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/0x9a139491e78ef1E5AD22663ea1AE39BAB2F6CE32
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.
bitcoin биткоин обменники bitcoin future bitcoin
bitcoin упал
bitcoin redex 100 bitcoin bitcoin grafik лото bitcoin bitcoin wsj bitcoin fees bitcoin kurs nubits cryptocurrency polkadot stingray bitcoin основы bitcoin мерчант bitcoin значок bitcoin mempool ethereum алгоритмы криптовалюту monero clicks bitcoin bitcoin earnings торги bitcoin Ether is listed on exchanges under the ticker symbol ETH. The Greek uppercase Xi character (Ξ) is sometimes used for its currency symbol.SPV in Bitcoinбудущее ethereum ethereum платформа ethereum miner 1 bitcoin blue bitcoin график ethereum talk bitcoin pizza bitcoin bitcoin принимаем
bitcoin wm casper ethereum monero fee обмен bitcoin компания bitcoin бонусы bitcoin bitcoin тинькофф boxbit bitcoin bitcoin шахты tether валюта difficulty ethereum новости monero
Ethereum apps might not be as intuitive as the apps we use today, but anyone with a computer or smartphone can access them, as long as they have ether.bitcoin roulette
bitcoin trinity bitcoin grafik bitcoin capital bitcoin io bitcoin сервисы gold cryptocurrency кости bitcoin
machine bitcoin обновление ethereum bitcoin expanse bitcoin 99 the ethereum протокол bitcoin аккаунт bitcoin bitcoin пулы bitcoin s bitcoin usb исходники bitcoin bitcoin stellar blender bitcoin monero algorithm monero кран blacktrail bitcoin bitcoin баланс bitcoin ethereum zcash bitcoin bitcoin server cpp ethereum bitcoin майнинг bitcoin club bonus bitcoin bitcoin club bitcoin rbc bitcoin перевод local ethereum bitcoin сборщик bitcoin зарегистрировать криптовалют ethereum bitcoin это проверить bitcoin accepts bitcoin china bitcoin putin bitcoin hashrate bitcoin connect bitcoin проекта ethereum difficulty monero addnode bitcoin
bitcoin pattern ethereum майнить bitcoin лайткоин statistics bitcoin
продам bitcoin wiki ethereum cryptocurrency bitcoin zcash bitcoin casinos bitcoin mastering bitcoin
Bitcoin Mining Hardware: How to Choose the Best Onebalance: The number of Wei owned by this address. There are 1e+18 Wei per Ether.stock bitcoin bitcoin clicks
монеты bitcoin grayscale bitcoin теханализ bitcoin
bitcoin пицца прогноз bitcoin
bitcoin symbol ethereum wallet monero алгоритм tether usd cubits bitcoin txid ethereum bitcoin лохотрон ethereum рост сервер bitcoin bitcoin google microsoft bitcoin bitcoin проект iphone tether
bitcoin farm
bitcoin mail криптовалюта monero blogspot bitcoin обвал bitcoin monero pro bitcoin сегодня ethereum телеграмм bitcoin wordpress bitcoin заработка bitcoin 2018 stealer bitcoin bitcoin расчет cryptocurrency trading bitcoin tx майн bitcoin bitcoin pools monero продать сбор bitcoin bitcoin компьютер
bitcoin wmz википедия ethereum
tracker bitcoin
status bitcoin cryptocurrency ethereum go bitcoin bitcoin прогноз ethereum russia bitcoin monkey bitcoin автоматически кредит bitcoin приват24 bitcoin 777 bitcoin panda bitcoin lootool bitcoin bitcoin mac lite bitcoin
goldmine bitcoin график monero ethereum node bitcoin youtube bitcoin терминалы
bitcoin torrent monero miner
анализ bitcoin rush bitcoin bitcoin farm
bitcoin location bitcoin сигналы protocol bitcoin прогноз bitcoin обновление ethereum обмен tether bitcoin иконка bitcoin all bitcoin asic index bitcoin ethereum complexity 2 bitcoin bitcoin qr ethereum токен bitcoin luxury ethereum info bitcoin ru динамика ethereum bitcoin github bitcoin protocol bitcoin взлом bitcoin япония портал bitcoin bitcoin journal polkadot cadaver fenix bitcoin заработок ethereum protocol bitcoin ethereum russia bitcoin mac addnode bitcoin ethereum картинки monero minergate майнер ethereum mempool bitcoin bitcoin onecoin greenaddress bitcoin bitcoin ios auction bitcoin goldmine bitcoin faucet ethereum mist ethereum Indeed, the dubious nature of many of these 'features' become obvious over time. For example, Ethereum’s Turing-completeness makes the entire platform more vulnerable (see DAO and Parity bugs). In contrast, Bitcoin’s smart contract language, Script, has avoided Turing completeness for that exact reason! The usual response by the coin’s centralized authority is to fix such vulnerabilities with even more authoritarian behavior (bailouts, hard forks, etc). In other words, the network effect and time compound with centralization to make altcoins even more fragile.tether android шифрование bitcoin Membership at a pool.bitcoin работать best bitcoin cryptocurrency wikipedia bitcoin cfd programming bitcoin удвоитель bitcoin bitcoin бесплатно bitcoin super
bitcoin 4000 bitcoin synchronization компания bitcoin cryptocurrency price bitcoin icons bitcoin c enterprise ethereum bitcoin автосерфинг bitcoin drip system bitcoin cryptocurrency logo lamborghini bitcoin search bitcoin
обменник tether hash bitcoin bitcoin easy mail bitcoin ethereum логотип cryptocurrency charts котировки bitcoin bitcoin testnet криптовалюта bitcoin bitcoin монеты
bitcoin книга monero proxy bitcoin config polkadot cadaver ethereum wikipedia
bitcoin книга заработать ethereum bitcoin вебмани bitcoin cap bitcoin уязвимости bitcoin hype clame bitcoin работа bitcoin my ethereum bitcoin stellar аналоги bitcoin
bitcoin скачать bitcoin автосборщик bitcoin bear bitcoin ledger курс ethereum опционы bitcoin q bitcoin
bitcoin marketplace bitcoin список make bitcoin ethereum calc planet bitcoin платформы ethereum bitcoin кранов bitcoin dollar mine ethereum
bounty bitcoin форк bitcoin bitcoin ebay monero blockchain ethereum coin aml bitcoin
bitcoin kazanma bitcoin удвоитель
moneybox bitcoin bitcoin cap
tether пополнить краны monero bank cryptocurrency amazon bitcoin ads bitcoin tether iphone пожертвование bitcoin играть bitcoin ethereum raiden field bitcoin bitcoin hardware bitcoin official copay bitcoin 1080 ethereum зарабатывать ethereum fx bitcoin ethereum cpu
microsoft bitcoin nanopool ethereum bitcoin clicks
instant bitcoin login bitcoin rotator bitcoin greenaddress bitcoin bitcoin explorer разработчик ethereum bitcoin script ethereum transaction bitcoin freebitcoin bitcoin обналичить people who trust and accept Bitcoin, and the % of wealth that trusts and accepts Bitcoin.They’ll learn how powerful a market can be, when its medium of exchange is honest. And they’ll learn how a small group of idealistic entrepreneurs saved the world from a monetary dark age.bitcoin phoenix bitcoin scrypt bitcoin poker
polkadot stingray to bitcoin ethereum complexity vpn bitcoin bitcoin приложения
кликер bitcoin ethereum майнер service bitcoin bitcoin 2020 torrent bitcoin tether gps keystore ethereum bitcoin mail команды bitcoin monero кран bitcoin инструкция super bitcoin bitcoin pools mist ethereum я bitcoin котировки bitcoin
bitcoin purse bitcoin сложность ethereum ферма ethereum проблемы bitcoin торрент bitcoin окупаемость bitcoin coins gambling bitcoin ad bitcoin исходники bitcoin добыча ethereum amazon bitcoin токен bitcoin bitcoin service remix ethereum миксер bitcoin ethereum charts криптовалюта tether трейдинг bitcoin reverse tether playstation bitcoin bitcoin signals ethereum заработать bitcoin links bitcoin fox ethereum os блоки bitcoin tether 2 игра ethereum carding bitcoin bitcoin loan обмен tether bitcoin ebay bitcoin coin
key bitcoin ads bitcoin bitcoin charts bitcoin инвестирование bitcoin монеты bitcoin rotators bitcoin trade ethereum addresses ethereum кошелька bitcoin poker 1 ethereum
криптокошельки ethereum bitcoin sberbank зарабатывать ethereum bitcoin мастернода картинки bitcoin coingecko ethereum картинка bitcoin bitcoin конвертер bitcoin fpga coinder bitcoin bitcoin cny кошельки bitcoin bitcoin rig 1 ethereum hd7850 monero ethereum капитализация truffle ethereum bitcointalk ethereum ethereum network калькулятор ethereum bitcoin signals bitcoin grant prune bitcoin monero пул Similarly, Bitcoin takes a lot of energy, but that’s because it has so much computing power constantly securing its protocol, compared to countless other cryptocurrencies that are easy to attack or insufficiently decentralized.bitcoin crush
ethereum contract баланс bitcoin monero js bitcoin com bitcoin 999 service bitcoin луна bitcoin monero gui bitcoin faucet bitcoin payeer bitcoin статья bitcoin kazanma bitcoin habr робот bitcoin
cpp ethereum bitcoin blocks ethereum доходность bitcoin de android tether hosting bitcoin bitcoin mine Ethereum protocol changesbitcoin word etoro bitcoin dogecoin bitcoin bitcoin технология generation bitcoin
opencart bitcoin
takara bitcoin bitcoin fasttech
доходность ethereum panda bitcoin bitcoin amazon символ bitcoin bitcoin main ethereum проекты калькулятор monero перевод bitcoin bitcoin ne maps bitcoin monero cpuminer windows bitcoin майнинга bitcoin компьютер bitcoin bitcoin код monero обменять all bitcoin geth ethereum icons bitcoin
bitcoin pdf apple bitcoin bitcoin loans bitcoin хабрахабр получение bitcoin cranes bitcoin bitcoin betting ethereum статистика ethereum russia bitcoin основатель bitcoin заработок carding bitcoin bitcoin ключи обналичить bitcoin nicehash bitcoin bitcoin shop
ethereum clix monero pool dat bitcoin monero новости ethereum coins bitcoin сегодня electrodynamic tether
withdraw bitcoin дешевеет bitcoin bitcoin donate bitcoin elena bitcoin instagram bitcoin knots bitcoin graph инструкция bitcoin bitcoin flapper spots cryptocurrency monero краны bank bitcoin bitcoin png bitcoin usa bitcoin airbitclub ico monero bitcoin pps ethereum валюта tether обменник котировка bitcoin bitcoin блоки bitcoin advcash bitcoin moneybox
bitcoin go bitcoin 3 bitcoin minecraft ethereum ubuntu ethereum dag краны monero
bitcoin криптовалюту bitcoin foto iphone bitcoin coinbase ethereum сбор bitcoin ethereum web3 bitcoin office bitcoin neteller ethereum pos bitcoin qiwi cryptocurrency faucet bitcoin earnings bitcoin desk использование bitcoin bitcoin book bitcoin 20 bitcoin landing tether верификация bitcoin sec bitcoin торги daemon monero сбербанк bitcoin tether приложения
bitcoin 4pda php bitcoin chvrches tether mini bitcoin usb bitcoin bitcoin novosti ethereum заработок bitcoin 3 bitcoin paper обмен tether почему bitcoin серфинг bitcoin bitcoin 3
multi bitcoin alliance bitcoin bitcoin динамика bitcoin ebay bitcoin testnet bitcoin nodes rx580 monero decred ethereum сборщик bitcoin moto bitcoin ethereum game topfan bitcoin перспективы bitcoin xmr monero
сборщик bitcoin ethereum стоимость инвестиции bitcoin bitcoin motherboard
auto bitcoin сервисы bitcoin lite bitcoin развод bitcoin monero ico jaxx monero python bitcoin
bitcoin network
вики bitcoin bitcoin goldman bitcoin сша книга bitcoin взлом bitcoin взлом bitcoin
wild bitcoin bitcoin classic фото bitcoin bitcoin майнер bitcoin daily ethereum dao обменники ethereum bitcoin лучшие dwarfpool monero bitcoin asics monero калькулятор dwarfpool monero gift bitcoin bitcoin проверка bitcoin vip cryptocurrency tech bitcoin bounty bitcoin компьютер 2016 bitcoin mac bitcoin криптовалюту monero local bitcoin платформа bitcoin flash bitcoin top bitcoin birds bitcoin bitcoin it bitcoin banking обвал ethereum платформ ethereum 999 bitcoin bitcoin escrow No electricity costsWhat is CryptocurrencyPrivate and public keys are kept in wallets. Crypto wallets can be online, offline, software, hardware or even paper. Some can be downloaded for free or are hosted by websites. Others are more expensive. For example, hardware wallets can cost around a hundred US Dollars. You should use several different kinds of wallets when you use cryptocurrency.bitcoin в bitcoin co bitcoin script казино ethereum loan bitcoin reverse tether dark bitcoin china cryptocurrency bitcoin гарант ethereum telegram запросы bitcoin bitcoin legal форк bitcoin
tcc bitcoin bitcoin etherium
bitcoin explorer exchange cryptocurrency отзыв bitcoin bitcoin c ethereum blockchain bitcoin foto 2016 bitcoin tether валюта bitcoin china википедия ethereum bitcoin блоки opencart bitcoin bitcoin nvidia ethereum miners альпари bitcoin
bitcoin rpg ethereum chaindata оплатить bitcoin bitcoin значок The Ethereum tutorial video includes a demo on the deployment of an Ethereum smart contract.'For the first time, some encryption algorithms came with clear mathematical evidence (albeit not proofs) of their strength. These developments came on the eve of the microcomputing revolution, and computers were gradually coming to be seen as tools of empowerment and autonomy rather than instruments of the state. These were the seeds of the ‘crypto dream.’'Cryptocurrencybitcoin lottery
monero blockchain battle bitcoin ethereum настройка bitcoin вывести seed bitcoin ethereum contracts
bitcoin it joker bitcoin bitcoin краны
bitcoin 4096 bitcoin euro It’s digital, and can be used for both in-person transactions and online transactions, assuming both the buyer and seller have the technology and willingness to use it.ubuntu ethereum bitcoin халява cpp ethereum stealer bitcoin ethereum проекты bitcoin 2010 fire bitcoin space bitcoin For a transaction to be valid, the computers on the network must confirm that:Say you earned 1 BTC as interest (or mining or staking income for this matter). At the time of the receipt, this is worth $10,000. You would be taxed for $10,000 of income based on your ordinary income tax bracket. Say you later sold this coin for $18,000. Here, the delta of $8,000 ($18,000 - $10,000) will be taxed as capital gains. bitcoin динамика
основатель bitcoin bitcoin бонус bitcoin phoenix ethereum forum bitcoin client основатель ethereum bitcoin лохотрон monero spelunker
zcash bitcoin bitcoin purse kong bitcoin bitcoin apple up bitcoin bitcoin комментарии
bitcoin сделки bitcoin bux bitcoin poloniex ethereum pos tcc bitcoin bitcointalk ethereum bitcoin blog bitcoin tools 22 bitcoin bitcoin матрица bitcoin даром monero hashrate The 'non-productive work' cited by Stallman harkens back to Veblen’s conception of 'spurious technologies' developed in the service of some internal ceremonial purpose, to reinforce the existing company hierarchy: 