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Ethereum Protocol Specification

White Paper Ethereum/wiki Wiki Github

White Paper Ethereum/wiki Wiki Github

Introduction to Bitcoin and Existing Concepts The concept of decentralized digital currency, as well as alternative applications like property registries, has been around for decades. The anonymous e-cash protocols of the 1980s and the 1990s were mostly reliant on a cryptographic primitive known as Chaumian Blinding. [8] Chaumian Blinding provided these new currencies with high degrees of privacy, but their underlying protocols largely failed to gain traction because of their reliance on a centralized intermediary. In 1998, Wei Dai's b-money [9] became the first proposal to introduce the idea of creating money through solving computational puzzles as well as decentralized consensus, but the proposal was scant on details as to how decentralized consensus could actually be implemented. In 2005, Hal Finney introduced a concept of reusable proofs of work, [10] a system which uses ideas from b-money together with Adam Back's computationally difficult Hashcash [11] puzzles to create a concept for a cryptocurrency, but once again fell short of the ideal by relying on trusted computing as a backend. In 2009, a decentralized currency was for the first time implemented in practice by Satoshi Nakamoto, [1c] [1d] combining established primitives for managing ownership through public key cryptography with a consensus algorithm for keeping track of who owns coins, known as "proof of work." The mechanism behind proof of work was a breakthrough because it simultaneously solved two problems. First, it provided a simple and moderately effective consensus algorithm, allowing nodes in the network to collectively agree on a set of updates to the state of the Bitcoin ledger. Second, it provided a mechanism for allowing free entry into the consensus process, solving the political problem of Continue reading >>

Ethereum - Wikipedia

Ethereum - Wikipedia

This article has multiple issues. Please help improve it or discuss these issues on the talk page . This article relies too much on references to primary sources . Please improve this by adding secondary or tertiary sources . Some of this article's listed sources may not be reliable . Please help this article by looking for better, more reliable sources. Unreliable citations may be challenged or deleted. The Ethereum Project's logo, first used in 2014 Ethereum is an open-source , public, blockchain -based distributed computing platform featuring smart contract (scripting) functionality. [2] It provides a decentralized Turing-complete virtual machine , the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a cryptocurrency token called "ether", which can be transferred between accounts and used to compensate participant nodes for computations performed. [3] "Gas", an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network. [2] [4] Ethereum was proposed in late 2013 by Vitalik Buterin , a cryptocurrency researcher and programmer. Development was funded by an online crowdsale between July and August 2014. [5] The system went live on 30 July 2015, with 11.9 million coins "premined" for the crowdsale. [6] This accounts for approximately 13 percent of the total circulating supply. In 2016, as a result of the collapse of The DAO project, Ethereum was forked into two separate blockchains - the new forked version became Ethereum (ETH), and the original continued as Ethereum Classic (ETC). [7] [8] [9] Ethereum was initially described in a white paper by Vitalik Buterin , [10] a programmer involved with Bitcoin Magazine , in late 2013 with a goal of buildin Continue reading >>

Ethereum's Erc-20 Token Standard Has Been Formalized

Ethereum's Erc-20 Token Standard Has Been Formalized

Ethereum's ERC-20 Token Standard Has Been Formalized Sep 11, 2017 at 18:20 UTC|UpdatedSep 11, 2017 at 18:22 UTC The standard that governs how new cryptographic tokens can be launched on top of the ethereum blockchain has been been finalized. Revealed today by the open-source project's developer team, the ERC-20 standard establishes a common set of rules for tokens issued via ethereum smart contracts , and currently serves as the basis for the many tokens that have been released through initial coin offerings (ICOs). The standard has now been formalized on the ethereum GitHub page, meaningthat going forward, all tokens built on ethereum should conform to the standard. ERC-20 was previously unenforced, but it had been readily adopted by token developers since its introduction in late 2015. The standard ensures that ethereum-based tokens perform in a predictable way throughout the ecosystem, such that decentralized applications and smart contracts are interoperable across the platform, and that all tokens follow a fixed standard of security. A token is a script running on top of the ethereum blockchain, with an associated database keeping track of ether payments.The term has gained widespread use in ICOs, most of which already use ERC-20 tokens. The development comes as the roadmap for ethereum's next major upgrade, Metropolis, becomes clearer. Developers revealed last week that a new testnet will be launched a week from now. Pending the success of that process, ethereum's actual upgrade could come as early as October. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies . CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryp Continue reading >>

Ethereum Wire Protocol

Ethereum Wire Protocol

Peer-to-peer communications between nodes running Ethereum clients run using the underlying Vp2p Wire Protocol . Two peers connect & say Hello and send their Status message. Status includes the Total Difficulty(TD) & hash of their best block. The client with the worst TD asks peer for full chain of just block hashes. Chain of hashes is stored in space shared by all peer connections, and used as a "work pool". While there are hashes in the chain of hashes that we don't have in our chain: Ask for N blocks from our peer using the hashes. Mark them as on their way so we don't get them from another peer. Status[+0x00: P, protocolVersion: P, networkId: P, td: P, bestHash: B_32, genesisHash: B_32] Inform a peer of its current ethereum state. This message should be sent after the initial handshake and prior to any ethereum related messages. networkId: 0=Olympic (disused), 1=Frontier (mainnet), 2=Morden (disused), 3=Ropsten (testnet), 4= Rinkeby td: Total Difficulty of the best chain. Integer, as found in block header. bestHash: The hash of the best (i.e. highest TD) known block. genesisHash: The hash of the Genesis block. NewBlockHashes[+0x01: P, hash1: B_32, hash2: B_32, ...] Specify one or more new blocks which have appeared on the network. The list may contain 256 hashes at most. To be maximally helpful, nodes should inform peers of all blocks that they may not be aware of. Including hashes that the sending peer could reasonably be considered to know (due to the fact they were previously informed of because that node has itself advertised knowledge of the hashes through NewBlockHashes) is considered Bad Form, and may reduce the reputation of the sending node. Including hashes that the sending node later refuses to honour with a proceeding GetBlocks message is considered Bad Continue reading >>

Ethereum Bounty Program

Ethereum Bounty Program

The Ethereum Bounty Program provides bounties for bugs. We call on our community and all bug bounty hunters to help identify bugs in the protocols and clients. Earn rewards for finding a vulnerability and get a place on our leaderboard. See Rules & Rewards section for details. * No longer eligible for bounties, since October 2016. Martin now works for the Ethereum Foundation and, among other things, manages the bug bounty program. 2018-03-28: Several new entries on the leaderboard! Congratulations, and thanks! First off, we have awarded 10 000 points to the researchers from Boston University: Sharon Goldberg, Yuval Marcus and Ethan Heilman, for their research about eclipse attacks on geth nodes. The fixes were included in 1.8.0. Dominic Brtsch was awarded 7500 points for a vulnerability which could be used to trigger slow block processing in geth, which has been fixed in 1.8.3. Two DoS vulnerabilities in geth RPC methods were reported by Vasily Vasiliev, awarded 500 points each. We also awarded jazzybedi with 500 points for alerting us about DNS rebind vulnerabiliites, which were also fixed in 1.8.0. 2018-02-12: Barry Whitehat has been added to the leaderboard, for a discrepancy in how Geth vs Parity treated future blocks. The discrepancy could potentially cause a mining minority be at a disadvantage. This has been fixed by aligning how Geth and Parity treats such blocks. 2018-01-16: See the blog for a security announcement concerning the Mist Browser. The Mist browser is not considered production software, and we will not pay full rewards for upstream bugs. 2017-12-13: Yoonho Kim , of team Hithereum, has scored another 5000 points; again for an RCE in Mist/Electron. Also, Peter Stckli submitted a Mist-vulnerability which granted him 5000 points. Congratulations both! Continue reading >>

Devp2p Protocol Spec | Ethereum Frontier Guide

Devp2p Protocol Spec | Ethereum Frontier Guide

Peer-to-peer communications between nodes running Ethereum/Whisper/&c. clients are designed to be governed by a simple wire-protocol making use of existing V technologies and standards such as RLP wherever practical. This document is intended to specify this protocol comprehensively. Vp2p nodes may connect to each other over TCP only. Peers are free to advertise and accept connections on any port(s) they wish, however, a default port on which the connection may be listened and made will be 30303. Though TCP provides a connection-oriented medium, Vp2p nodes communicate in terms of packets. These packets are formed as a 4-byte synchronisation token (0x22400891), a 4-byte "payload size", to be interpreted as a big-endian integer and finally an N-byte RLP-serialised data structure, where N is the aforementioned "payload size". To be clear, the payload size specifies the number of bytes in the packet ''following'' the first 8. There are a number of different types of payload that may be encoded within the RLP. This ''type'' is always determined by the first entry of the RLP, interpreted as an integer. Vp2p is designed to support arbitrary sub-protocols (aka capabilities) over the basic wire protocol. Each sub-protocol is given as much of the message-ID space as it needs (all such protocols must statically specify how many message IDs they require). On connection and reception of the Hello message, both peers have equivalent information about what subprotocols they share (including versions) and are able to form consensus over the composition of message ID space. Message IDs are assumed to be compact from ID 0x10 onwards (0x00-0x10 is reserved for Vp2p messages) and given to each shared (equal-version, equal name) sub-protocol in alphabetic order. Sub-protocols that are not Continue reading >>

A Prehistory Of The Ethereum Protocol

A Prehistory Of The Ethereum Protocol

Although the ideas behind the current Ethereum protocol have largely been stable for two years, Ethereum did not emerge all at once, in its current conception and fully formed. Before the blockchain has launched, the protocol went through a number of significant evolutions and design decisions. The purpose of this article will be to go through the various evolutions that the protocol went through from start to launch; the countless work that was done on the implementations of the protocol such as Geth, cppethereum, pyethereum, and EthereumJ, as well as the history of applications and businesses in the Ethereum ecosystem, is deliberately out of scope. Also out of scope is the history of Casper and sharding research. While we can certainly make more blog posts talking about all of the various ideas Vlad, Gavin, myself and others came up with, and discarded, including proof of proof of work, hub-and-spoke chains, hypercubes , shadow chains (arguably a precursor to Plasma ), chain fibers , and various iterations of Casper , as well as Vlads rapidly evolving thoughts on reasoning about incentives of actors in consensus protocols and properties thereof, this would also be far too complex a story to go through in one post, so we will leave it out for now. Let us first begin with the very earliest version of what would eventually become Ethereum, back when it was not even called Ethereum. When I was visiting Israel in October 2013, I spent quite a bit of time with the Mastercoin team, and even suggested a few features for them. After spending a couple of times thinking about what they were doing, I sent the team a proposal to make their protocol more generalized and support more types of contracts without adding an equally large and complex set of features: Notice that this is Continue reading >>

Ocalog: The Original Content Catalog

Ocalog: The Original Content Catalog

Ethereum is a cryptocurrency where code can be executed on theblockchain. This capability allows "smart contracts" to be writtenwhich execute themselves automatically. About a year ago, a smartcontract called the DAO blew up spectacularly when someone figured outhow to manipulate it into giving them what was then $41 million worthof Eth. This caused a fracturing of the network when people decided to"fork" the blockchain to one where the DAO attack never happened.When I first heard about this, I thought "that sounds like so muchfun" but I haven't had time to gain a deep understanding of how itworks, until now. This is the first post in a series on the fullimplementation of the Ethereum protocol from a beginner's perspective.After this first post, I plan to write these posts in digestiblechunks so that you don't have to spend too much time reading themevery day, but over time you will gain a deeper understanding ofEthereum.I'm going to assume the reader has a basic understanding of Python,git, knowledge (not expertise) of network concepts like TCP and UDP,and no fear of working with raw bytes. Other than that I will try toassume nothing. Today I will start with a conceptual introduction tocryptocurrency, then set up a Python development environment, andfinally implement `ping` on the Ethereum network. Let's get started.### The concept of cryptocurrencyA cryptocurrency is a means of storing and transferring valueelectronically without a central settlement mechanism. A centralsettlement mechanism keeps track of all accounts, updates them foreach transaction, and acts as a trusted third party for alltransactions. In the United States, the Federal Reserve System is thecentral settlement mechanism. All banks have accounts at the Fed anduse its authority to settle transactions Continue reading >>

Raiden Network - Fast, Cheap, Scalable Token Transfers For Ethereum

Raiden Network - Fast, Cheap, Scalable Token Transfers For Ethereum

Fast, cheap, scalable token transfers for Ethereum The Raiden Network is an off-chain scaling solution, enabling near-instant, low-fee and scalable payments. Its complementary to the Ethereum blockchain and works with any ERC20 compatible token. The Raiden project is work in progress . Its goal is to research state channel technology, define protocols and develop reference implementations. Scales linearly with the number of participants Transfers can be confirmed within a subsecond Individual transfers dont show up in the global shared ledger Works with any token that follows Ethereums standardized token API (ERC20) Transfer fees can be orders of magnitude lower than on the blockchain Low transaction fees allow to efficiently transfer tiny values The Raiden Network is an infrastructure layer on top of the Ethereum blockchain. While the basic idea is simple, the underlying protocol is quite complex and the implementation non-trivial. Nonetheless the technicalities can be abstracted away, such that developers can interface with a rather simple API to build scalable decentralized applications based on the Raiden. Blockchains dont scale well because there needs to be global consensus on the order and outcome of all transfers. Every participant needs to learn about all updates to the shared ledger. Hardware and bandwidth constraints set a limit on the number of updates per second that can be shared in a decentralized network. The basic idea of the Raiden Network is to avoid the blockchain consensus bottleneck. This is done by leveraging a network of payment channels which allow to securely transfer value off-chain, i.e without involving the blockchain for every transfer. To learn more, read the Raiden Network 101 , take a look at the current specification or check out the c Continue reading >>

Uport Documentation

Uport Documentation

uPort is an interoperable identity network for a secure, private, decentralized web. uPort provides open protocols for decentralized identity and interoperable messaging that enable trusted source attribution for all web communication. By allowing message recipients to trust message senders without centralized servers, we can create an entirely new framework for building applications. uPort returns ownership of identity to individuals. uPort's open identity network allows users to register their own identity on Ethereum independent from any centralized authority. This decentralized model of identity forms the foundation for a user-centric data network, where users own and manage their personal data in privacy. On uPort, users are always in control of their data and they are free to share it with whomever they choose. uPort provides a standard interface to decentralized identity that bridges networks to create a universal, public-private web-of-trust. uPort identities are simply defined as addresses registered on public, permissionless networks. These addresses are controlled by private keys that sign messages, which can be sent to any destination. Identities are further expressed by a combination of publicly and privately available data. This simple model enables multi-network interoperability and identity standards compliance. uPort makes it easy to build with decentralized identity on Ethereum. uPort's open source components are simple to use and can support a variety of use case architectures. uPort has been designed to meet demanding usability, flexibility, and interoperability requirements. uPort decentralizes identity control from centralized custodians and data silos to the edges of the network. In doing so, uPort lays the foundation for a radically free, equita Continue reading >>

What Is Enterprise Ethereum Alliance And Why It Is Important?

What Is Enterprise Ethereum Alliance And Why It Is Important?

What is Enterprise Ethereum Alliance and Why it is important? The Ethereum protocol is provided in the form of a concise and formal specification of a complete Turing calculation performed on a global virtual machine. The strength of the Ethereum protocol is evident with the success of Ethereums public network, with over $ 1 billion in transactions in 2 years of existence. All this is connected by the Enterprise Ethereum Alliance which connects Fortune 500 companies with experts in the field. As companies integrate Ethereums Blockchain technologies into their technology stacks, they develope use cases that incorporate a wide range of business features that are not directly supported by the current Ethereum protocol. Enterprise features include user and transaction privacy, scalable computing, and network connectivity. For example, a user who wants to send transactions whose content is visible only to a particular user group can choose to use Quorum from J.P. Morgan, a branch of the Ethereum Foundations Geth customer implementation. Messages sent through a licensed public network of quorum queues to trigger the execution of correct communication transactions that update the private status database of all specified private entities. The integration of Ethereums protocol functions in the Ethereum protocol is difficult for three reasons. First of all, most of the fundamental changes in the protocol are calling on stakeholders interested in reflection, debate, consensus and adoption by the entire community. Second, Ethereums authorized private networks can not easily take advantage of public networks without well-defined support for privacy and network connectivity differences. Third, the integration of the various consensus mechanisms on the blocks to deal with the network Continue reading >>

What Is Ethereum? Ethereum Homestead 0.1 Documentation

What Is Ethereum? Ethereum Homestead 0.1 Documentation

Ethereum is an open blockchain platform that lets anyone build and use decentralized applications that run on blockchain technology. Like Bitcoin, no one controls or owns Ethereum it is an open-source project built by many people around the world. But unlike the Bitcoin protocol, Ethereum was designed to be adaptable and flexible. It is easy to create new applications on the Ethereum platform, and with the Homestead release, it is now safe for anyone to use those applications. Blockchain technology is the technological basis of Bitcoin, first described by its mysterious author Satoshi Nakamoto in his white paper Bitcoin: A Peer-to-Peer Electronic Cash System, published in 2008. While the use of blockchains for more general uses was already discussed in the original paper, it was not until a few years later that blockchain technology emerged as a generic term. A blockchain is a distributed computing architecture where every network node executes and records the same transactions, which are grouped into blocks. Only one block can be added at a time, and every block contains a mathematical proof that verifies that it follows in sequence from the previous block. In this way, the blockchains distributed database is kept in consensus across the whole network. Individual user interactions with the ledger (transactions) are secured by strong cryptography. Nodes that maintain and verify the network are incentivized by mathematically enforced economic incentives coded into the protocol. In Bitcoins case the distributed database is conceived of as a table of account balances, a ledger, and transactions are transfers of the bitcoin token to facilitate trustless finance between individuals. But as bitcoin began attracting greater attention from developers and technologists, novel p Continue reading >>

{set} Protocol - Collateralized Baskets Of Ethereum Erc20 Tokens

{set} Protocol - Collateralized Baskets Of Ethereum Erc20 Tokens

With ICOs and the digitization of assets, the world is being tokenized. We may find that in the next two decades that we have millions or billions of tokens. However, there are pains with dealing with the complexity of more tokens. Sending multiple tokens means multiple transactions With a growing number of tokens, there is no way to think about a group of tokens as a single token In computer science, abstraction is a tool that is used to focus on higher-level concepts and hide irrelevant details. Applying the concept to tokens, we introduce the {Set}, an abstract token that represents a basket of tokens. Like building blocks, {Set}s can be used to build other {Set}s {Set} Protocol is a set of smart contracts, tools, and specifications for issuing baskets of assets on blockchains. In a {Set} smart contract, tokens are issued by performing an atomic swap between the underlying tokens and the new {Set} token. The underlying tokens sent to the ownerless contract are trustlessly held as collateral. The new {Set} is an ERC20 token, which can be exchanged and traded like other tokens. Invest in a single {Set} that represents a basket of tokens like the S&P 500 or DJIA Continue reading >>

The Ethereum Token Standards You Need Toknow

The Ethereum Token Standards You Need Toknow

ERC stands for Ethereum Request for Comment. This is Ethereums version of a Request for Comments (RFC), a concept devised by the Internet Engineering Task Force . Memos within an RFC contain technical and organizational notes. For ERCs, this includes some technical guidelines for the buildout of the Ethereum network. This was written by Ethereum developers for the Ethereum community. Thus, the workflow of generating an ERC includes a developer. To create standards for the Ethereum platform, a developer submits an Ethereum Improvement Proposal (EIP). This includes protocol specifications and contract standards. Once that EIP is approved by a committee and finalized, it becomes an ERC. The complete list of EIPs can be found here . The finalized EIPs give the Ethereum developers a set of implementable standards. This allows Smart Contracts to be built with these standards, which a common interface can access. ERC-20 is the most well-known of all the standards within the entire crypto community, and most tokens issued on top of the Ethereum platform use it. The ERC-20 standard includes the following functions: totalSupply(): returns total token supply balanceOf(address _owner): returns account balance of _owners account transfer(address _to, uint256 _value): takes in number _value and transfers that amount of tokens to address _to and triggers transfer event transferFrom(address _from, address _to, uint256 _value): transfers _value amount of tokens from the address _from to the address _to, and triggers the transfer event approve(address _spender, uint256 _value): allows _spender to withdraw any number up to _value amount allowance(address _owner, address _spender): returns the amount which the_spender is still allowed to withdraw from the _owner The following events are t Continue reading >>

The Big Ethereum Short By Tuurdemeester

The Big Ethereum Short By Tuurdemeester

When it passed a market cap of $1.5 billion, both in March and in May, Ethereum became the highest valued non-bitcoin cryptocurrency ever. The enigmatic project is no doubt the altcoin that has the most Bitcoin enthusiasts confusedor even rattled. People are wondering whether Ethereum could be Bitcoin 2.0, like Facebook versus Myspace, or VHS to Bitcoins Betamax. Others have stated that Ethereum is carving out its own space entirely, calling it the oil to Bitcoins gold. Ethereum is a competitor of Bitcoin, like a shark is a competitor of a lion. You can have two apex species in different niches not competing I dont share either opinion. In my view, Ethereum is in direct competition with Bitcoin, and going forward itll most likely lose market share against it. Just sold short $ETH /$BTC, with stop losses at abt BTC 0.028. Feel like #Ethereum disarray isnt properly priced in. pic.twitter.com/xIp44yYyn5 Tuur Demeester (@TuurDemeester) July 29, 2016 In this article I explain why I have a bearish outlook on Ethereums token $ETH, certainly when expressed in Bitcoin terms. I dont claim omniscience and I of course could be wrong. Still, I think the following list gives voice to substantially under-appreciated concerns about the Ethereum cryptocurrency and ecosystem. If after reading this article you feel inclined to also short ETH/BTC, I suggest keeping in mind the following: Professional traders risk less than 1% of their capital in a trade, 2% in a maximum commitment . This is also my personal rule of thumb. Trading positions can only be held by an exchange, which means you will be subject to (significant) risk of loss of funds in case of a hack . A number of smart people are ETH-bullishI suggest studying their arguments, maybe even their direct criticism of this article. Ev Continue reading >>

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