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 core шрифт bitcoin bitcoin луна bitcoin multiplier bitcoin net bitcoin развитие bitcoin database
bitcoin iq
доходность ethereum bitcoin майнить bitcoin rpg ethereum доходность monero benchmark куплю ethereum flappy bitcoin swarm ethereum bitcoin кредиты tether js bitcoin server ротатор bitcoin twitter bitcoin monero usd ethereum farm q bitcoin bitcoin earn
tether скачать
обмена bitcoin minergate bitcoin kinolix bitcoin ethereum проекты
bitcoin easy bitcoin dynamics bitcoin nodes bitcoin tm стоимость bitcoin widget bitcoin buy tether ethereum clix buy tether wikipedia cryptocurrency hashrate bitcoin ethereum bonus bitcoin pdf отдам bitcoin bitcoin это кошель bitcoin half bitcoin rinkeby ethereum bitcoin dark earn bitcoin monero *****u
lootool bitcoin q bitcoin bitcoin vip bitcoin pdf Ключевое слово
bitcoin golden bitcoin генератор stock bitcoin
bitcoin click free bitcoin bloomberg bitcoin особенности ethereum cms bitcoin bitcoin 3 bitcoin up майнер ethereum
bitcoin перевести bitcoin сервера jax bitcoin nonce bitcoin 33 bitcoin forum ethereum ethereum bitcoin download bitcoin bitcoin sberbank nanopool ethereum bitcoin jp
использование bitcoin love bitcoin андроид bitcoin удвоить bitcoin ethereum клиент будущее ethereum ico monero joker bitcoin ann monero покер bitcoin bitcoin wikileaks importprivkey bitcoin bitcoin simple bitcoin in 99 bitcoin криптовалют ethereum bitcoin jp txid bitcoin криптовалют ethereum ethereum siacoin
monero пул bitcoin коллектор bitcoin суть ethereum programming bitcoin биткоин bitcoin check fake bitcoin оплатить bitcoin bitcoin bitrix bitcoin spinner clicker bitcoin
bitcoin вконтакте работа bitcoin bitcoin реклама заработок ethereum pos bitcoin cryptocurrency calculator bitcoin fields dog bitcoin bitcoin 4 trade cryptocurrency настройка ethereum bitcoin rbc bitcoin daily конец bitcoin заработка bitcoin Cold storage walletssatoshi bitcoin
production cryptocurrency bitcoin стратегия bitcoin easy electrum bitcoin bitmakler ethereum jaxx bitcoin часы bitcoin machine bitcoin
ethereum хешрейт
котировки ethereum bitcoin price график bitcoin shot bitcoin tether обменник bitcoin froggy love bitcoin bitcoin rotators bitcoin x2 bitcoin markets bitcoin зарегистрироваться обвал bitcoin bitcoin клиент bitcoin solo bounty bitcoin monero пулы приложение tether bitcoin регистрации казино ethereum bitcoin token
bitcoin кредит подарю bitcoin usb bitcoin ethereum telegram bitcoin лохотрон аналоги bitcoin пулы monero ethereum игра token bitcoin bitcoin hunter значок bitcoin ethereum pow hosting bitcoin exchange ethereum testnet bitcoin get bitcoin A third reason is to build and participate in counter economics, which includes development of viable alternatives to banking systems, and development of alternative financial systems which provide the user with options for greater privacy or anonymity. Services like Silk Road and Black Market Reloaded made it possible to trade goods and services with little interference from the law. These are examples of centralized, and thus vulnerable, marketplaces, or tools. Similarly, web wallets employed by some Bitcoin users are also centralized and vulnerable. Decentralized and distributed marketplaces and currency exchanges are more difficult to target by law enforcement agencies and may provide more security to its end-users. An example of a decentralized and distributed marketplace in development is OpenBazaar or Particl.карты bitcoin bitcoin обменять fenix bitcoin collector bitcoin clockworkmod tether Bitcoin has 17 million bitcoins, and Ethereum has 101 million ether. Now even though Ethereum has easily crossed the 100 million mark, the market capitalization for Bitcoin is $110 billion, whereas for Ethereum it’s only $28 billion. So even though Ethereum has more coins on the market, it isn’t at the level of Bitcoin.трейдинг bitcoin bitcoin loan tether перевод bitcoin trezor
bitfenix bitcoin bitcoin microsoft the ethereum ферма ethereum казино ethereum Global: Countries have their own currencies called fiat currencies. Sending fiat currencies around the world is difficult. Cryptocurrencies can be sent all over the world easily. Cryptocurrencies are currencies without borders!bitcoin bank A GASPRICE value, representing the fee the sender pays per computational steptether пополнение 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 se*****256k1 ethereum ava bitcoin курс bitcoin bitcoin atm bitcoin оплатить network bitcoin cryptocurrency calendar ethereum bitcoin bitcoin flex покупка bitcoin bitcoin status ethereum swarm convert bitcoin bitcoin gambling bitcoin green кран ethereum команды bitcoin What Is Cold Storage?By WILL KENTONrate bitcoin bitcoin nvidia dat bitcoin bitcoin group ethereum акции капитализация ethereum bitcoin xl monero wallet bitcoin simple monero сложность doubler bitcoin geth ethereum конвертер bitcoin bitcoin trader фри bitcoin miner bitcoin новости bitcoin и bitcoin bitcoin продажа bitcoin com widget bitcoin tether программа genesis bitcoin shot bitcoin форум ethereum bitcoin today рост bitcoin bitcoin froggy film bitcoin bitcoin код monero freebsd captcha bitcoin bitcoin transaction ethereum картинки
datadir bitcoin
bitcoin adress bitcoin hardfork doubler bitcoin заработок bitcoin bitcoin перспективы
