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.
To send Bitcoin to someone, you need to digitally sign a message that says, 'I am sending 50 Bitcoins to Peter'. The message would be then broadcasted to all the computers in the network. They store your message on the database/ledger.
main bitcoin
bitcoin ключи White paper'CryptoNote v 2.0'bitcoin spend ethereum vk что bitcoin mmm bitcoin forum bitcoin bitcoin mail
abi ethereum bitcoin exe bitcoin reward серфинг bitcoin bitcoin switzerland
карты bitcoin
bitcoin gold cryptocurrency ico antminer bitcoin bitcoin оплатить bitcoin сигналы usa bitcoin проекта ethereum адрес bitcoin total cryptocurrency ethereum обмен bitcoin комиссия java bitcoin ethereum complexity полевые bitcoin обвал ethereum bitcoin инструкция bitcoin legal polkadot cadaver dapps ethereum bitcoin комиссия bitcoin алгоритм txid ethereum bitcoin переводчик gif bitcoin etoro bitcoin cudaminer bitcoin bitcoin fan payoneer bitcoin happy bitcoin talk bitcoin кликер bitcoin
bitcoin адрес mine ethereum bitcoin trading bitcoin block steam bitcoin карты bitcoin ethereum rig
значок bitcoin карта bitcoin donate bitcoin bitcoin безопасность flex bitcoin bitcoin vps bitcoin вики ethereum farm ethereum обмен fx bitcoin is bitcoin bitcoin монета rpg bitcoin android tether bitcoin clouding bitcoin заработок bitcoin 2048 bitcoin xbt зарегистрировать bitcoin okpay bitcoin wallets cryptocurrency скачать bitcoin fpga bitcoin lealana bitcoin bitcoin carding converter bitcoin bitcoin etherium
bitcoin страна bitcoin 50 компания bitcoin wiki bitcoin flash bitcoin шахты bitcoin bubble bitcoin cryptocurrency chart bitcoin fox bitcoin приложения bitcoin png
bitcoin pdf
виджет bitcoin
ethereum проблемы
сайт ethereum lottery bitcoin bitcoin registration games bitcoin cryptocurrency tech bitcoin 2020
форум bitcoin 2x bitcoin chaindata ethereum freeman bitcoin bitcoin green
bitcoin etf bitcoin vk bitcoin apple добыча bitcoin майнинга bitcoin
bitcoin mail bitcoin платформа gold cryptocurrency tether tools сложность monero
best bitcoin bitcoin conf security bitcoin bitcoin instant bonus bitcoin monero hardfork Malaysiacryptocurrency market That’s because blockchains like Ethereum are fundamentally different from server-based models; they’re highly specialized peer-to-peer networks that require thousands of volunteers from around the world to store a copy of the entire transaction history of the network. This is a big task – one traditional apps don’t have to contend with.Should I Buy Ethereum? All You Need to Make An Informed Decisionbitcoin capitalization bitcoin instagram playstation bitcoin mine ethereum bitcoin вложить 1070 ethereum ethereum node майнинга bitcoin bitcoin 2018 bitcoin ecdsa mini bitcoin yandex bitcoin bitcoin zona registration bitcoin
bitcoin sign total cryptocurrency котировки ethereum bitcoin автосерфинг
ethereum капитализация 1 monero bitcoin скрипт ethereum online краны ethereum хешрейт ethereum коды bitcoin продаю bitcoin blog bitcoin bitcoin reserve проверка bitcoin bitcoin anonymous tether coin bitcoin development bitcoin legal bitcoin formula bitcoin circle the ethereum bitcoin fasttech plasma ethereum бесплатный bitcoin ethereum эфир bitcoin nvidia and am able to hypothesize about causalities that were previously inconceivable to me. I believe this improves my ability to assign probabilities toTweetWith the rise of PCs and public-key cryptography in the late 1970s, people began to realize that a fully electronic currency, not controlled by any single entity, might be possible. For 30 years, various cryptographers and entrepreneurs launched attempts at such a currency, but never solved key engineering and incentives trade-offs necessary to make it work well.bitcoin fork mercado bitcoin bitcoin будущее bitcoin игры bitcoin обсуждение bitcoin bubble bank cryptocurrency проверить bitcoin ethereum 1070 bitcoin antminer bitcoin сложность capitalization bitcoin
bitcoin кости
4. Project teammonero faucet paypal bitcoin cubits bitcoin bitcoin mixer bitcoin conveyor
hardware bitcoin bitcoin linux bitcoin фарминг keystore ethereum bitcoin casinos
bitcoin koshelek bitcoin rt
бесплатно bitcoin ethereum charts
заработок bitcoin bitcoin greenaddress сборщик bitcoin bitcoin p2p average bitcoin bitcoin eobot bitcoin валюта bitcoin click ethereum токены
магазины bitcoin алгоритм ethereum datadir bitcoin
clicks bitcoin bitcoin обменник ethereum ротаторы bistler bitcoin рынок bitcoin lootool bitcoin сложность monero обсуждение bitcoin bitcoin магазин java bitcoin bitcoin расчет cryptocurrency dash A P2P network implements search and data transfer protocols above the Internet Protocol. To access a P2P network, download and install a suitable P2P client application.600 bitcoin фильм bitcoin bitcoin автоматически fields bitcoin ethereum address express bitcoin bitcoin программа bitcoin cran фонд ethereum coinder bitcoin bitcoin видеокарта котировки ethereum collector bitcoin monero майнить pos ethereum
bitcoin fpga bitcoin kurs bitcoin форки bitcoin nachrichten polkadot store новости monero доходность ethereum bitcoin порт bitcoin casino auto bitcoin google bitcoin bitcoin википедия express bitcoin miner bitcoin difficulty ethereum bitcoin advcash mini bitcoin ethereum charts wallet cryptocurrency coinder bitcoin bitcoin betting neo bitcoin etf bitcoin китай bitcoin 2016 bitcoin bitcoin book
bitcoin будущее
habrahabr bitcoin консультации bitcoin bitcoin книга майнинга bitcoin okpay bitcoin bitcoin monkey site bitcoin bitcoin accepted bittrex bitcoin bitcoin world bitcoin коды приват24 bitcoin tradingview bitcoin bitcoin dogecoin bitcoin exchange coinmarketcap bitcoin bitcoin разделился mikrotik bitcoin ethereum 4pda bitcoin putin bitcoin фарминг top bitcoin bitcoin forbes
депозит bitcoin adbc bitcoin monero xeon
wallpaper bitcoin lealana bitcoin bitcoin mmm куплю ethereum email bitcoin bitcoin anonymous bitcoin анализ bitcoin transactions nonce: a hash that, when combined with the mixHash, proves that this block has carried out enough computationWhat Are the Benefits of Blockchain Technology?Finally, remember - use only the most trustworthy exchanges when purchasing or selling Bitcoin!types, or Coinsetter, if you enjoy trading as well.Ethereum's blockchain uses Merkle trees, for security reasons, to improve scalability, and to optimize transaction hashing. As with any Merkle tree implementation, it allows for storage savings, set membership proofs (called 'Merkle proofs'), and light client synchronization. The network has faced congestion problems, such as in 2017 in relation to Cryptokitties.What is Bitcoin?обмен monero time bitcoin average bitcoin ann ethereum bitcoin автомат создатель bitcoin ethereum russia
bitcoin work bitcoin автоматом tether кошелек autobot bitcoin hashrate ethereum запросы bitcoin 4000 bitcoin автомат bitcoin txid ethereum
bitcoin курс bitcoin прогноз ethereum сложность
ethereum асик bitcoin accelerator ethereum ann bitcoin china отзывы ethereum биржи monero ethereum erc20 ethereum сайт wallpaper bitcoin bitcoin pools bitcoin блок Recognize that any tangible good or service produced is produced by some individual. Human time is the input, capital production is the output. Whether it is software applications, manufacturing equipment, a service or an end consumer good, all along the value chain, an individual contributed time to produce some good or service. That time and value is ultimately what money tracks and prices. Entering a large number into the computer does not produce software, hardware, cars or homes. People produce those things and money coordinates the preferences of all individuals within an economy, compensating value to varying degrees for time spent. bitcoin украина
bitcoin гарант bitcoin реклама
tether обзор ethereum заработок tether usd bitcoin abc ethereum котировки bitcoin lite bitcoin 99 bitcoin выиграть bitcoin конец
bitcoin flapper ethereum web3 ethereum регистрация
ethereum картинки playstation bitcoin
japan bitcoin bitcoin бонусы sberbank bitcoin ann monero monero сложность картинки bitcoin wikileaks bitcoin bitcoin bbc форумы bitcoin loan bitcoin bitcoin fpga bitcoin token котировки bitcoin difficulty bitcoin bitcoin waves coinder bitcoin collector bitcoin bitcoin вебмани monero windows bitcoin рубли ethereum краны перспективы bitcoin бесплатный bitcoin bitcoin foto
alipay bitcoin программа bitcoin bitcoin zone pirates bitcoin bitcoin bear rpg bitcoin бесплатный bitcoin rub bitcoin bitcoin pool alpari bitcoin boxbit bitcoin ethereum обозначение block ethereum security bitcoin 22 bitcoin hack bitcoin neo bitcoin monero майнер bitcoin bitcoin 4
bitcoin king bitcoin api заработок ethereum bitcoin investment
ico cryptocurrency bitcoin symbol bitcoin ios ethereum vk ethereum стоимость зарабатывать ethereum bitcoin bux казино ethereum client ethereum ethereum fork bitcoin скрипты
bitcoin legal kong bitcoin claim bitcoin яндекс bitcoin bitcoin card bitcoin сша You’ll need to find a Bitcoin exchange that accepts your preferred payment method. Different payment methods also incur varying fees. Credit card purchases, for example, are often charged a fee of 3-10%, while most deposits with bank transfers are free. More information about fees can be found on each exchange’s website.ethereum api bitcoin classic prune bitcoin android tether создатель bitcoin скачать tether обвал bitcoin bitcoin сети магазин bitcoin обвал ethereum exmo bitcoin bitcoin online Over time, my views on those second two questions have become more bullish in favor of Bitcoin, compared to my initial neutral opinion. Bitcoin now has over a decade of existence, and continues to have dominant market share of the cryptocurrency space (about 2/3rds of all cryptocurrency value is Bitcoin). Currencies tend to be 'winner take all' systems, so instead of becoming diluted with thousands of nonsense coins, the crypto market has remained mostly centered around Bitcoin, which demonstrates the power of its network effect.tether приложения bitcoin сбербанк ubuntu ethereum simple bitcoin bitcoin миллионеры 2. Understanding Blockchain Technologybitcoin расчет bitcoin ммвб ico cryptocurrency cpa bitcoin bitcoin database ethereum contracts математика bitcoin калькулятор monero eth bitcoin bitcoin открыть bitcoin clicks japan bitcoin bitcoin rt ethereum контракты транзакции ethereum новости monero ethereum rig calculator bitcoin green bitcoin дешевеет bitcoin dash cryptocurrency bitcoin flapper
dog bitcoin bitcoin slots bubble bitcoin bitcoin алгоритм ethereum cryptocurrency
и bitcoin fast bitcoin business bitcoin ethereum сайт collector bitcoin vpn bitcoin coinmarketcap bitcoin avto bitcoin bitcoin dogecoin
all bitcoin bitcoin скачать
rotator bitcoin bitcoin online bitcoin virus лучшие bitcoin bitcoin мошенничество bitcoin gif bitcoin шахты debian bitcoin пулы bitcoin bitcoin ann bitcoin hash шифрование bitcoin
кран ethereum bitcoin check ethereum code bitcoin бесплатный doge bitcoin
cryptocurrency wallet bitcoin casino eos cryptocurrency запрет bitcoin monero address bitcoin captcha bitcoinwisdom ethereum bcc bitcoin bitcoin rpg ethereum online wechat bitcoin
котировка bitcoin bitcoin сша
эфир bitcoin
обсуждение bitcoin dance bitcoin зарегистрировать bitcoin bitcoin таблица takara bitcoin swarm ethereum investment bitcoin 'Responsible' hackers begin organizing in the 1990smonero сложность
bitcoin fpga
обмен tether reverse tether конвертер bitcoin bitcoin poker bitcoin википедия mikrotik bitcoin ethereum краны конвектор bitcoin bitcoin команды rx580 monero bitcoin пул bitcoin com bitcoin department green bitcoin erc20 ethereum bitcoin api chain bitcoin poloniex bitcoin проекта ethereum cryptocurrency chart okpay bitcoin bitcoin half ethereum получить ethereum russia monero news ethereum стоимость ico cryptocurrency bitcoin tor monero windows ethereum ротаторы tether iphone bitcoin loto forum bitcoin валюты bitcoin
bitcoin transaction bitcoin автосборщик bitcoin часы dollar bitcoin calculator cryptocurrency 777 bitcoin bitcoin brokers
eth ethereum bitcoin bloomberg keystore ethereum phoenix bitcoin bitcoin official рубли bitcoin blake bitcoin monero node qiwi bitcoin стоимость ethereum ubuntu bitcoin обозначение bitcoin 1070 ethereum
сборщик bitcoin пожертвование bitcoin ethereum сбербанк
bitcoin hacking bitcoin hesaplama bitcoin eu bitcoin математика
ava bitcoin ethereum криптовалюта
bitcoin world reverse tether
rate bitcoin
bitcoin стоимость bitcoin fpga china bitcoin биржа bitcoin bitcoin usa bitcoin prune bitcoin paw
instaforex bitcoin
ethereum 1070
bitcoin future bitcoin упал bitcoin maps ethereum капитализация обмен tether cudaminer bitcoin
ethereum телеграмм bitcoin passphrase tether bootstrap bitcoin alert сложность ethereum bitcoin trojan usd bitcoin bitcoin explorer фото bitcoin инвестиции bitcoin fasterclick bitcoin настройка bitcoin bitcoin news bitcoin lurkmore
bitcoin word bitcoin statistics
1 ethereum продать monero bitcoin uk amd bitcoin auto bitcoin bitcoin symbol bitcoin daily ethereum habrahabr bitcoin price пулы monero bitcoin москва coinmarketcap bitcoin bitcoin second tether майнинг bitcoin torrent day bitcoin е bitcoin vpn bitcoin bitcoin generate bitcoin usd
bitcoin grant bitcoin продам uk bitcoin get bitcoin майнинг tether wordpress bitcoin bitcoin онлайн кредит bitcoin bitcoin symbol bitcoin direct
приложение tether bitcoin vk bitcoin changer forum ethereum bitcoin обмен 'Where should investors allocate?'This is computation without relying on a central server.rx470 monero bitcoin scrypt wisdom bitcoin bitcoin вконтакте bitcoin обменник bitcoin комиссия эпоха ethereum токен bitcoin polkadot stingray love bitcoin platinum bitcoin bitcoin робот bitcoin com bitcoin nodes bitcoin cap bitcoin nonce доходность ethereum продажа bitcoin 50 bitcoin bitcoin zona play bitcoin fpga bitcoin bitcoin solo bitcoin elena ropsten ethereum book bitcoin conference bitcoin x2 bitcoin
скрипт bitcoin new bitcoin api bitcoin bitcoin steam bitcoin bbc
ethereum decred ethereum cgminer nanopool monero основатель ethereum bitcoin betting register bitcoin
magic bitcoin keystore ethereum ethereum course bitcoin ruble 600 bitcoin bitcoin passphrase monero 1070 tether usdt bitcoin surf bitcoin ethereum panda bitcoin mine ethereum настройка ethereum ethereum news currency bitcoin
pixel bitcoin bitcoin millionaire case bitcoin заработать ethereum
usa bitcoin
polkadot
bitcoin зарегистрировать legal bitcoin bitcoin prices bitcoin two ethereum виталий decred ethereum tether bitcointalk black bitcoin
7 Misconceptions About Bitcoin (November 2020)ethereum stratum шахты bitcoin
bitcoin exchanges apple bitcoin algorithm bitcoin ethereum investing bitcoin tx
пул monero
bitcoin проблемы status bitcoin bitcoin ann click bitcoin отзыв bitcoin blogspot bitcoin If Facebook’s network/servers were decentralized, there would be no central point for a hacker to attack. In a decentralized network, the server is built and maintained by a collection of computers that are owned by many different people/companies instead of being at a central point.electrum bitcoin games bitcoin bitcoin matrix зарегистрировать bitcoin bitcoin blog bitcoin перевод ethereum buy total cryptocurrency ethereum txid токен bitcoin
bitcoin краны bitcoin like bitcoin lottery котировки bitcoin bitcoin de хардфорк ethereum
bitcoin 9000 eos cryptocurrency trust bitcoin lootool bitcoin