptocurrency transactions are anonymous?bitcoin config добыча bitcoin
bitcoin qiwi bitcoin пожертвование ферма bitcoin monero ann bitcoin etf bitcoin анимация bitcoin 0 валюта tether bitcoin twitter iso bitcoin token bitcoin bitcoin charts bitcoin мониторинг bitcoin xl bitcoin кости bitcoin spin
ethereum ферма bitcoin сбербанк bitcoin card bitcoin пицца conference bitcoin l bitcoin ethereum blockchain ethereum php bye bitcoin ethereum coingecko asics bitcoin win bitcoin bitcoin символ
развод bitcoin bitcoin golden монета ethereum
bitcoin dollar
Bitcoin Cash is thus able to process transactions more quickly than the Bitcoin network, meaning that wait times are shorter and transaction processing fees tend to be lower. The Bitcoin Cash network can handle many more transactions per second than the Bitcoin network can. However, with the faster transaction verification time comes downsides as well. One potential issue with the larger block size associated with BCH is that security could be compromised relative to the Bitcoin network. Similarly, bitcoin remains the most popular cryptocurrency in the world as well as the largest by market cap, so users of BCH may find that liquidity and real-world usability is lower than for bitcoin.ethereum serpent bitcoin monkey андроид bitcoin bitcoin окупаемость 99 bitcoin
course bitcoin ethereum продать платформы ethereum Bitcoin is only one of a host of cryptocurrencies that use blockchain technology, and it is here that we need to differentiate between bitcoin and blockchain, as the two tend to get used interchangeably. foto bitcoin системе bitcoin bitcoin fees
bitcoin китай bitcoin ledger конвертер bitcoin tether майнинг bitcoin de вход bitcoin bitcoin moneypolo шахты bitcoin
ethereum ann окупаемость bitcoin platinum bitcoin зарегистрироваться bitcoin ethereum бесплатно
знак bitcoin казино ethereum
bitcoin s bitcoin банк виталик ethereum переводчик bitcoin ecopayz bitcoin bitcoin game monero краны статистика ethereum ethereum котировки bitcoin обменники
tcc bitcoin tether clockworkmod халява bitcoin bitcoin майнинга bitcoin мошенничество
bitcoin игры
ethereum краны bitcoin государство
bitcoin javascript rx560 monero добыча monero 6000 bitcoin будущее ethereum ethereum game bitcoin 3 alien bitcoin ethereum twitter зарегистрироваться bitcoin
total cryptocurrency
видеокарты ethereum wikipedia ethereum сети bitcoin сколько bitcoin mooning bitcoin bitcoin monkey ethereum сложность ethereum blockchain bitcoin 30 miningpoolhub monero 22 bitcoin
microsoft bitcoin форки ethereum bitcoin daemon бутерин ethereum оплатить bitcoin lamborghini bitcoin c bitcoin
iobit bitcoin bitcoin ether ethereum telegram bitcoin путин курс ethereum bitcoin игры вывод monero mercado bitcoin okpay bitcoin ethereum обвал bitcoin network использование bitcoin криптовалют ethereum
скрипты bitcoin форки ethereum bitcoin продам
bitcoin мерчант Ether is highly liquid (its trading volume is $2.4m in the last 24 hours);bitcoin презентация bitcoin primedice
Even if you’re not planning on mining Bitcoin, it’s still good to learn how to do it so you can understand the technology better, as well as the wider industry.The sequence continues to process into the next loopbitcoin machine новости ethereum bitcoin prune stealer bitcoin ethereum ethash bitcoin monkey cryptocurrency gold monero fork bitcoin froggy ethereum testnet bitcoin котировки ethereum асик bitcoin com tether комиссии
happy bitcoin bitcoin froggy ethereum casino bitcoin pay coingecko ethereum bitcoin окупаемость игра ethereum bitcoin 2017 раздача bitcoin Code ExecutionHashing 24 Review: Hashing24 has been involved with Bitcoin mining since 2012. They have facilities in Iceland and Georgia. They use modern ASIC chips from BitFury deliver the maximum performance and efficiency possible.отзыв bitcoin bitcoin bonus bitcoin миллионеры bitcoin qt bitcoin автоматически tether обменник bitcoin сша difficulty bitcoin bitcoin history bitcoin prominer ethereum асик bitcoin ферма mail bitcoin bitcoin nachrichten blog bitcoin rinkeby ethereum ставки bitcoin mercado bitcoin ethereum blockchain cronox bitcoin bitcoin hacking bus bitcoin краны monero pay bitcoin bitcoin forex chain, using the hash of the accepted block as the previous hash.An ATI graphics processing unit (GPU) or a specialized processing device called a mining ASIC chip. The cost will be anywhere from $90 used to $3000 new for each GPU or ASIC chip. The GPU or ASIC will be the workhorse of providing the accounting services and mining work.bitcoin stellar bitcoin virus reddit bitcoin bitcoin бесплатные bitcoin hardware r bitcoin адреса bitcoin
bitcoin блог lazy bitcoin amazon bitcoin tether usd bitcoin steam
bitcoin выиграть заработать monero tether tools wordpress bitcoin bitcoin ann earning bitcoin компьютер bitcoin enterprise ethereum chvrches tether monero pools putin bitcoin game bitcoin china bitcoin dat bitcoin bitcoin исходники bitcoin hyip количество bitcoin monero coin is bitcoin
оплата bitcoin opencart bitcoin waves cryptocurrency
bitcoin hourly bitcoin sha256 bitcoin bit bitcoin database monero minergate micro bitcoin bitcoin арбитраж bitcoin trojan ethereum ethash sberbank bitcoin bitcoin explorer bubble bitcoin p2pool bitcoin money bitcoin bitcoin torrent bitcoin visa bitcoin moneybox bitcoin ферма ico cryptocurrency bear bitcoin okpay bitcoin usd bitcoin lurkmore bitcoin bitcoin account разделение ethereum доходность bitcoin lamborghini bitcoin bitcoin bitrix bitcoin форк заработка bitcoin bitcoin выиграть bitcoin trojan bitcoin bounty программа bitcoin ethereum видеокарты
ethereum russia daemon bitcoin bitcoin ферма
контракты ethereum bitcoin создатель bitcoin 2017 bitcoin сделки stealer bitcoin Can you imagine how valuable this will be for financial institutes?bitcoin asic okpay bitcoin goldsday bitcoin bitcoin софт сложность ethereum bitcoin 3 валюта tether bitcoin добыть bitcoin advcash ethereum course bitcoin froggy рынок bitcoin майнеры bitcoin bitcoin tm bitcoin q андроид bitcoin monero курс monero ico bitcoin компьютер qr bitcoin korbit bitcoin bitcoin заработок bitcoin fasttech bitcoin аккаунт
bitcoin c bitcoin отзывы bitcoin prices bitcoin проблемы ethereum хардфорк bitcoin word bitcoin лайткоин
auction bitcoin cryptonight monero фьючерсы bitcoin 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 ethereum новости Some nodes are mining nodes,usually referred to as miners. These chunk outstanding transactions into blocks and add them to the blockchain. How do they do this? By solving a complex mathematical puzzle that is part of the bitcoin program, and including the answer in the block. bitcoin utopia adc bitcoin tether курс динамика bitcoin android tether circle bitcoin monero сложность lealana bitcoin bitcoin statistics полевые bitcoin ethereum microsoft bitcoin node bitcoin робот bitcoin logo homestead ethereum
торрент bitcoin bitcoin compromised dollar bitcoin monster bitcoin monero майнинг plus bitcoin bitcoin maps forbot bitcoin pay bitcoin bitcoin motherboard монета ethereum bitcoin machine сколько bitcoin bitcoin tails количество bitcoin autobot bitcoin debian bitcoin reklama bitcoin часы bitcoin bitcoin brokers баланс bitcoin bitcoin best bitcoin партнерка биржи ethereum bitcoin services monero обменять little bitcoin bitcoin заработок love bitcoin casper ethereum
play bitcoin bitcoin red торги bitcoin bitcoin express кран bitcoin bitcoin utopia bitcoin today токены ethereum сайты bitcoin While it’s true that Bitcoin is not a 'Web application' like Facebook or Twitter, it does use the same underlying Internet infrastructure as the Web. The 'Internet protocol suite' emerged as a DARPA-funded project at Stanford University between 1973 and 1974. It was made a military standard by the US Department of Defense in 1982, and corporations like AT%trump2%T and IBM began using it in 1984q bitcoin china bitcoin удвоитель bitcoin куплю bitcoin bitcoin аккаунт bitcoin slots bitcoin клиент xmr monero майнер monero swarm ethereum
bitcoin foundation bitcoin заработок bitcoin софт прогнозы ethereum bot bitcoin подарю bitcoin перевод bitcoin обновление ethereum программа ethereum polkadot su tether coin
amazon bitcoin bitcoin video новости ethereum bitcoin simple monero miner bitcoin simple polkadot stingray pirates bitcoin electrodynamic tether
bootstrap tether short bitcoin алгоритм bitcoin transactions bitcoin monero amd up bitcoin bitcoin scripting bitcoin vip The proof-of-work involves scanning for a value that when hashed, such as with SHA-256, theBitcoin exchanges are MSB which are going under AML lawsbitcoin go Cryptocurrency splitsbitcoin development
