How is Ethereum similar to Bitcoin?
I think it’s easiest to understand Ethereum by exploring the similarities and differences between Ethereum and a simpler system, Bitcoin. So what are the similarities?
Ethereum has a blockchain
Like Bitcoin, Ethereum has a blockchain, which contains blocks of data (transactions and smart contracts). The blocks are created or mined by some participants and distributed to other participants who validate them.
You can explore this blockchain here: https://etherscan.io
Blocks form a chain by referring to the hash or fingerprint of the previous block. See a gentle introduction to blockchain technology for a primer.
Ethereum is public and permissionless
Like Bitcoin, the main Ethereum network is a public, permissionless network – ie anyone can download or write some software to connect to the network and start creating transactions and smart contracts, validating them, and mining blocks without needing to log in or sign up with any other organisation.
In general, when people talk about Ethereum they mean the main public permissionless instance (version) of the network. However, like Bitcoin, you can take Ethereum software, modify it slightly and create private networks that aren’t connected to the main public network. The private tokens and smart contracts won’t be compatible with the public tokens though, for now. For more on the difference between public permissionless and private permissioned networks, see confused by blockchains? Revolution vs Evolution
Ethereum has Proof-of-Work (PoW) mining
Like Bitcoin, mining participants create valid blocks by spending electricity to find solutions to a mathematical puzzle. Ethereum’s PoW maths challenge called Ethash works slightly differently to Bitcoin’s, and this allows common hardware to be used for mining. This reduces the efficiency edge of task-specific hardware known as ASICs, which are common in Bitcoin mining.
For more on mining see a gentle introduction to bitcoin mining.
On Ethereum’s roadmap there is a plan to move from electricity-expensive Proof-of-Work mining to a more energy-efficient Proof-of-Stake protocol called Casper, in a future release of the Ethereum software called Serenity.
Ethereum has an inbuilt cryptocurrency
Ethereum’s token is called Ether, shortened to ETH. This is a cryptocurrency that can be traded for other cryptocurrencies or other sovereign currencies, just like BTC. Its current value is around US$13 per ETH token (Oct 2016). Token ownership is tracked on the Ethereum blockchain, just like BTC ownership is tracked on Bitcoin’s blockchain, though at a technical level they track them in slightly different ways.
For more on cryptocurrencies and tokens see a gentle introduction to digital tokens.
ProposedThus New Jersey style also dictates that 'it is important to remember that the initial virus has to be basically good. If so, the viral spread is assured as long as it is portable.' Comments from Nakamoto on June 17, 2010, imply that the challenge of Bitcoin was designing a network which would have high developer draw, and high hardware draw, but still achieve 'functionality closer to 90 percent' of what people would want in a currency system right off the bat:It is extremely expensivefarm-storagebitcoin purchase android tether ethereum coin zcash bitcoin ethereum прибыльность ethereum android кошельки bitcoin bitcoin видеокарты bitcoin gif
bitcoin icons
bitcoin puzzle е bitcoin zebra bitcoin bitcoin clouding bitcoin платформа The unfortunate truth is your bitcoin wallet is akin to your physical wallet. If you lose the private keys to your wallet, you’re most likely going to lose the currency in it forever. tera bitcoin What is SegWit and How it Works Explainedbitcoin start But the digital revolution has not yet revolutionized cross-border transactions. Western Union remains a big name, running much the same business they always have. Banks continue to use a complex infrastructure for simple transactions, like sending money abroad.перспективы ethereum bitcoin приложение bitcoin продажа bitcoin автоматически bitcoin рулетка roll bitcoin bitcoin plus500 отзывы ethereum
bitcoin работа bitcoin roll bitcoin cgminer bitcoin sphere avto bitcoin
freeman bitcoin new bitcoin blender bitcoin бесплатные bitcoin ethereum перевод bitcoin bat litecoin bitcoin bitcoin microsoft bitcoin trojan bitcoin roll bitcoin fire bitcoin start bitcoin scan puzzle bitcoin 50 bitcoin bitcoin pdf bitcoin blue tether clockworkmod порт bitcoin добыча bitcoin bitcoin видеокарты
bittorrent bitcoin bitcoin видеокарты bitcoin course вложения bitcoin bitcoin банкнота cryptocurrency это bitcoin home ios bitcoin bitcoin half dance bitcoin bitcoin зарегистрироваться график monero fork bitcoin
microsoft bitcoin покупка ethereum time bitcoin ethereum инвестинг робот bitcoin captcha bitcoin testnet ethereum миксер bitcoin ethereum swarm обзор bitcoin bitcoin прогнозы bitcoin кошельки bitcoin conference planet bitcoin bitcoin котировка bitcoin сокращение ethereum майнить bitcoin код bitcoin окупаемость bitcoin ann Ключевое слово сбербанк bitcoin bitcoin apple addnode bitcoin bitcoin магазины hacking bitcoin bitcoin conference tether usb bitcoin cudaminer trade cryptocurrency bitcoin goldmine gift bitcoin addnode bitcoin status bitcoin bitcoin расчет data bitcoin wordpress bitcoin in bitcoin local ethereum
Ethereum's smart contracts are written in high-level programming languages and then compiled down to EVM bytecode and deployed to the Ethereum blockchain. They can be written in Solidity (a language library with similarities to C and JavaScript), Serpent (similar to Python, but deprecated), Yul (an intermediate language that can compile to various different backends – EVM 1.0, EVM 1.5 and eWASM are planned), LLL (a low-level Lisp-like language), and Mutan (Go-based, but deprecated). There is also a research-oriented language under development called Vyper (a strongly-typed Python-derived decidable language). Source code and compiler information are usually published along with the launch of the contract so that users can see the code and verify that it compiles to the bytecode that is on-chain.пицца bitcoin bitcoin сеть bitcoin 2017 bitcoin cny bitcoin генераторы bitcoin php tether курс ethereum plasma stealer bitcoin lightning bitcoin tcc bitcoin счет bitcoin bitcoin auction javascript bitcoin ethereum телеграмм bitcoin traffic x bitcoin roulette bitcoin bitcoin security
форки ethereum bitcoin bcc bitcoin s
bitcoin click monero прогноз monero address british bitcoin bitcoin is masternode bitcoin
удвоитель bitcoin bitcoin bear bitcoin node bitcoin 2018 web3 ethereum заработка bitcoin bitcoin easy 16 bitcoin прогноз ethereum криптовалюты bitcoin
ethereum erc20 bitcoin окупаемость blocks bitcoin bitcoin блок secp256k1 ethereum
bitcoin is ethereum хешрейт block ethereum chaindata ethereum bitcoin реклама стратегия bitcoin
bitcoin download 1000 bitcoin code bitcoin bitcoin earning Similarly, Ethereum records the transactions of ETH. But it also provides the functionality to record changes in the state of the network when smart contracts or programs which run on the Ethereum Virtual Machine are executed.bitcoin arbitrage майнить bitcoin bitcoin сколько bitcoin nodes monero прогноз planet bitcoin programming bitcoin bitcoin reddit 1 monero bistler bitcoin инвестирование bitcoin hub bitcoin mining ethereum mikrotik bitcoin
Think about content monetization, for example. One reason media businesses such as newspapers struggle to charge for content is because they need to charge either all (pay the entire subscription fee for all the content) or nothing (which then results in all those terrible banner ads everywhere on the web). All of a sudden, with Bitcoin, there is an economically viable way to charge arbitrarily small amounts of money per article, or per section, or per hour, or per video play, or per archive access, or per news alert.купить bitcoin смесители bitcoin trezor bitcoin форки bitcoin ethereum complexity
bitcoin exchanges
bootstrap tether ethereum телеграмм халява bitcoin кредит bitcoin переводчик bitcoin bitcoin etf ethereum кошелек bitcoin solo A miner would be willing to process a transaction if the expected reward is greater than the cost. Thus, the expected reward is kR/N since the miner has a 1/N chance of processing the next block, and the processing cost for the miner is simply kC. Hence, miners will include transactions where kR/N > kC, or R > NC. Note that R is the per-operation fee provided by the sender, and is thus a lower bound on the benefit that the sender derives from the transaction, and NC is the cost to the entire network together of processing an operation. Hence, miners have the incentive to include only those transactions for which the total utilitarian benefit exceeds the cost.суть bitcoin But for all the issues, it seems to work. Just like Unix, there were countless ways to destroy your data or crash the system, which didn’t exist on more ‘proper’ OSs like OpenVMS, and there were countless lacking features compared to systems like ITS or the Lisp machine OSs. But like the proverbial cockroaches, Unix spread, networked, survived—and the rest did not.30 And as it survives and evolves gradually, it slowly becomes what it 'should' have been in the first place. Or HTML31 vs Project Xanadu.r bitcoin ledger bitcoin bitcoin scam банкомат bitcoin asics bitcoin bitcoin bounty
bitcoin main видео bitcoin ethereum википедия bitcoin котировки обмен tether шахта bitcoin история ethereum криптовалюта tether bitcoin org euro bitcoin panda bitcoin bitcoin department equihash bitcoin bitcoin обменять блог bitcoin safe bitcoin bitcoin порт bitcoin motherboard ethereum cryptocurrency de bitcoin bitcoin goldman bitcoin cranes bitcoin fpga bitcoin tm bitcoin information monero coin monero сложность usd bitcoin карты bitcoin bitcoin окупаемость bitcoin maps monero кран de bitcoin
bitcoin novosti
сатоши bitcoin bitcoin exchange get bitcoin форк ethereum bitcoin stealer bitcoin 4096 ethereum web3 стоимость ethereum fork bitcoin использование bitcoin эфир bitcoin bitcoin приложение
видеокарты bitcoin ethereum plasma exchange cryptocurrency
bitcoin aliexpress cryptocurrency wallets film bitcoin ethereum краны надежность bitcoin майнинга bitcoin bitcoin экспресс bitcoinwisdom ethereum master bitcoin monero bitcoin bat Encrypted lockHow to Mine Moneroкнига bitcoin free monero world bitcoin monero майнинг monero proxy bitcoin sign что bitcoin flypool monero Transactionsethereum swarm пулы bitcoin
trade cryptocurrency monero пулы bitcoin hash bitcoin ne rus bitcoin bitcoin multiplier рулетка bitcoin bitcoin cap добыча bitcoin аналоги bitcoin asus bitcoin segwit2x bitcoin bitcoin шахты сбербанк ethereum пример bitcoin bitcoin reserve регистрация bitcoin flypool ethereum location bitcoin платформе ethereum python bitcoin reindex bitcoin ethereum logo bitcoin anonymous block ethereum альпари bitcoin bitcoin приложения nanopool ethereum
bitcoin click block ethereum bitcoin x2
фри bitcoin qiwi bitcoin
trinity bitcoin satoshi bitcoin bitcoin png bitcoin мерчант monero обменять gui monero monero usd bitcoin hosting bitcoin froggy ethereum forum bitcoin fpga ethereum io cryptocurrency calendar usb bitcoin bitcoin gadget japan bitcoin bitcoin ledger cryptocurrency dash bitcoin clicks биржа ethereum bitcoin greenaddress
nanopool ethereum вклады bitcoin bitcoin froggy bitcoin cran direct bitcoin monero пулы bitcoin course торги bitcoin bitcoin книга tether купить фермы bitcoin bitcoin вклады bitcoin игры bitcoin сбербанк
ферма ethereum ethereum fork
bitcoin окупаемость monero cryptonight alpari bitcoin bitcoin markets bitcoin хайпы frontier ethereum 10000 bitcoin bitcoin algorithm
bitcoin hunter ethereum debian ethereum краны hit bitcoin dollar bitcoin asics bitcoin dance bitcoin фильм bitcoin bitcoin get community bitcoin bitcoin arbitrage
bitcoin book bitcoin lurk webmoney bitcoin Some authors argue that proof of stake is not an ideal option for a distributed consensus protocol. One issue that can arise is the 'nothing-at-stake' problem, wherein block generators have nothing to lose by voting for multiple blockchain histories, thereby preventing consensus from being achieved. Because unlike in proof-of-work systems, there is little cost to working on several chains. Some cryptocurrencies are vulnerable to Fake Stake attacks, where an attacker uses no or very little stake to crash an affected node.ethereum programming laundering bitcoin будущее bitcoin создать bitcoin money bitcoin bitcoin antminer bitcoin информация stealer bitcoin суть bitcoin cryptocurrency wallets bitcoin rub адрес ethereum ubuntu ethereum bitcoin приложение криптовалют ethereum bitcoin step
bitcoin фарм
ethereum кошелек bitcoin registration
bitcoin видеокарты bitcoin dark ethereum markets bitcoin reserve настройка monero bitcoin capitalization decred ethereum wmz bitcoin bitcoin qr bitcoin boxbit grayscale bitcoin bitcoin trojan s bitcoin bitcoin vizit
майнить bitcoin bitcoin c client ethereum
кошелька ethereum
ethereum miners ethereum info minergate bitcoin основатель bitcoin tcc bitcoin bitcoin ann bitcoin spend bitcoin rub bounty bitcoin
хайпы bitcoin
bitrix bitcoin What is Litecoin: a Litecoin on a table.Who gets to accept or reject proposed changes? At the developer level the goal is to achieve 'rough consensus' which means you don’t need 100% agreement, but you need to develop any proposal to the point that there are no reasonable objections remaining against implementing it.ethereum wallet рубли bitcoin siiz bitcoin One of the first supporters, adopters, contributors to bitcoin and receiver of the first bitcoin transaction was programmer Hal Finney. Finney downloaded the bitcoin software the day it was released, and received 10 bitcoins from Nakamoto in the world's first bitcoin transaction on 12 January 2009 (bloc 170). Other early supporters were Wei Dai, creator of bitcoin predecessor b-money, and Nick Szabo, creator of bitcoin predecessor bit gold.Very securebestchange bitcoin bitcoin реклама bitcoin youtube ethereum transactions bitcoin uk to finalize proposal i if enough votes have been madebitcoin rt bitcoin tor bitcoin обозначение tether верификация
