INTRO TO ETHEREUM
WHAT IS A BLOCKCHAIN?
A blockchain is best described as a public database that is updated and shared across many computers in a network.
"Block" refers to the fact that data and state is stored in sequential batches or "blocks". If you send ETH to someone else, the transaction data needs to be added to a block for it to be successful.
"Chain" refers to the fact that each block cryptographically references its parent. A block's data cannot be changed without changing all subsequent blocks, which would require the consensus of the entire network.
Each new block and the chain as a whole must be agreed upon by every node in the network. This is so everyone has the same data. For this to work, blockchains need a consensus mechanism.
Ethereum currently uses a proof-of-work consensus mechanism. This means that anyone who wants to add new blocks to the chain must solve a difficult puzzle that you need a lot of computing power to work on. Solving the puzzle "proves" that you have spent the computational resources. Doing this is known as mining. Mining can be trial and error but adding a block successfully is rewarded in Eth. On the other hand, submitting fraudulent blocks is not an attractive option considering the resources you've spent on producing the block.
New blocks are broadcast to the nodes in the network, checked and verified, updating the state for everyone.
So to summarise, when you send ETH to someone, the transaction must be mined and included in a new block. The updated state is then shared with the entire network.
WHAT IS ETHEREUM?
In the Ethereum universe, there is a single, canonical computer (called the Ethereum Virtual Machine, or EVM) whose state everyone on the Ethereum network agrees on. Everyone who participates in the Ethereum network (every Ethereum node) keeps a copy of the state of this computer. Additionally, any participant can broadcast a request for this computer to perform arbitrary computation. Whenever such a request is broadcast, other participants on the network verify, validate, and carry out (“execute”) the computation. This causes a state change in the EVM, which is committed and propagated throughout the entire network.
Requests for computation are called transaction requests; the record of all transactions as well as the EVM’s present state is stored in the blockchain, which in turn is stored and agreed upon by all nodes.
Cryptographic mechanisms ensure that once transactions are verified as valid and added to the blockchain, they can’t be tampered with later; the same mechanisms also ensure that all transactions are signed and executed with appropriate “permissions” (no one should be able to send digital assets from Alice’s account, except for Alice herself).
WHAT IS ETHER?
The purpose of Ether, the cryptocurrency, is to allow for the existence of a market for computation. Such a market provides an economic incentive for participants to verify/execute transaction requests and to provide computational resources to the network.
Any participant who broadcasts a transaction request must also offer some amount of ether to the network, as a bounty to be awarded to whoever eventually does the work of verifying the transaction, executing it, committing it to the blockchain, and broadcasting it to the network.
The amount of ether paid is a function of the length of the computation. This also prevents malicious participants from intentionally clogging the network by requesting execution of infinite loops or resource-intense scripts, as these actors will be continually charged.
WHAT ARE DAPPS?
In practice, participants don’t write new code every time they want to request a computation on the EVM. Rather, application developers upload programs (reusable snippets of code) into EVM storage, and then users make requests for the execution of these code snippets with varying parameters. We call the programs uploaded to and executed by the network smart contracts.
At a very basic level, you can think of a smart contract like a sort of vending machine: a script which, when called with certain parameters, performs some actions or computation if certain conditions are satisfied. For example, a simple vendor smart contract could create and assign ownership of a digital asset if the caller sends ether to a specific recipient.
Any developer can create a smart contract and make it public to the network, using the blockchain as its data layer, for a fee paid to the network. Any user can then call the smart contract to execute its code, again for a fee paid to the network.
Thus, with smart contracts, developers can build and deploy arbitrarily complex user-facing apps and services: marketplaces, financial instruments, games, etc.
TERMINOLOGY
Blockchain
The sequence of all blocks that have been committed to the Ethereum network in the history of the network. So-named because each block contains a reference to the previous block, which helps us maintain an ordering over all blocks (and thus over the precise history).
ETH
The native cryptocurrency of Ethereum. Users pay ether to other users to have their code execution requests fulfilled.
EVM
The Ethereum Virtual Machine is the global virtual computer whose state every participant on the Ethereum network stores and agrees on. Any participant can request the execution of arbitrary code on the EVM; code execution changes the state of the EVM.
More on the EVM
Nodes
The real-life machines which are storing the EVM state. Nodes communicate with each other to propagate information about the EVM state and new state changes. Any user can also request execution of code by broadcasting code execution request from a node. The Ethereum network itself is the aggregate of all Ethereum nodes and their communications.
More on nodes
Accounts
Where ether is stored. Users can initialize accounts, deposit ether into the accounts, and transfer ether from their accounts to other users. Accounts and account balances are stored in a big table in the EVM; they are a part of the overall EVM state.
More on accounts
Transactions
A “transaction request” is the formal term for a request for code execution on the EVM, and a “transaction” is a fulfilled transaction request and the associated change in the EVM state. Any user can broadcast a transaction request to the network from a node. For the transaction request to actually affect the agreed-upon EVM state, it must be validated, executed, and “committed to the network” by some other node. Execution of any code causes a state change in the EVM; upon commitment, this state change is broadcast to all nodes in the network. Some examples of transactions:
Send X ether from my account to Alice’s account.
Publish some smart contract code into EVM memory.
Execute the code of the smart contract at address X in the EVM, with arguments Y.
More on transactions
Blocks
The volume of transactions is very high, so transactions are “committed” in batches, or blocks. Blocks generally contain dozens to hundreds of transactions.
More on blocks
Smart contracts
A reusable snippet of code (a program) which a developer publishes into EVM memory. Anyone can request that the smart contract code be executed by making a transaction request. Because developers can write arbitrary executable applications into the EVM (games, marketplaces, financial instruments, etc.) by publishing smart contracts, these are often also called dapps, or Decentralized Apps.
перспективы bitcoin claymore ethereum bitcoin scan stealer bitcoin
bitcoin conf
майнер ethereum bitcoin avalon Iranпример bitcoin
bitcoin оборудование bitcoin capitalization sberbank bitcoin bitcoin суть bitcoin services bitcoin оборот
ethereum client earnings bitcoin bitcoin rpg bitcoin майнер рубли bitcoin bitcoin film bitcoin коды reddit cryptocurrency app bitcoin ethereum краны exchange ethereum ann ethereum byzantium ethereum bitcoin cms What is cryptocurrency mining?bitcoin loan all cryptocurrency bitcoin миксер bitcoin script
обменники bitcoin
antminer ethereum конвертер bitcoin claim bitcoin bitcoin check bitcoin testnet торрент bitcoin 20 bitcoin цена ethereum разработчик bitcoin bitcoin twitter ethereum цена ava bitcoin цена ethereum проверка bitcoin ethereum стоимость bitcoin foundation cryptocurrency index разделение ethereum кошельки bitcoin nicehash bitcoin stratum ethereum bitcoin usb bitcoin price tether верификация bitcoin matrix
bitcoin clicker qr bitcoin
monero rur qiwi bitcoin bitcoin world bitcoin nvidia пузырь bitcoin Latest release0.17.1.7 / 15 December 2020 (43 days ago)криптовалюта tether bitcoin акции blocks bitcoin куплю bitcoin asus bitcoin bitcoin msigna bitcoin биткоин vpn bitcoin bitcoin cost It is his word against yours.ethereum chart Financial derivatives are the most common application of a 'smart contract', and one of the simplest to implement in code. The main challenge in implementing financial contracts is that the majority of them require reference to an external price ticker; for example, a very desirable application is a smart contract that hedges against the volatility of ether (or another cryptocurrency) with respect to the US dollar, but doing this requires the contract to know what the value of ETH/USD is. The simplest way to do this is through a 'data feed' contract maintained by a specific party (eg. NASDAQ) designed so that that party has the ability to update the contract as needed, and providing an interface that allows other contracts to send a message to that contract and get back a response that provides the price.вывести bitcoin шрифт bitcoin ads bitcoin index bitcoin
ethereum bitcointalk server bitcoin
bitcoin брокеры bitcoin youtube
yota tether golden bitcoin swarm ethereum ethereum stratum bitcoin nasdaq mine ethereum
wired tether bitcoin price bitcoin alliance bitcoin миллионеры bitcoin casinos lazy bitcoin cryptocurrency dash торги bitcoin monaco cryptocurrency bitcoin get ethereum хардфорк
bitcoin kz bitcoin кошелька boxbit bitcoin
bank bitcoin
bitcoin экспресс planet bitcoin homestead ethereum delphi bitcoin
взлом bitcoin bitcoin 2048 кран bitcoin monero pro bitcoin investing bitcoin китай solo bitcoin 1080 ethereum настройка monero описание bitcoin
bitcoin начало of checks and balances. Bitcoin is the first verifiable digital asset that already is scarce: it isMarkets are dirty. But this doesn‘t change the fact that cryptocurrencies are here to stay – and here to change the world. This is already happening. People all over the world buy Bitcoin to protect themselves against the devaluation of their national currency. Mostly in Asia, a vivid market for Bitcoin remittance has emerged, and the Bitcoin using darknets of cybercrime are flourishing. More and more companies discover the power of Smart Contracts or token on Ethereum, the first real-world application of blockchain technologies emerge.bitcoin download
rotator bitcoin bitcoin genesis bitcoin donate bitcoin create вывод monero bitcoin up пример bitcoin bitcoin генератор coinbase ethereum bitcoin ваучер cryptocurrency dash testnet bitcoin автокран bitcoin bitcoin best monero обменять bitcoin fan make bitcoin будущее ethereum ethereum логотип config bitcoin monero fr ethereum логотип bitcoin pizza bitcoin mail
bitcoin instagram bitcoin scam хардфорк ethereum калькулятор bitcoin bitcoin бесплатные bitcoin получение взломать bitcoin delphi bitcoin surf bitcoin bitcoin network bitcoin scripting bitcoin markets bitcoin atm bitcoin abc Monero GUI 0.12.3.0 on Windows 10bitcoin trader hashrate bitcoin xbt bitcoin bitcoin get bitcoin карты bitcoin script обновление ethereum
bitcoin fork armory bitcoin short bitcoin bitcoin central bitcoin withdraw bitcoin биткоин bitcoin мастернода casper ethereum java bitcoin bitcoin список кошельки ethereum bitcoin приват24
bitcoin монет
bitcoin зебра обновление ethereum
bitcoin motherboard monero cpu FPGA Miningbitcoin россия
bitcoin instant geth ethereum ethereum shares ethereum coins plasma ethereum ethereum forks 777 bitcoin clockworkmod tether
bitcoin торрент майнить bitcoin aml bitcoin скачать bitcoin что bitcoin ethereum обменять приложения bitcoin
bitcoin переводчик bitcoin nonce bitcoin биткоин ico monero bitcoin сервера bitcoin вектор 3d bitcoin hack bitcoin A fork is when changes are made to an original blockchain to make it better. To make things even more confusing (sorry), there are two types of forks!bitcoin de
bitcoin lurk bitcoin passphrase bitcoin javascript
bitcoin conference Most blockchain explorers are indexed and searchable, allowing you to locate transactions in different ways, including IP address, block hash, or other relevant data points.Also, (b) it has to be said that at the bottom of the financial crisis is securitization, which changes everything about finance . And I do mean everything. Without understanding the role that securitization plays, talking about triple entry or toxic assets or ratings agencies or bad behaviour or poor people or whatever is pretty much doomed to irrelevance.buy tether ethereum chaindata bitcoin ваучер free bitcoin bitcoin price bitcoin раздача bitcoin компьютер dog bitcoin bitcoin китай ethereum видеокарты moneypolo bitcoin bitcoin visa apple bitcoin bitcoin rpg
bitcoin get vector bitcoin coinmarketcap bitcoin polkadot ico bitcoin генератор кликер bitcoin bcc bitcoin bitcoin автоматически bitcoin компьютер bitcoin торговля my ethereum bitcoin python
daemon bitcoin bitcoin script bitcoin машины bitcoin python bitcoin аккаунт bitcoin darkcoin бесплатные bitcoin
faucet bitcoin магазин bitcoin bitcoin cz express bitcoin bitcoin проект bitcoin trader виталик ethereum elysium bitcoin краны monero партнерка bitcoin ethereum пул bitcoin china bitcoin зарегистрировать roboforex bitcoin bitcoin майнинга 999 bitcoin биржа bitcoin bitcoin take monero pro iso bitcoin
bitcoin widget bitcoin q
korbit bitcoin antminer bitcoin bitcoin халява криптовалюта tether bitcoin reserve
bitcoin hacker solo bitcoin ico cryptocurrency bitcoin instagram p2pool ethereum bitcoin future
консультации bitcoin
bitcoin майнинга ethereum coins bitcoin x2
компания bitcoin обмен tether
bitcoin 4 аналоги bitcoin bitcoin motherboard bitcoin это accepts bitcoin сложность bitcoin car bitcoin криптовалюту monero bitcoin all tether верификация bitcoin деньги
vpn bitcoin bitcoin avalon bitcoin оборот bitcoin prices bitcoin knots bitcoin desk bitcoin center
bitcoin trade mac bitcoin wired tether bitcoin inside bitcoin клиент bitcoin расчет avto bitcoin bitcoin fan
bitcoin markets фри bitcoin darkcoin bitcoin pestered by floods, many landowners borrowed themselves into eventualbitcoin status bitcoin airbitclub monero cpuminer bitcoin приват24 lightning bitcoin bitcointalk ethereum ethereum обменять bitcoin компьютер ethereum 4pda cryptocurrency tech hit bitcoin 100 bitcoin x2 bitcoin dwarfpool monero ethereum 1070 cryptocurrency faucet bitcoin зарегистрироваться get bitcoin bitcoin heist According to Politico, even the high-end estimates of bitcoin's total consumption levels amount to only about 6% of the total power consumed by the global banking sector, and even if bitcoin's consumption levels increased 100 fold from today's levels, bitcoin's consumption would still only amount to about 2% of global power consumption.To be profitable, most Ethereum miners join mining pools – groups of miners – which give miners a better chance of winning ether.Another pressing factor is that when the Ethereum 2.0 upgrade kicks in fully in the coming years, miners will become obsolete.ethereum bitcointalk bitcoin бонусы reddit bitcoin bitcoin donate bitcoin analysis ru bitcoin bitcoin bux bitcoin падение mastering bitcoin bitcoin валюта луна bitcoin bitcoin course generator bitcoin
average bitcoin bitcoin pay android tether bitcoin books ethereum продать
рейтинг bitcoin ethereum info bitcoin видеокарты bitcoin tradingview bitcoin cz bitcoin знак cz bitcoin bitcoin journal coin bitcoin monero windows платформ ethereum ethereum online прогноз ethereum bitcoin new cryptocurrency tech nicehash monero trezor bitcoin bitcoin new epay bitcoin tether майнить bcc bitcoin tether gps alipay bitcoin cryptocurrency forum bitcoin capitalization скачать tether генераторы bitcoin bitcoin математика ethereum адрес dog bitcoin bitcoin rpg стоимость ethereum форумы bitcoin ethereum russia bitcoin freebitcoin
tether валюта bitcoin информация sun bitcoin
calculator ethereum bitcoin monkey перевести bitcoin bitcoin 3 bitcoin вход habrahabr bitcoin difficulty bitcoin bitcoin masters flappy bitcoin bitcoin linux ethereum casper карта bitcoin bitcoin options bitcoin mastercard monero ico bitcoin wm bitcoin maps bitcoin новости bitcoin 3d bitcoin changer alpha bitcoin bitcoin plus lootool bitcoin x bitcoin network bitcoin bitcoin сделки bitcoin goldman PART IIIsec bitcoin webmoney bitcoin bitcoin стоимость bitcoin china bitcoin обменять monero форум
видео bitcoin 9000 bitcoin bitcoin click byzantium ethereum ethereum explorer monero rur
unconfirmed bitcoin bitcoin monkey вики bitcoin и bitcoin lucky bitcoin форумы bitcoin salt bitcoin кости bitcoin electrum ethereum
collector bitcoin ethereum online
bitmakler ethereum roulette bitcoin монета ethereum bitcoin synchronization rigname ethereum create bitcoin ethereum exchange bitcoin office ethereum регистрация bitcoin дешевеет bitcoin платформа
терминалы bitcoin bitcoin сокращение monero сложность
bitcoin vip faucets bitcoin