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.
blacktrail bitcoin bitcoin это putin bitcoin reverse tether bitcoin zona wallpaper bitcoin bitcoin habr bitcoin bcc bitcoin таблица майнинг monero кран bitcoin factory bitcoin average bitcoin bitcoin страна bitcoin cost краны ethereum bitcoin passphrase bitcoin novosti demo bitcoin monero кран bitcoin казино keys bitcoin автомат bitcoin pokerstars bitcoin bitcoin graph
create bitcoin
monero майнить bitcoin knots ethereum cgminer bitcoin ann nvidia bitcoin bitcoin blue monero обменник cryptocurrency analytics waves cryptocurrency tether валюта
bitcoin fake adbc bitcoin bitcoin wordpress
blake bitcoin
trinity bitcoin ethereum node ru bitcoin coin ethereum
bitcoin indonesia форк bitcoin bitcoin landing reddit cryptocurrency bitcoin создатель обменники bitcoin casinos bitcoin froggy bitcoin monero amd
ethereum 2017 bitcoin p2p doge bitcoin bitcoin land blender bitcoin bitcoin инвестиции форки bitcoin car bitcoin bitcoin exe bitcoin суть
trade cryptocurrency
matteo monero bitcoin coingecko cpuminer monero bitcoin матрица market bitcoin bitcoin expanse краны ethereum cryptocurrency market портал bitcoin bio bitcoin bitcoin dance equihash bitcoin bitcoin вирус bitcoin instant bitcoin реклама майнинг bitcoin bitcoin spinner bear bitcoin bitcoin игры bitcoin bloomberg криптовалюты bitcoin bitcoin hesaplama bitcoin atm фьючерсы bitcoin accepts bitcoin bitcoin reddit ферма ethereum
bitcoin word форки ethereum ethereum addresses bitcoin кошелек bitcoin dance покер bitcoin bitcoin valet blogspot bitcoin
подтверждение bitcoin 22 bitcoin ethereum эфир bitcoin матрица ico cryptocurrency alien bitcoin bitcoin порт bitcoin knots bitcoin paw kinolix bitcoin red bitcoin jpmorgan bitcoin bitcoin hesaplama bitcoin greenaddress что bitcoin ethereum swarm ethereum fork mining ethereum bitcoin explorer цена ethereum bitcoin review ethereum contract water bitcoin bitcoin обсуждение
game bitcoin
bitcoin machines bitcoin wordpress sberbank bitcoin
bitcoin analysis avalon bitcoin bitcoin facebook bitcoin course банк bitcoin перспективы bitcoin masternode bitcoin cgminer monero bitcoin satoshi ethereum заработать cryptocurrency dash bitcoin daily
windows bitcoin bitcoin bbc мастернода bitcoin bitcoin metal all bitcoin bitcoin motherboard
bitcoin fortune crococoin bitcoin short bitcoin bitcoin 2x gadget bitcoin
bitcoin бонусы code bitcoin What is SegWit and How it Works Explainedavto bitcoin bitcoin map отзыв bitcoin
bitcoin nvidia alliance bitcoin casino bitcoin bitcoin etherium boom bitcoin bitcoin sportsbook купить bitcoin bitcoin курс pool bitcoin masternode bitcoin airbit bitcoin reddit cryptocurrency goldsday bitcoin stock bitcoin
настройка monero bitcoin faucet neo cryptocurrency
ethereum debian bitcoin maining
monero криптовалюта ethereum wallet yandex bitcoin rpg bitcoin 2048 bitcoin bitcoin автоматический Choosing mining hardwareброкеры bitcoin bitcoin pay ethereum complexity ethereum info bitcoin minergate bitcoin forums bitcoin shops bitcoin сервера ethereum calculator cryptocurrency forum ethereum проблемы
bitcoin easy bitcoin casascius иконка bitcoin bitcoin сети earning bitcoin bitcoin like bitcoin курс In February 2015, the number of merchants accepting bitcoin exceeded 100,000.#13 Data managementbitcoin иконка bitcoin mining ethereum russia earn bitcoin
криптовалюту monero bitcoin apple bitcoin иконка ethereum видеокарты tether программа avalon bitcoin wifi tether daemon monero
bitcoin market monero краны е bitcoin raiden ethereum bitcoin sberbank
british bitcoin nodes bitcoin bitcoin ваучер bitcoin parser bitcoin traffic bitcoin блокчейн ютуб bitcoin ethereum crane blitz bitcoin tether wallet exchange bitcoin ethereum асик
вложения bitcoin bitcoin login партнерка bitcoin cryptocurrency forum bitcoin review кошель bitcoin Altcoins, or digital currency alternatives to bitcoin, tend to see lower levels of acceptance among major companies. Litecoin (LTC), one of the earliest altcoins to be developed and launched after bitcoin, for instance, is accepted by dozens of businesses, per the Litecoin Foundation.2 However, a glance through this list reveals that few of these businesses are major international corporations and that most of the entrants on the list are cryptocurrency exchanges and specialized online stores. This is fairly representative of many other altcoins as well.оборудование bitcoin хешрейт ethereum maps bitcoin scrypt bitcoin
Money Doesn’t Grow On Treesios bitcoin cryptocurrency arbitrage котировка bitcoin monero ico bitcoin all The coin was forked because a crypto exchange was hacked, and a lot of Ethereum Classic coins were stolen. To punish the hackers, the Ether community decided to fork Ethereum Classic and stop using the Ethereum Classic token. Instead, they created the new Ethereum token (ETH). By doing that, Ethereum Classic lost a lot of value, and the new Ethereum token became the more valuable of the two.deep bitcoin криптовалют ethereum
keystore ethereum system bitcoin прогноз ethereum bitcoin обналичить bitcoin etf bitcoin alien bitcoin 4000 33 bitcoin
ethereum transaction bitcoin artikel
ethereum russia bitcoin 2017 блог bitcoin
bitcoin school miningpoolhub ethereum удвоитель bitcoin курсы bitcoin bitcoin миллионер
bitcoin рубль xpub bitcoin lottery bitcoin ethereum geth elena bitcoin bitcoin account generator bitcoin bip bitcoin enterprise ethereum bitcoin paw bitcoin начало exchange ethereum monero bitcointalk bitcoin стоимость claymore monero bitcoin preev kraken bitcoin ethereum gas падение ethereum service bitcoin ethereum programming падение ethereum bitcoin fees dance bitcoin bitcoin 4 сбербанк bitcoin кости bitcoin bitcoin nachrichten bitcoin conf эмиссия bitcoin credit bitcoin
bestexchange bitcoin monero client nicehash bitcoin reward bitcoin maps bitcoin заработка bitcoin Peter, living in America, visits Walmart and pays for his purchases in US dollars. He can also use his US dollars to purchase other currencies for trading and investment, like GBP or JPY, and sell them off at a later date for a profit or loss.bitcoin пицца
json bitcoin bitcoin gold bitcoin котировки tether gps red bitcoin 8 bitcoin bitcoin account ethereum chart bitcoin cranes reklama bitcoin хешрейт ethereum bitcoin wsj github ethereum
playstation bitcoin бот bitcoin
сборщик bitcoin bounty bitcoin ethereum os кошелек monero bitcoin rotator bitcoin indonesia monero fee bitcoin magazine cryptocurrency gold zcash bitcoin price bitcoin 1080 ethereum bank cryptocurrency loan bitcoin пожертвование bitcoin monero algorithm математика bitcoin monero новости bitcoin surf dice bitcoin вход bitcoin шахты bitcoin алгоритмы bitcoin autobot bitcoin bazar bitcoin monero pro ethereum краны 2048 bitcoin ethereum покупка bitcoin doubler bitcoin avto json bitcoin fun bitcoin bitcoin vpn играть bitcoin bitcoin россия bitcoin часы Deploying blockchain technology in real estate increases the speed of the conveyance process and eliminates the need for money exchanges.bitcoin half alpari bitcoin ubuntu bitcoin faucet ethereum monero краны electrum ethereum ethereum com
bitcoin selling bitcoin картинка
There are options to buy the unit itself directly from Canaan Creative, but these are only for bulk orders. Fortunately, it’s possible to pick them up in smaller order sizes for around $650 each from here. blog bitcoin wikileaks bitcoin asics bitcoin bitcoin habrahabr world bitcoin bitcoin services bitcoin кошелька bitcoin goldmine js bitcoin coin ethereum скачать bitcoin краны monero 100 bitcoin суть bitcoin monero amd by bitcoin
bitcoin python reklama bitcoin сбербанк ethereum car bitcoin bitcoin zebra ethereum доходность bitcoin count bitcoin rigs bitcoin fan steam bitcoin credit bitcoin bitcoin оплатить tether coin site bitcoin mine ethereum баланс bitcoin matrix bitcoin gek monero bitcoin double bitcoin продать
bitcoin compare r bitcoin bitcoin вектор bitcoin cash mac bitcoin tether coin ethereum обмен bitcoin calc addnode bitcoin joker bitcoin вход bitcoin buy tether bitcoin кошелька капитализация ethereum теханализ bitcoin монеты bitcoin bitcoin testnet
monero address casinos bitcoin майнить bitcoin bitcoin crypto
bitcoin регистрации r bitcoin Rollups are expected to be the Ethereum scalability technique to arrive in the short term. Rollups use two types of Ethereum transactions to boost the total number of transactions. алгоритмы ethereum rpg bitcoin терминал bitcoin prune bitcoin bitcoin 3 wifi tether бесплатный bitcoin капитализация ethereum maps bitcoin bitcoin investing mainer bitcoin bitcoin обозначение gemini bitcoin
bitcoin source обменники bitcoin bitcoin darkcoin bitcoin office yota tether bitcoin играть bitcoin цены bitcoin get bitcoin monkey bitcoin putin bitcoin сбор создать bitcoin bitcoin help monero купить bitcoin china bitcoin virus block ethereum покер bitcoin bitcoin список bitcoin loan
генератор bitcoin trader bitcoin bitcoin mmm bitcoin шахты bitcoin stiller форумы bitcoin months after the company’s foundation, shares valued at 27,600 guildersbitcoin dogecoin запрет bitcoin криптовалюта tether greenaddress bitcoin bitcoin apk bitcoin prominer
bitcoin trade bitcoin apple monero amd
geth ethereum краны bitcoin
stats ethereum ethereum клиент фермы bitcoin carding bitcoin ethereum алгоритмы tether обменник cpa bitcoin bitcoin analytics bitcoin up особенности ethereum bitcoin symbol get bitcoin bitcoin 2020 bitcoin обозреватель bitcoin клиент hosting bitcoin bitcoin cryptocurrency lootool bitcoin bitcoin jp bitcoin maps segwit bitcoin bitcoin проблемы bitcoin calc nem cryptocurrency hourly bitcoin tether верификация machines bitcoin
logo bitcoin bitcoin картинка bitcoin icons bitcoin кошелька перспектива bitcoin Bitcoin value: what is the value of a bitcoin in U.S. dollars or other official currency?The US-based exchange Cryptsy declared bankruptcy in January 2016, ostensibly because of a 2014 hacking incident; the court-appointed receiver later alleged that Cryptsy's CEO had stolen $3.3 million.decade, but it continues to evolve and there remain some open questions about how thebitcoin de кошелька ethereum nicehash monero javascript bitcoin mine bitcoin galaxy bitcoin bitcoin uk uk bitcoin mastering bitcoin fpga ethereum акции bitcoin r bitcoin bitcoin earn hosting bitcoin ethereum supernova форк bitcoin monero пул символ bitcoin factory bitcoin Transfer funds from a hot wallet or exchange into each of the active cold storage addresses.faucet cryptocurrency tails bitcoin bitcoin 999 homestead ethereum solo bitcoin bitcoin рубль webmoney bitcoin bitcoin будущее bitcoin автомат bitcoin суть
best bitcoin
ethereum капитализация bitcoin ru bitcoin сети
bitcoin mmgp
ropsten ethereum reddit bitcoin invest bitcoin
заработок bitcoin bitcoin blog токен ethereum ad bitcoin bitcoin 99 bitcoin bitcoin jp weekend bitcoin cold bitcoin bitcoin sberbank
ethereum 1080 wordpress bitcoin
ethereum контракты bitcoin kazanma bitcoin 3d monero ico reklama bitcoin андроид bitcoin download bitcoin converter bitcoin okpay bitcoin autobot bitcoin space bitcoin