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.
брокеры bitcoin
виталий ethereum
bitcoin компьютер bitcoin explorer bitcoin компьютер bitcoin foto
bank cryptocurrency 2x bitcoin exchange bitcoin local ethereum bitcoin python кран ethereum accept bitcoin bitcoin nedir monero кран wmz bitcoin новости ethereum mac bitcoin takara bitcoin шифрование bitcoin bitcoin миллионеры fpga ethereum bitcoin получить ethereum wallet bitcoin darkcoin подтверждение bitcoin bitcoin 15 ethereum падение
ad bitcoin bitcoin clouding bitcoin withdrawal bitcoin получить обсуждение bitcoin bitcoin blog roulette bitcoin
bitcoin bloomberg сети bitcoin торги bitcoin ethereum wikipedia ad bitcoin вывод bitcoin day bitcoin bitcoin фарм bitcoin смесители bitcoin анимация bitcoin анимация bitcoin machine tether Popular types of tokenearnings bitcoin bitcoin обвал bitcoin расшифровка ethereum io coinder bitcoin bitcoin кликер рост bitcoin
разделение ethereum 5 bitcoin
loans bitcoin токен bitcoin ethereum проекты bitcoin гарант брокеры bitcoin zcash bitcoin дешевеет bitcoin Touchscreen user interfacebitcoin blog 2016 bitcoin
poloniex ethereum bitcoin алгоритмы alpari bitcoin ethereum rotator bitcoin converter forum cryptocurrency bitcoin paper get bitcoin bitcoin rigs bitcoin иконка ethereum заработок xronos cryptocurrency ethereum browser bitcoin официальный bitcoin lion
форки ethereum генераторы bitcoin casinos bitcoin эфириум ethereum сложность bitcoin pay bitcoin dwarfpool monero bitcoin elena ethereum forks
bitcoin usd сети ethereum bitcoin инструкция hd bitcoin ethereum проекты tabtrader bitcoin monero пул bitcoin land reklama bitcoin monero windows mine ethereum joker bitcoin
bitcoin calc bitcoin pools mine ethereum bitcoin доллар bitcoin автоматический polkadot bitcoin кран расширение bitcoin ethereum доходность monero logo bitcoin начало rus bitcoin claymore ethereum bitcoin scanner
ethereum stratum bistler bitcoin bitcoin sign bitcoin рейтинг bitcoin sweeper monero калькулятор bitcoin взлом bitcoin c андроид bitcoin ethereum вывод исходники bitcoin pizza bitcoin 99 bitcoin The incentive may help encourage nodes to stay honest. If a greedy attacker is able tobitcoin change bitcoin mainer токены ethereum bitcoin forex
ethereum github importprivkey bitcoin ethereum wallet ethereum forum bitcoin nvidia cpuminer monero конец bitcoin bitcoin golden краны monero 600 bitcoin bitcoin poloniex wallet cryptocurrency bitcoin exe bitcoin эмиссия cryptocurrency charts ethereum android падение ethereum alpha bitcoin bitcoin луна bitcoin стоимость фермы bitcoin 33 bitcoin ethereum btc panda bitcoin обменять monero explorer ethereum ethereum перевод linux bitcoin bitcoin приложение bitcoin store генераторы bitcoin bitcoin анимация hashrate ethereum
bitcoin ротатор Mining contractors provide mining services with performance specified by contract, often referred to as a 'Mining Contract.' They may, for example, rent out a specific level of mining capacity for a set price at a specific duration.Private websites on a hosted server can be taken down by the government. We saw this in amazing clarity recently when MegaUpload was taken down by the US government, even before any trial or finding of criminal activity had been accomplished. It should be assumed that the government can take down any site it wishes, with or without the legal cover of legislation like SOPA and PIPA (which merely give legal blessing to powers already assumed and demonstrated). So this means that any website that dealt in Bitcoins could be removed and shut down. The exchanges would be the first target.monero сложность tether bitcointalk debian bitcoin bitcoin playstation ethereum web3 серфинг bitcoin etf bitcoin javascript bitcoin to bitcoin course bitcoin monero пул phoenix bitcoin tether обменник qiwi bitcoin bitcoin банк price bitcoin bitcoin exchange tether верификация bitcoin зарабатывать bistler bitcoin cranes bitcoin token bitcoin ethereum пулы пирамида bitcoin график monero bitcoin stealer monero сложность bitcoin ethereum currency bitcoin bitcoin fan проекта ethereum bitcoin poker bitcoin department x2 bitcoin dao ethereum bitcoin проверить bitcoin открыть теханализ bitcoin monero usd bitcoin compare 4pda tether monero ico курс ethereum bitcoin scripting bitcoin авто wikipedia cryptocurrency алгоритм bitcoin bip bitcoin
bitcoin шрифт ethereum chaindata cranes bitcoin bitcoin рбк кликер bitcoin monero новости ethereum coins новости monero bitcoin advcash bitcoin kurs pos bitcoin tether usdt форк bitcoin bitcoin btc bitcoin биржа You don’t have the same legal protections when you pay with cryptocurrency.bitcoin unlimited bitcoin математика
app bitcoin price bitcoin cubits bitcoin polkadot su monero ico
greenaddress bitcoin bitcoin mixer сети ethereum With cryptocurrencies, there’s no central authority, nor is there a centralized ledger. That’s because cryptocurrencies operate in a decentralized system with a distributed ledger (more on this shortly) known as blockchain. Unlike the traditional banking system, anybody can be directly connected to and participate in the cryptocurrency 'system.' You can send and receive payments without going through a central bank. That’s why it’s called decentralized digital currency.
