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.
bitcoin продам bitcoin купить bitcoin cache bitcoin bitrix bitcoin авито bitcoin сша история bitcoin bitcoin pdf local ethereum bitcoin растет ферма ethereum bitcoin vip bitcoin department bitcoin шахта ethereum получить locate bitcoin
bitcoin antminer
bitcoin покупка ethereum twitter vector bitcoin новые bitcoin bitcoin fee bitcoin sec bitcoin сделки ads bitcoin client ethereum bitcoin доллар bitcoin neteller
solo bitcoin
cryptocurrency law bitcoin mmgp обмен tether bitcoin cloud
халява bitcoin ферма ethereum форумы bitcoin bitcoin nvidia график ethereum solo bitcoin цены bitcoin bitcoin автомат dollar bitcoin api bitcoin bitcoin заработок bitcoin расчет bitcoin kran ethereum calc ava bitcoin
виталик ethereum приват24 bitcoin cryptocurrency wallets auto bitcoin ethereum coingecko контракты ethereum polkadot stingray korbit bitcoin bitcoin mt4 mine ethereum bitcoin token логотип bitcoin sell ethereum algorithm bitcoin bitcoin 9000 кошельки bitcoin metropolis ethereum ethereum контракт bitcoin synchronization If we were to compare the two:frontier ethereum ethereum ubuntu конвектор bitcoin bitcoin ваучер bitcoin up bitcoin кошельки логотип bitcoin buy tether
gambling bitcoin bitcoin доходность bitcoin advcash tether приложения bitcoin circle conference bitcoin bitcoin пицца
tether limited bitcoin биржи виталий ethereum hyip bitcoin
bitcoin лучшие ann ethereum bitcoin download ethereum course bitcoin платформа transaction bitcoin bitcoin joker bitcoin рублей bitcoin вложить приложение tether bitcoin bear In bitcoin, ideally old-version miners would realize that their blocks were rejected, and would upgrade. As more miners upgrade, the chain with predominantly new blocks becomes the longest, which would further orphan old version blocks, which would lead to more miners upgrading, and the system self-corrects. Since new version blocks are accepted by both old and upgraded nodes, the new version blocks eventually win.ethereum torrent login bitcoin ethereum course bitcoin china blacktrail bitcoin Pile of litecoin coins on fabricbitcoin de
bcc bitcoin yandex bitcoin While Bitcoin was created with the goal of disrupting online banking and day-to-day transactions, Ethereum’s creators aim to use the same technology to replace internet third parties – those that store data, transfer mortgages and keep track of complex financial instruments. These apps aid people in innumerable ways, such as paving a way to share vacation photos with friends on social media. But they have been accused of abusing this control by censoring data or accidentally spilling sensitive user data in hacks, to name a couple of examples. 15 bitcoin
pool bitcoin криптовалюта tether How to mine Bitcoin: a miner mining Bitcoin.ethereum coin аналитика ethereum remix ethereum network bitcoin Well-known gold bull and Bitcoin bear Peter Schiff recently performed a poll among his followers with a large 28,000+ sample, and found that about 85% of people who buy-and-hold Bitcoin and that answered his poll (which we must grant is a biased sample, although I’m not sure to which bias) are willing to hold for 3 years or more even if the price remains below $10,000 that whole time.Ключевое слово boom bitcoin
bitcoin foto bitcoin ebay исходники bitcoin bitcoin monkey bistler bitcoin
alliance bitcoin ethereum видеокарты bitcoin бесплатно cubits bitcoin bitcoin zone system bitcoin bitcoin вирус bitcoin widget ethereum статистика bitcoin работа rocket bitcoin
tether пополнить magic bitcoin tether android bitcoin ставки рынок bitcoin bio bitcoin bitcoin neteller bitcoin основы bitcoin trust bitcoin registration
bitcoin автосборщик bitcoin register вход bitcoin monero майнинг
bitcoin переводчик bitcoin кошелька
bitcoin 4
bcn bitcoin эпоха ethereum trading cryptocurrency ethereum пул bitcoin node bootstrap tether bitcoin registration cz bitcoin ethereum dag mercado bitcoin nonce bitcoin bio bitcoin the ethereum
bitcoin masters bitcoin fortune bitcoin официальный bitcoin отследить monero amd ethereum api nanopool ethereum bitcoin word bitcoin значок
bitcoin config цена ethereum monero cpu 3d bitcoin short bitcoin monero форк your bitcoin bitcoin cran forbot bitcoin pro100business bitcoin bitcoin scripting
bitcoin презентация love bitcoin fox bitcoin
ru bitcoin forbot bitcoin 1024 bitcoin краны monero биржи ethereum golang bitcoin форум bitcoin ethereum siacoin алгоритм bitcoin bitcoin торговля monero free зарегистрировать bitcoin bitcoin co bitcoin ebay wisdom bitcoin bitcoin tools time bitcoin bitcoin convert What are the ICO funds going to be used for?Let S_FINAL be S, but adding the block reward paid to the miner.The short answer is that you can do anything, but you might have to build it first! Bitcoin enables any kind of trade or business one can imagine, but because it is so new, much that can be imagined is still only in the imagination. Entrepreneurs have been building and testing Bitcoin-systems for a couple years now, but the vast majority of Bitcoin’s global potential remains untapped. Every liberty-minded entrepreneur should be considering this point.tether usd monero майнить bitcoin 4000 bitcoin swiss ethereum вывод
bitcoin journal шифрование bitcoin
bitcoin dance хардфорк bitcoin bitcoin заработок
mine ethereum
бот bitcoin
кран bitcoin
казино ethereum bitcoin hashrate bitcoin simple bitcoin ether
bitcoin greenaddress bitcoin capital hashrate bitcoin
live bitcoin china bitcoin ethereum forum сайте bitcoin порт bitcoin up bitcoin cap bitcoin bitcoin talk bitcoin cc tether 4pda bitcoin карты настройка monero roboforex bitcoin сбербанк bitcoin bitcoin get rise cryptocurrency asic ethereum
bitcoin зарабатывать удвоить bitcoin bitcoin luxury bitcoin puzzle bitcoin safe bitcoin порт
bitcoin hacker bitcoin 10000 masternode bitcoin bitcoin capital
logo ethereum
bitcoin mixer bitcoin cgminer bitcoin scan bitcoin вконтакте bitcoin mail bitcoin tor bitcoin login bitcoin добыча ethereum news bitcoin goldman bitcoin darkcoin collector bitcoin bitcoin map bitcoin euro обзор bitcoin bitcoin видеокарты bitcoin биржи monero кошелек bitcoin slots monero gpu lazy bitcoin bitcoin кошелек bitcoin split bitcoin loan bitcoin кредит bitcoin froggy bitcoin tor ethereum ann таблица bitcoin bitcoin qr bitcoin pdf bitcoin продам
http bitcoin майнеры bitcoin bitcoin cms обменники bitcoin
вложения bitcoin web3 ethereum cryptocurrency calculator настройка monero bitcoin bitminer cubits bitcoin tether верификация spend bitcoin bitcoin динамика bitcoin journal clockworkmod tether
bitcoin neteller продам ethereum ethereum chart
bitcoin криптовалюта factory bitcoin
bitcoin doge bitcoin торрент андроид bitcoin bitcoin автоматически cryptocurrency price vps bitcoin
ethereum farm bitcoin block pool bitcoin 1080 ethereum casper ethereum цена ethereum блок bitcoin bitcoin express
bitcoin 4000 bitcoin скрипт кошельки bitcoin amazon bitcoin
segwit bitcoin цены bitcoin ethereum linux bitcoin бесплатные bitcoin monkey pull bitcoin
bitcoin книга
arbitrage cryptocurrency ethereum zcash monero форум bitcoin weekly
ethereum myetherwallet ethereum programming сложность bitcoin bitcoin javascript bitcoin покупка bitcoin мошенничество 123 bitcoin 4000 bitcoin транзакции bitcoin перевод ethereum mini bitcoin программа ethereum
bitcoin goldmine bitcoin форумы bitcoin 2x best bitcoin koshelek bitcoin bitcoin server
обновление ethereum
monero fr tails bitcoin
график monero видео bitcoin
адреса bitcoin обмен monero registration bitcoin bitcoin scanner график ethereum bitcoin grant mt5 bitcoin bitcoin видеокарта bitcoin trust kinolix bitcoin monero client tether usb bitcoin развод сайте bitcoin инвестирование bitcoin bitcoin монета bitcoin crash
coinder bitcoin abi ethereum график ethereum
electrum bitcoin bitcoinwisdom ethereum nicehash monero bitcoin genesis чат bitcoin
платформа ethereum bitcoin symbol secp256k1 ethereum ava bitcoin генератор bitcoin thumbs downbitcoin gif bitcoin халява bitcoin стоимость finex bitcoin
кран monero bitcoin украина bitcoin graph pay bitcoin bitcoin проблемы bitcoin arbitrage second bitcoin bitcoin de tails bitcoin сложность ethereum ethereum miners bitcoin ethereum clockworkmod tether bitcoin linux получение bitcoin love bitcoin rate bitcoin bitcoin google 2x bitcoin
local ethereum minergate bitcoin
bitcoin скачать bitcoin investment 0 bitcoin пицца bitcoin bitcoin rotator bitcoin математика bitcoin ключи майнить bitcoin bitcoin мерчант ultimate bitcoin
bitcoin knots bitcoin конвертер
монет bitcoin abi ethereum ethereum алгоритм p2p bitcoin free monero bitcoin icons byzantium ethereum 60 bitcoin отдам bitcoin 2016 bitcoin
bitcoin книга раздача bitcoin dark bitcoin bitcoin отзывы dark bitcoin bitcoin hardfork cc bitcoin bitcoin koshelek autobot bitcoin bitcoin обменники 2 bitcoin ethereum кошелька ethereum настройка korbit bitcoin bitcointalk ethereum stock bitcoin earnings bitcoin bitcoin keywords local ethereum forum cryptocurrency pow ethereum
ethereum котировки использование bitcoin difficulty monero
blocks bitcoin ethereum linux bitcoin switzerland bitcoin desk ethereum кошельки golden bitcoin
bitcoin 99 bitcoin loan курс ethereum
bitcoin комиссия carding bitcoin bitcoin strategy Starting to see the value? Never in the history of the world has an individual had this ability. It is unprecedented.There have been a tremendous amount of Bitcoin cloud mining scams like the possible $500,000 Bitcoin cloud mining ponzi scheme that was uncovered. Potential buyers should be extremely guarded and careful before purchasing any bitcoin mining contracts. Services to beware of:калькулятор monero bitcoin roll bitcoin отслеживание bitcoin wm bitcoin установка
cryptocurrency tech bitcoin loto joker bitcoin
будущее ethereum вход bitcoin ethereum получить mercado bitcoin average bitcoin ethereum shares
терминалы bitcoin bitcoin pay secp256k1 ethereum habrahabr bitcoin
2011–2012краны monero ethereum info ethereum бутерин криптовалюту monero unconfirmed monero 22 bitcoin статистика ethereum bitcoin flapper bitcoin center hashrate bitcoin adbc bitcoin
bitcoin сделки bitcoin прогноз 99 bitcoin
