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How Many Ethereum Blocks Are There

Blockchain: A Very Short History Of Ethereum Everyone Should Read

Blockchain: A Very Short History Of Ethereum Everyone Should Read

Blockchain: A Very Short History Of Ethereum Everyone Should Read Opinions expressed by Forbes Contributors are their own. Even those who are not familiar with blockchain are likely to have heard about Bitcoin, the cryptocurrency and payment system that uses the technology. Another platform called Ethereum, that also uses blockchain, is predicted by some experts to overtake Bitcoin this year. Ethereum is an open-source public service that uses blockchain technology to facilitate smart contracts and cryptocurrency trading securely without a third party. There are two accounts available through Ethereum: externally owned accounts (controlled by private keys influenced by human users) and contract accounts. Ethereum allows developers to deploy all kinds of decentralized apps. Even though Bitcoin remains the most popular cryptocurrency, its Ethereums aggressive growth that has many speculating it will soon overtake Bitcoin in usage. While there are many similarities between Ethereum and Bitcoin, there are also significant differences. Here are a few : Bitcoin trades in cryptocurrency, while Ethereum offers several methods of exchange, including cryptocurrency (Ethereums is called Ether), smart contracts and the Ethereum Virtual Machine (EVM). They are based on different security protocols : Ethereum uses a "proof of stake" system as opposed the "proof of work" system used by Bitcoin. Bitcoin allows only public (permissionless or censor-proof) transactions to take place; Ethereum allows both permissioned and permissionless transactions. The average block time for Ethereum is significantly less than Bitcoins: 12 seconds versus 10 minutes. This translates into more block confirmations, which allows Ethereums miners to complete more blocks and receive more Ether. It is estimat Continue reading >>

Ethereum: Everything You Want To Know Aboutgas

Ethereum: Everything You Want To Know Aboutgas

Gas keeps Ethereum Blockchain alive, thanks to it we can transfer Ether and other Ethereum tokens such as: GameCredits (GAME), OmiseGo (OMG) or Golem (GNT), it also allows to smart contracts to do their job. In this blogpost Im going to explain: what is Gas? how is it used? and why is it so important for the future of Ethereum? Important: Dont be misled by the Token named GAS which is something completely different. Ethereum blockchain is run by nodes that keep the blockchain state but also calculate new blocks. New blocks are needed to change Blockchains state e.g. move Ethereum from one account to another. Calculation of the new block is made by miners, to cover their effort transaction sender must pay a fee. Transaction fee depends on complexity of transaction sender wants to make, if its a regular send Ether transaction or more complex one like create smart contract (smart contract a special kind of the blockchain account, that can not only keep Ether but also computer program with its state). Sending Ether from one account to the other costs 21,000 Gas. On the other hand creating smart contract which is responsible for handling OmiseGo Token costed 1,197,977 Gas. So the more complex transaction, the more Gas we need to pay for its execution on Blockchain. Main complexity factors are: operations performed by the smart contracts code e.g. arithmetical operations data that is stored on blockchain e.g. storing information in the smart contract or updating an amount of Ether on the account We know more or less what Gas is, but how much does it cost? The answer is as always it depends. Each transaction sender (e.g. person who is sending Ether) is defining price of Gas for created transaction (e.g. 1 Gas = 0.000000001 ETH). If the price is high enough, transaction will b Continue reading >>

A Gentle Introduction To Ethereum

A Gentle Introduction To Ethereum

Ethereum builds on blockchain and cryptocurrency concepts, so if you are not familiar with these, its worth reading a gentle introduction to bitcoin and a gentle introduction to blockchain technology first. This article assumes the reader has a basic familiarity with how Bitcoin works. Ethereum is software running on a network of computers that ensures that data and small computer programs called smart contracts are replicated and processed on all the computers on the network, without a central coordinator. The vision is to create an unstoppable censorship-resistant self-sustaining decentralised world computer. The officialwebsite is Itextends the blockchain concepts from Bitcoin which validates, stores, and replicates transaction data on many computers around the world (hence the term distributed ledger). Ethereum takes this one step further, and also runs computer code equivalently on many computers around the world. What Bitcoin does for distributed data storage, Ethereum does for distributed data storage plus computations. The small computer programsbeing run are called smart contracts, and the contractsare run by participants on their machines using asort ofoperating system called a Ethereum Virtual Machine. To run Ethereum, you can download (or write yourself if you have the patience) some software called an Ethereum client. Just like BitTorrent or Bitcoin, the Ethereum client will connect over the internet to other peoples computers running similar client softwareand start downloading the Ethereum blockchain from them to catch up. It will also independently validate that each block conforms to the Ethereum rules. What does the Ethereum client software do? You can use itto: Create new transactions and smart contracts Your computer becomes a node on the network, r Continue reading >>

What Is Ether?

What Is Ether?

Ether is a necessary element a fuel for operating the distributed application platform Ethereum. It is a form of payment made by the clients of the platform to the machines executing the requested operations. To put it another way, ether is the incentive ensuring that developers write quality applications (wasteful code costs more), and that the network remains healthy (people are compensated for their contributed resources). If you just want to test the technology, you probably don't need real ether. Download the latest Wallet app and switch to the Test Network Check your ether presale balance safely here: The total supply of ether and its rate of issuance was decided by the donations gathered on the 2014 presale. The results were roughly: 60 million ether created to contributors of the presale 12 Million (20% of the above) were created to the development fund, most of it going to early contributors and developers and the remaining to the Ethereum Foundation 5 ethers are created every block (roughly 15 seconds) to the miner of the block 2-3 ethers are sometimes sent to another miner if they were also able to find a solution but his block wasn't included (called uncle/aunt reward) Note that after the Byzantium update is implemented, the mining and uncle reward is reduced to 3 ethers and 0.625-2.625 ethers, respectively. No. According to the terms agreed by all parties on the 2014 presale, issuance of ether is capped at 18 million ether per year (this number equals 25% of the initial supply). This means that while the absolute issuance is fixed, the relative inflation is decreased every year. In theory if this issuance was kept indefinitely then at some point the rate of new tokens created every year would reach the average amount lost yearly (by misuse, accidental key Continue reading >>

What Are Mining Rewards In Ethereum?

What Are Mining Rewards In Ethereum?

Mining Ether will start with the release of the Frontier platform. The Olympics test beforehand had no value attributed to the Ether which was mined and all balances at the Ether launch were set back to the close of the Fundraising so even if you had transferred our Ether on the testnet after contributing to your fundraise you will keep the Ether on the launch of the Frontier platform. The proof of work in Ethereum is run through Ethash . The successful PoW miner will receive a static block reward that is equal to 5 Ether. The successful miner will also receive all the gas in fees that it generates from the transactions in the block that it verifies. As time goes on and the amount of Ether created grows it is expected that gas rewards will take the lions share of mining rewards. The miner will also receive an award of 1/32 per Uncle block included. Uncles are stale blocks with parents that are a maximum of six blocks back from the present block. Valid Uncle blocks are rewarded to halt network lag (time to propagate a valid block to the whole network). Uncles included in a block receive 7/8 of the static block reward or 4.375 Ether- with a maximum of 2 Uncles allowed per block. After you have mined some ether you will need somewhere to store it and you can choose the best place here with our ethereum wallet comparison page. Continue reading >>

Explaining The Genesis Block In Ethereum

Explaining The Genesis Block In Ethereum

Every blockchain has to start somewhere, so theres whats called a genesis block at the beginning. This is the first block, and in it the creators of Ethereum were at liberty to say To start, the following accounts all have X units of my cryptocurrency. Any transfer of that ether on the blockchain will have originated from one of these initial accounts (or from mining). Every time we launch Ethereum, we actually recreate this genesis block from scratch. Syncing the blockchain with peers only begins at block 1. The genesis block is created using the genesis state file or genesis.json in Geth. This file contains all the data that will be needed to generate block 0, including who starts out with how much ether. Heres an example of a custom genesis state file that initializes this block. // genesis.json{ "alloc": { "0xca843569e3427144cead5e4d5999a3d0ccf92b8e": { "balance": "1000000000000000000000000000" }, "0x0fbdc686b912d7722dc86510934589e0aaf3b55a": { "balance": "1000000000000000000000000000" } }, "config": { "chainID": 68, "homesteadBlock": 0, "eip155Block": 0, "eip158Block": 0 }, "nonce": "0x0000000000000000", "difficulty": "0x0400", "mixhash": "0x0000000000000000000000000000000000000000000000000000000000000000", "coinbase": "0x0000000000000000000000000000000000000000", "timestamp": "0x00", "parentHash": "0x0000000000000000000000000000000000000000000000000000000000000000", "extraData": "0x43a3dfdb4j343b428c638c19837004b5ed33adb3db69cbdb7a38e1e50b1b82fa", "gasLimit": "0xffffffff"} Lets break down some of the fields in the genesis state file. If you find this post useful, I encourage you to follow my Twitter account, where I post more tutorials and low-level explanations. The config struct in genesis.json has to do with setting configuration variables for Ethereum, and ha Continue reading >>

How Many Ethereum Blocks Are Mined In A Day?end And Startblock Specification

How Many Ethereum Blocks Are Mined In A Day?end And Startblock Specification

solidity blockchain contract-deployment tokens ico there is a function in many ico contracts that allow people to adjust their allow purchase and disable purchase functions according to the current block height, basically a function that opens an ICO and closes it due to block height, but how do the contract deployers know how many blocks are mined everyday? Doesn't this change every week? How do they know to the exact minute when their ICO will end and when it will start? Continue reading >>

How To Read An Ethereum Transaction

How To Read An Ethereum Transaction

Last updated on October 30th, 2017 at 08:01 am Although 99Bitcoins has been around for a while, it just occurred to me that weve never really covered the basics of Ethereum transactions even though weve discussed Ethereum itself. So this post is aimed at all of the Ethereum newbies out there: lets understand how to read an Ethereum transaction. The first thing youre going to need in orderto read a transaction is an Ethereum block explorer. A block explorer is a search engine that allows you to search inside the Ethereum blockchain for transactions, addresses, and other interesting information. In this case, well use EtherScan , one of the most popular Ethereum block explorers out there today. Lets take a look at a random Ether transaction via EtherScan. Now lets break down the data that are displayed: TxHash Also known as the transaction ID, TxHash is a way to look up a specific transaction on the Ethereum blockchain. Block Height The block number in which the transaction was included (for an in-depth explanation of blocks, watch this video ) Time Stamp The time the transaction entered the blockchain (i.e., the time the block was mined) From/To The sending and receiving Ethereum addresses Value How much Ether was sent and the equivalentUSD value Before we move to the rest of the terms, lets look at a short explanation of gas. Gas in Ethereum is somewhat similar to transaction fees in Bitcoin . Each operation on the Ethereum network requires a fixed amount of gas (adding two numbers costs 3 gas, calculating a hash costs 30 gas, and sending a transaction costs 21,000 gas, for example). Gas is paid in Ether, but you cant own gas. Its just calculated at a fixed gas/ether exchange rate when you send a transaction on the Ethereum blockchain. Well talk more about gas in a dif Continue reading >>

Glossary Ethereum/wiki Wiki Github

Glossary Ethereum/wiki Wiki Github

See also: Computational infeasibility: a process is computationally infeasible if it would take an impracticably long time (eg. billions of years) to do it for anyone who might conceivably have an interest in carrying it out. Generally, 280 computational steps is considered the lower bound for computational infeasibility. Hash: a hash function (or hash algorithm) is a process by which a piece of data of arbitrary size (could be anything; a piece of text, a picture, or even a list of other hashes) is processed into a small piece of data (usually 32 bytes) which looks completely random, and from which no meaningful data can be recovered about the document, but which has the important property that the result of hashing one particular document is always the same. Additionally, it is crucially important that it is computationally infeasible to find two documents that have the same hash. Generally, changing even one letter in a document will completely randomize the hash; for example, the SHA3 hash of "Saturday" is c38bbc8e93c09f6ed3fe39b5135da91ad1a99d397ef16948606cdcbd14929f9d, whereas the SHA3 hash of Caturday is b4013c0eed56d5a0b448b02ec1d10dd18c1b3832068fbbdc65b98fa9b14b6dbf. Hashes are usually used as a way of creating a globally agreed-upon identifier for a particular document that cannot be forged. Encryption: encryption is a process by which a document (plaintext) is combined with a shorter string of data, called a key (eg. c85ef7d79691fe79573b1a7064c19c1a9819ebdbd1faaab1a8ec92344438aaf4), to produce an output (ciphertext) which can be "decrypted" back into the original plaintext by someone else who has the key, but which is incomprehensible and computationally infeasible to decrypt for anyone who does not have the key. Public key encryption: a special kind of encr Continue reading >>

How Ethereum Mining Works

How Ethereum Mining Works

Today, miners play an important role in making sure ethereum works. This role isn't immediately obvious, though. Many new users think that the sole purpose of mining is to generate ethers in a way that doesn't require a central issuer (seeour guide" What is Ether? "). This is true. Ethereum's tokens are created through the process of mining at a rate of 5 ether per mined block. But mining also has another at least asimportant role. Usually, banks are in charge of keeping accurate records of transactions. They ensure that money isn't created out of thin air, and that users don't cheat and spend their money more than once. Blockchains, though, introduce an entirely new way of record-keeping, one where the entire network, rather than an intermediary, verifies transactions and adds them to the public ledger. Although a 'trustless' or 'trust-minimizing' monetary system is the goal, someone still needs to securethe financial records, ensuring that no one cheats. Mining is one innovation that makes decentralized record-keeping possible. Miners come to consensus about the transaction history while preventing fraud (notably the double spending of ethers) an interesting problem that hadnt been solved in decentralized currencies before proof-of-work blockchains. Although ethereum is looking into other methods of coming to consensus about the validity of transactions, mining currently holds the platform together. Today, ethereum's mining process is almost the same as bitcoins . For each block of transactions, miners use computers to repeatedly and very quickly guess answers to a puzzle until one of them wins. More specifically, the miners will run the blocks unique header metadata (including timestamp and software version) through a hash function (which will return a fixed-length, Continue reading >>

What Is Ethereums Block Size? : Ethereum

What Is Ethereums Block Size? : Ethereum

Welcome to r/Ethereum , the front page of the Web 3. No inappropriate behavior. This includes, but is not limited to: personal attacks, threats of violence, gossip, slurs of any kind, posting people's private information. Keep price discussion and market talk, memes & exchanges to subreddits such as /r/ethtrader Keep plain ICO advertisements to subreddits such as r/ethinvestor . Keep mining discussion to subreddits such as /r/EtherMining . No creating multiple accounts to get around Reddit rules. English language only. Please provide accurate translations where appropriate. Posts and comments must be made from an account at least 10 days old with a minimum of 20 comment karma. Exceptions may be made on a discretionary basis. Continue reading >>

The Mystery Behind Blocktime

The Mystery Behind Blocktime

Identity Evangelist, Author, Blogger, Developer, Blockchain Enthusiast, Senior Director of Security Architecture at WSO2, Apache WS Committer, Axis PMC Member Block time defines the time it takes to mine a block. Both in bitcoin blockchain and ethereum blockchain, there is an expected block time, and an average block time. In bitcoin, the expected block time is 10 minutes, while in ethereum it is between 10 to 19 seconds. Both bitcoin and ethereum, at the time of this writing use a proof of work based distributed consensus algorithm (ethereum is planned to move to a proof of stake based algorithm with its serenity release). The expected block time is set at a constant value to make sure, miners cannot impact the security of the network by adding more computational power. The average block time of the network is evaluated after n number of blocks, and if it is great than the expected block time, then the difficulty level of the proof of work algorithm will be reduced, and if it is less than the expected block time then the difficulty level will be increased. Thats the core design principle behind block time, but you will see as we proceed, how bitcoin and ethereum differentiate themselves from each other. The level of difficulty varies with the time, as per the following formula. It tries to evaluate the speed of the mining network and find out how much it deviates from the expected level. The expectation is to mine a block in 10 minutes. For example, if the average speed of mining the last 2016 blocks is 8 minutes then the new difficulty factor will be greater than one, so the current difficulty level will be increased. In case the average is above 10 minutes, then the factor will be less than 1 and the difficulty level will be decreased for the next 2016 blocks. The d Continue reading >>

How Does Ethereum Work,anyway?

How Does Ethereum Work,anyway?

Odds are youve heard about the Ethereum blockchain, whether or not you know what it is. Its been in the news a lot lately, including the cover of some major magazines, but reading those articles can be like gibberish if you dont have a foundation for what exactly Ethereum is. So what is it? In essence, a public database that keeps a permanent record of digital transactions. Importantly, this database doesnt require any central authority to maintain and secure it. Instead it operates as a trustless transactional system a framework in which individuals can make peer-to-peer transactions without needing to trust a third party OR one another. Still confused? Thats where this post comes in. My aim is to explain how Ethereum functions at a technical level, without complex math or scary-looking formulas. Even if youre not a programmer, I hope youll walk away with at least better grasp of the tech. If some parts are too technical and difficult to grok, thats totally fine! Theres really no need to understand every little detail. I recommend just focusing on understanding things at a broad level. Many of the topics covered in this post are a breakdown of the concepts discussed in the yellow paper. Ive added my own explanations and diagrams to make understanding Ethereum easier. Those brave enough to take on the technical challenge can also read the Ethereum yellow paper. A blockchain is a cryptographically secure transactional singleton machine with shared-state. [1] Thats a mouthful, isnt it? Lets break it down. Cryptographically secure means that the creation of digital currency is secured by complex mathematical algorithms that are obscenely hard to break. Think of a firewall of sorts. They make it nearly impossible to cheat the system (e.g. create fake transactions, erase tr Continue reading >>

Solidity - How Many Ethereum Blocks Are Mined In A Day?end And Startblock Specification - Ethereum Stack Exchange

Solidity - How Many Ethereum Blocks Are Mined In A Day?end And Startblock Specification - Ethereum Stack Exchange

How many ethereum blocks are mined in a day?End and Startblock specification there is a function in many ico contracts that allow people to adjust there allow purchase and disable purchase functions according to the current block height, basically a function that opens an ICO and closes it due to block height, but how do the contract deployers know how many blocks are mined everyday? doesnt this change every week? How do they know to the exact minute when there ICO will end and when it will start? Continue reading >>

Number Of Blocks Mined Per Day Currently? : Ethereum

Number Of Blocks Mined Per Day Currently? : Ethereum

Welcome to r/Ethereum , the front page of the Web 3. No inappropriate behavior. This includes, but is not limited to: personal attacks, threats of violence, gossip, slurs of any kind, posting people's private information. Keep price discussion and market talk, memes & exchanges to subreddits such as /r/ethtrader Keep plain ICO advertisements to subreddits such as r/ethinvestor . Keep mining discussion to subreddits such as /r/EtherMining . No creating multiple accounts to get around Reddit rules. English language only. Please provide accurate translations where appropriate. Posts and comments must be made from an account at least 10 days old with a minimum of 20 comment karma. Exceptions may be made on a discretionary basis. Continue reading >>

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