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Ethereum What Is Coinbase

What Is Ethereum? - Coinbase

What Is Ethereum? - Coinbase

Ether is a digital currency used for operating smart contracts on the Ethereum network. Like Bitcoin, the Ethereum network and Ether tokens are not controlled or issued by any bank or government - instead it is an open network which is managed by its users. Ethereum has been deployed in different phases. Currently the Ethereum project is in the 2nd phase, called “Homestead”. The 4 planned phases for the growth of the Ethereum network are, in order: Frontier, Homestead, Metropolis, and Serenity. Ethereum Homestead clients are working smoothly after being in beta for several months without any major incidents. However, Ethereum is still an experimental technology. Since it allows for programs to run on a virtual machine, it’s still possible that some things may still go wrong, such as poorly written smart contracts that contain bugs. While Bitcoin allows you take part in a global financial network, using Ethereum you can participate in a global computational network. This is done by means of smart contracts, which are scripts of code that can be deployed in the Ethereum blockchain. Although smart contracts are still a very new technology, they have a wide range of potential applications in many different areas, such as voting, global supply chains, medical records, the financial system, and possibly others that have yet to be discovered. The value of Ethereum is not tied or pegged to the value of any other currency. Similar to stocks or property, Ethereum's value is determined by buying and selling in the open market. The price of Ethereum changes in real time based on the number of people who want to buy or sell it at a given moment. Ethereum is traded for bitcoin, dollars, euros, yen, and other currencies in real time 24 hours a day. Depending on the demand for b Continue reading >>

What Is Coinbase? - Ethereum Stack Exchange

What Is Coinbase? - Ethereum Stack Exchange

What is the ethereum coinbase? I understand it is an account, but what makes it different? Is it the same as Etherbase? I've read it's the "default account for your console session." Does that mean, when I interact with a dApp in Mist, this is the account Mist presumes I'm interacting from? Does this imply that coinbase is a status that can be set to different accounts (but only one account at a time)? Crypto currencies and blockchains in general allow you to work with arbitrarily many accounts at the same time. However often people want to have a default/primary account (e.g. miners have a designated mining address, average users will usually use one particular account even if they have multiple one for other purposes). Coinbase or etherbase (they are the same thing) is just this. However to keep it simple and less surprising, your coinbase account is actually the first account in your keystore (i.e. in theory the first account you ever created). You can manually set your etherbase to a different account if you reorder them (i.e. rename) in your keystore folder (btw, Geth 1.3.x requires a specific (relatively strange) key naming convention, but 1.4 onward will be able to use arbitrarily named keys from the keystore folder). Continue reading >>

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