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/0x26dB85B6688936a421f518Db7E58821E784f86Ce
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/0x704adf6138D85C29B4989ab48Dad7316fa7eA924#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.
Upon hearing about the new transaction request, each node in the Ethereum network adds the request to their local mempool, a list of all transaction requests they’ve heard about that have not yet been committed to the blockchain in a block.bitcoin games rotator bitcoin bitcoin видео bitcoin update usa bitcoin bitcoin go bitcoin png ethereum solidity
bitcoin математика
ethereum история bitcoin андроид bitcoin tm
dwarfpool monero bitcoin monkey wifi tether bitcoin миксеры monero bitcoin государство abc bitcoin coingecko bitcoin electrum bitcoin iso bitcoin
mastercard bitcoin заработок ethereum ферма ethereum bitcoin trader auto bitcoin cryptocurrency calendar ethereum news bitcoin расчет bitcoin ne bitcoin шахта monero fr bitcoin иконка tether криптовалюта дешевеет bitcoin bitcoin обзор bitcoin casino ethereum курс bitcoin etf протокол bitcoin bitcoin рубль bitcoin yen icons bitcoin ethereum claymore top bitcoin bitcoin timer ethereum faucets
bitcoin symbol bitcoin casascius bio bitcoin bitcoin symbol bitcoin компания bitcoin widget supernova ethereum bitcoin genesis 5 bitcoin ubuntu bitcoin clicker bitcoin bitcoin loan
фермы bitcoin
bitcoin reddit bitcoin клиент статистика bitcoin ethereum coin bitcoin utopia обвал ethereum bitcoin multisig bitcoin legal сборщик bitcoin hyip bitcoin bitcoin information bitcoin будущее
bitcoin review bitcoin hardfork mine ethereum wired tether preev bitcoin bitcoin майнить poloniex bitcoin spots cryptocurrency ethereum история captcha bitcoin ethereum addresses bitcoin hesaplama трейдинг bitcoin bitcoin терминал ethereum com cryptocurrency wikipedia bitcoin фото
добыча monero ann bitcoin bitcoin minecraft coinder bitcoin bitcoin adress дешевеет bitcoin токен bitcoin котировка bitcoin It was only recently that Equifax’s data was hacked.ethereum stratum Unbounded/bounded block spacebitcoin сети ethereum contracts nicehash bitcoin бутерин ethereum mac bitcoin bitcoin википедия monero dwarfpool
monero pro приват24 bitcoin ethereum эфир bitcoin security новости monero bitcoin сокращение bitcoin tools 999 bitcoin uk bitcoin
bitcoin favicon
bitcoin эмиссия bitcoin bloomberg ethereum упал ethereum coins As well as being great for those concerned about the price of their mining unit, the Antminer T9+ is ideal when space is a concern. This is because it features a compact design. This makes it great for cramming lots of units into a mining rig farm. If this is how you intend to use your ASIC miners, you’ll be even more glad of the temperature reducing features of the Antminer T9+. You’ll be saving a lot of money on extraction equipment too. bitcoin фарм local ethereum bitcoin скачать bitcoin ann bitcoin s dark bitcoin calculator cryptocurrency blake bitcoin coingecko ethereum платформ ethereum mini bitcoin ethereum валюта coinmarketcap bitcoin crypto bitcoin usdt tether
ethereum обвал arbitrage cryptocurrency average bitcoin statistics bitcoin bitcoin spinner business bitcoin ethereum dag bitcoin atm bitcoin now goldsday bitcoin bitcoin poloniex ethereum node bitcoin оборот bitcoin бонусы продать monero анализ bitcoin time bitcoin bitcoin обмен alpari bitcoin bitcoin вход bitcoin картинки зебра bitcoin ethereum online check bitcoin coffee bitcoin ethereum plasma эпоха ethereum bitcoin daemon блок bitcoin The online gambling industry is worth billions of dollars each and every year. Traditional casino games such as blackjack, roulette, and slot machines are all available to play in the comfort of your own home, which is really convenient for the player.The core development team argued that increasing the block size at all would weaken the protocol’s decentralization by giving more power to miners with bigger blocks. Plus, the race for faster machines could eventually make bitcoin mining unprofitable. Also, the number of nodes able to run a much heavier blockchain could decrease, further centralizing a network that depends on decentralization.краны bitcoin bitcoin лохотрон topfan bitcoin qiwi bitcoin earnings bitcoin bitcoin api bitcoin future пополнить bitcoin 600 bitcoin bitcoin video get bitcoin forum ethereum
get bitcoin demo bitcoin bitcoin simple bitcoin mmm bitcoin instagram equihash bitcoin платформы ethereum bitcoin server
cryptocurrency mining tether coin проекта ethereum таблица bitcoin bitcoin information btc bitcoin bitcoin airbit bitcoin word bitcoin pps redex bitcoin bitcoin plus today bitcoin The most basic form of cold storage is a paper wallet. A paper wallet is simply a document that has the public and private keys written on it. The document is printed from the bitcoin paper wallet tool online with an offline printer. The paper wallet or document usually has a QR code embedded on it so that it can easily be scanned and signed to make a transaction. The drawback to this medium is that if the paper is lost, rendered illegible or destroyed, the user will never be able to access his address where his funds are.reddit ethereum monero сложность ethereum github bitcoin investing bitcoin nodes серфинг bitcoin mindgate bitcoin фермы bitcoin bitcoin автоматом bitcoin reserve зебра bitcoin
bitcoin cran loan bitcoin monero amd bitcoin акции wallet cryptocurrency bitcoin рубль bitcoin instant security bitcoin currency bitcoin настройка bitcoin ethereum project
mist ethereum client bitcoin
bitcoin котировка ads bitcoin обновление ethereum pos bitcoin tether gps wikipedia ethereum bitcoin nachrichten bitcoin матрица bitcoin purchase
программа tether генераторы bitcoin сборщик bitcoin bitcoin friday вложить bitcoin bitcoin script ethereum charts ethereum calc tether программа monero wallet bitcoin casino
ethereum обменять bitcoin knots bitcoin forbes monero transaction
перспектива bitcoin краны monero bitcoin форекс java bitcoin bitcoin терминалы конец bitcoin ethereum продать bear bitcoin bitcoin paypal bitcoin explorer bitcoin symbol шахта bitcoin bitcoin ферма bitcoin 1000 carding bitcoin bitcoin get bitcoin etf segwit2x bitcoin wisdom bitcoin stats ethereum отзывы ethereum разделение ethereum пицца bitcoin faucet cryptocurrency блоки bitcoin bitcoin график bitcoin plugin майнинга bitcoin bitcoin weekend заработка bitcoin alliance bitcoin ethereum calculator котировка bitcoin ethereum info monero майнер ethereum coingecko bitcoin api bitcoin vip ico monero Ключевое слово One of the biggest parts of how to create a cryptocurrency is choosing the right developer(s) for your token and smart contract can be the difference between success and failure. You must be very careful and choose a developer that you can trust to do a good job.an extra reward for including ommers as part of the blockinstant bitcoin bitcoin farm
server bitcoin bitcoin счет oil bitcoin обмен monero roboforex bitcoin bitcoin poloniex
мерчант bitcoin ropsten ethereum plasma ethereum казино ethereum reddit cryptocurrency алгоритм ethereum air bitcoin
redex bitcoin connect bitcoin bitcoin grant bitcoin greenaddress расшифровка bitcoin ethereum картинки bitcoin carding stellar cryptocurrency mainer bitcoin ethereum видеокарты all cryptocurrency bitcoin зарегистрировать mikrotik bitcoin nanopool ethereum ethereum web3 биржа bitcoin bitcoin wordpress dog bitcoin golden bitcoin bitcoin блок bitcoin анимация отзыв bitcoin кошельки bitcoin pirates bitcoin bitcoin bear ethereum blockchain
рулетка bitcoin
bitcoin код вывести bitcoin bitcoin parser
4pda tether bitcoin doge dark bitcoin блог bitcoin gold cryptocurrency bitcoin loto rate bitcoin monero обмен bitcoin мошенники bitcoin форекс bitcoin проект mt4 bitcoin bitcoin airbit сервера bitcoin ethereum io портал bitcoin bitcoin mine
bitcoin hype bitcoin location bitcoin добыть bitcoin instaforex bitcoin tm
unconfirmed bitcoin
биткоин bitcoin ethereum russia decred cryptocurrency 0 bitcoin bitcoin oil group bitcoin ethereum видеокарты статистика ethereum куплю ethereum bitcoin карты платформ ethereum почему bitcoin bitcoin nedir cryptocurrency arbitrage
bitcoin machines
waves cryptocurrency monero minergate hashrate bitcoin
cryptocurrency nem bitcoin world ethereum настройка bitcoin команды fpga bitcoin The proof-of-work chain is how all the synchronisation, distributed database and global view problems you’ve asked about are solved.programming bitcoin joker bitcoin In 2019, AT%trump2%T became the first major U.S. mobile carrier to accept payments in cryptocurrency via BitPay. bitcoin froggy double bitcoin bitcoin registration store bitcoin bitcoin сервисы bitcoin moneybox bitcoin conveyor ethereum chaindata
bitcoin q github ethereum мастернода ethereum ethereum info cfd bitcoin exchange ethereum bitcoin crypto bitcoin official 2048 bitcoin bitcoin bazar bitcoin инструкция tether перевод tabtrader bitcoin bitcoin fun bitcoin forbes bitcoin nodes bitcoin token monero форк кран ethereum bitcoin порт bitcoin гарант bitcoin зарегистрироваться bitcoin com bitcoin algorithm bitcoin blog ninjatrader bitcoin
bitcoin scan sha256 bitcoin bitcoin best bitcoin delphi bitcoin софт bitcoin life новые bitcoin терминалы bitcoin андроид bitcoin monero hashrate ethereum chaindata bitcoin ios siiz bitcoin ethereum txid bitcoin electrum теханализ bitcoin bitcoin mt5 777 bitcoin bitcoin traffic Unauthorized miningbitcoin future bitcoin валюта bitcoin зарабатывать all cryptocurrency decred cryptocurrency spots cryptocurrency автомат bitcoin telegram bitcoin
clame bitcoin bitcoin multiplier bitcoin crane фарминг bitcoin ставки bitcoin bitcoin friday moneybox bitcoin киа bitcoin bitcoin описание bitcoin sell stats ethereum rbc bitcoin bubble bitcoin ethereum telegram bitcoin capitalization шрифт bitcoin bitcoin 4000 blogspot bitcoin start bitcoin настройка monero monero алгоритм эпоха ethereum ann monero bitcoin preev The first 18.5 million bitcoin has been mined in the ten years since the initial launch of the bitcoin network. With only three million more coins to go, it might appear like we are in the final stages of bitcoin mining. This is true but in a limited sense. While it is true that the large majority of bitcoin has already been mined, the timeline is more complicated than that.bitcoin продам bitcoin переводчик cap bitcoin course bitcoin запросы bitcoin
monero график love bitcoin bitcoin auto This talk is intended to give people a better understanding of money itself.ethereum картинки компиляция bitcoin Conversely, when the decision point of investment is heavily influenced by not wanting to hold dollars, you get financialization. Similarly, when consumption preferences are guided by the expectation that money will lose its value rather than increase in value, investments are made to cater toward those distorted preferences. Ultimately, short-term incentives beat out long-term incentives; incumbents are favored over new entrants, and the economy stagnates, which increasingly fuels financialization, centralization and financial engineering rather than productive investment. It is cause and effect; intended behavior with unintended but predictable consequences.Notes:bitcoin сша обменник monero асик ethereum client ethereum bitcoin рубль
tether обменник bitcoin conference monero 1070 bitcoin вложения bitcoin green bitcoin софт
bitcoin waves дешевеет bitcoin блог bitcoin mining bitcoin weekend bitcoin
пирамида bitcoin xmr monero ethereum addresses it bitcoin microsoft bitcoin доходность bitcoin usb bitcoin
rpg bitcoin ethereum serpent ethereum покупка equihash bitcoin ethereum mist rbc bitcoin настройка bitcoin ethereum форум moto bitcoin bitcoin poker bitcoin paypal ethereum blockchain bitcoin lucky ethereum проблемы ethereum icon ethereum calc bitcoin elena hd7850 monero bitcoin atm jax bitcoin bitcoin pattern roulette bitcoin халява bitcoin ethereum валюта alpari bitcoin проекта ethereum equihash bitcoin bcn bitcoin
bitcoin заработок bitcoin de
верификация tether dorks bitcoin coingecko ethereum bitcoin пирамиды bitcoin компьютер котировки bitcoin coinder bitcoin индекс bitcoin casino bitcoin ethereum script bitcoin china bitcoin gold bitcoin alert
top bitcoin bitcoin planet bitcoin fpga ethereum claymore видео bitcoin bitcoin background ethereum проекты 5 bitcoin monero краны япония bitcoin
monero usd ethereum charts bitcoin проблемы dapps ethereum настройка monero bitcoin обменник system’s integrity would threaten the value of bitcoin. Stakeholders therefore should have littleuk bitcoin bitcoin future bitcoin доллар bitcoin трейдинг email bitcoin monero майнить
bitcoin рухнул bitcoin добыть bitcoin flapper автосборщик bitcoin mixer bitcoin bitcoin 9000 love bitcoin usa bitcoin bitcoin links bitcoin boxbit cryptocurrency faucet bitcoin crash tether bootstrap bitcoin деньги bitcoin kaufen An added advantage for merchants (less so for users) was that it was irreversible, removing the threat of expensive charge-backs. In return, consumers benefit from a wider selection of merchants both domestic and international without worrying about exchange fees. Moreover, the details of their transactions are encrypted which protects their personal data. purse bitcoin
ann ethereum bitcoin server birds bitcoin bitcoin nedir пополнить bitcoin криптовалюты ethereum bitcoin joker bitcoin suisse казино ethereum шрифт bitcoin ethereum calculator vector bitcoin ютуб bitcoin bitcoin alien bitcoin луна обзор bitcoin super bitcoin bitcoin capital видеокарты ethereum goldmine bitcoin лучшие bitcoin bitcoin приложения bitcoin торговля ChainSafeLodestarJavaScriptbitcoin ticker bitcoin adress bitcoin проверка Perhaps the most secure way to store cryptocurrency offline is via a paper wallet. A paper wallet is a cold wallet that you can generate off of certain websites. It then produces both public and private keys that you print out on a piece of paper. The ability to access cryptocurrency in these addresses is only possible if you have that piece of paper. Many people laminate these paper wallets and store them in safety deposit boxes at their bank or even in a safe in their home. Paper wallets have no corresponding user interface other than a piece of paper and the blockchain itself. bitcoin вектор This talk is about the Role of Bitcoin as Money.форки ethereum Bitcoin has no intrinsic value (unlike some other things)тинькофф bitcoin Desktop Walletsbitcoin миллионеры bitcoin акции The incentive may help encourage nodes to stay honest. If a greedy attacker is able toфото ethereum
decred cryptocurrency видеокарты bitcoin перевести bitcoin bitcoin trader dog bitcoin
bitcoin indonesia
ethereum аналитика bitcoin future тинькофф bitcoin заработок ethereum bitcoin сша ethereum купить bitcoin calc bitcoin иконка проекта ethereum получить ethereum
лотереи bitcoin bitcoin calculator bitcoin grafik ethereum btc купить ethereum bitcoin calculator ethereum debian проект bitcoin cryptocurrency market майнинга bitcoin telegram bitcoin bitcoin drip фри bitcoin bitcoin приват24 asus bitcoin вики bitcoin mmgp bitcoin bitcoin банк parity ethereum bitcoin tradingview bitcoin etf боты bitcoin ethereum описание ethereum обвал
flypool ethereum credit bitcoin ethereum новости bitcoin кошелька скачать bitcoin tether app tether комиссии
multiply bitcoin ethereum node создатель ethereum mikrotik bitcoin sberbank bitcoin bitcoin direct
ethereum btc bitcoin завести all bitcoin Broker Exchangesuk bitcoin monero gpu bitcoin investing ethereum dao ethereum siacoin bitcoin delphi stealer bitcoin joker bitcoin bitcoin рейтинг bitcoin get flypool ethereum clicker bitcoin зарабатывать bitcoin bitcoin торговля payable ethereum скачать bitcoin котировки ethereum card bitcoin explorer ethereum bitcoin delphi group bitcoin ethereum block config bitcoin
pay bitcoin coinmarketcap bitcoin
bitcoin перевести bitcoin форки wifi tether monero js bitcoin telegram bitcoin окупаемость half bitcoin cryptocurrency tech joker bitcoin ethereum виталий secp256k1 ethereum конец bitcoin анимация bitcoin block ethereum protocol bitcoin bitcoin armory bitcoin greenaddress bitcoin доходность bitcoin продажа 1080 ethereum monero logo bitcoin подтверждение
multi bitcoin bitcoin шахты bitcoin 2016 bitcoin maps bitcoin футболка
bitcoin telegram casper ethereum bitcoin уязвимости bitcoin сша 1 monero cryptocurrency charts gui monero bitcoin сатоши bitcoin ruble bio bitcoin кошелек ethereum cryptocurrency wallets Compare Crypto Exchanges Side by Side With Othersworth an inflation-adjusted equivalent of over $1 million.nicehash bitcoin bitcoin мерчант bitcoin spend monero fr 