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What Is A Ethereum Block?

Accounts, Transactions, Gas, And Block Gas Limits In Ethereum

Accounts, Transactions, Gas, And Block Gas Limits In Ethereum

Accounts, Transactions, Gas, and Block Gas Limits in Ethereum This article is meant to help people understand some of the basic mechanics behind accounts, transactions, gas, and the role miners play in setting the block size in Ethereum. Corrections are welcome :) There are two types of accounts in Ethereum can send transactions (ether transfer or trigger contract code), code execution is triggered by transactions or messages (calls) received from other contracts. when executed - perform operations of arbitrary complexity (Turing completeness) - manipulate its own persistent storage, i.e. can have its own permanent state - can call other contracts All action on the Ethereum block chain is set in motion by transactions fired from accounts. Every time a contract account receives a transaction, its code is executed as instructed by the input parameters sent as part of the transaction. The contract code is executed by the Ethereum Virtual Machine on each node participating in the network as part of their verification of new blocks. The term transaction is used in Ethereum to refer to the signed data package that stores a message to be sent from an externally owned account to another account on the blockchain. a signature identifying the sender and proving their intention to send the message via the blockchain to the recipient, VALUE field - The amount of wei to transfer from the sender to the recipient, an optional data field, which can contain the message sent to a contract, a GASLIMIT value, representing the maximum number of computational steps the transaction execution is allowed to take, a GASPRICE value, representing the fee the sender is willing to pay for gas. One unit of gas corresponds to the execution of one atomic instruction, i.e. a computational step. Contrac 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 >>

Blockchain - What Is A Block Hash? - Ethereum Stack Exchange

Blockchain - What Is A Block Hash? - Ethereum Stack Exchange

When we look at this block - what does the first number Hash: 0xfe88c94d860f01a17f961bf4bdfb6e0c6cd10d3fda5cc861e805ca1240c58553 "Nonce" is the value that is changed during mining, but what is hash? A function can be inversed, so surely a hash is not a function? user4880 Oct 27 '16 at 9:16 f(x) = 0 is a function and cannot be inversed.. this is not a valid statement. pfrank Dec 13 '17 at 2:32 The block header is the hash returned from generating a Merkle tree that is below the current difficulty target for the blocks data. In order to understand what the block header is you need to understand what a hashing function is. A hashing function is a one way(non invertible function) that maps a set of inputs to a set of outputs hash(s) -> p, where for our purposes s and p are both strings. For any string s we can find the hash by applying our hashing function, which will return a new string. This is a deterministic procedure in that given an s, the same hash() will produce the same p. There is no inverse of the hash operation, so you cannot go from output to input hash^-1(p) -> s. A hash function will ideally map the domain uniformly over the range such that any input that is in the domain will have a pretty even probability of being anywhere in the range vs more likely to be in a certain section. You use hashing operations for many different applications from data storage and lookup to logging into any password protected environments. It is also used to verify the integrity of data. Lets say you have a large file F. You can take the hash of the file by converting it to a string and then taking the hash of it, hash(F) -> G. G will be a string representation of (in this case) a 5 digit hexadecimal number(hashes like sha give you 40 digit hex numbers), lets say 0x5a3b1. Now som 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 >>

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 >>

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 >>

Blockchain - Ethereum Block Architecture - Ethereum Stack Exchange

Blockchain - Ethereum Block Architecture - Ethereum Stack Exchange

Where can I find a description (preferably a diagram like below) showing the block structure in an Ethereum blockchain? Lets first start with my adaptation adaptation of this figure illustrating the Bitcoin block structure: Enter Ethereum and things get a wee bit more complex. After reading through this and this , and as per @ eth 's recommendation this , my best interpretation is the figure below: The header field definitions are available in section 4.3 of the yellow paper . Uncles is a hash (of a list of uncles), Yellow Paper has: "The Keccak 256-bit hash of the ommers list portion of this block". Codehash is just a hash since contracts are immutable. The pointers point to "hash of whole block header" (the Keccak-256 hash of all the bytes in the block header). To have a full diagram, should really consult the Yellow Paper... eth Jan 29 '16 at 22:53 Updated response after consulting the YP. Starting to get clearer now. Thanks! zanzu Feb 1 '16 at 12:34 Why are the transactions from block N linked to those of block N+1? Sebi Jun 10 '16 at 8:31 These links correspond to contract state that has not changed in between blocks. Referencing the state from the previous blocks instead of replicating is more efficient from a block size perspective. zanzu Jun 10 '16 at 9:49 Continue reading >>

Ethereum: What Is Ethereum Mining? - The Economic Times

Ethereum: What Is Ethereum Mining? - The Economic Times

The maximum number of bitcoins are capped at 21 million while the total ether supply has no such cap Ethereum mining is fundamentally similar to bitcoin mining. Both use proof of work (PoW). PoW is a competitive activity that miners undertake to write transactions to a new block that will be added to the blockchain . A miner successfully mines a new block while competing with fellow miners by running a hashing script. Karan Bharadwaj, CTO of XinFin said, The specific scripts used in mining for bitcoin and ethereum are SHA-256(based script) and Ethash. Each block mined on ethereum also gives a payout of 5 ether to the miner. The bitcoin payout per block mined is 12.5 BTC that is set to halve to 6.25 in 2020. The maximum number of bitcoins are capped at 21 million while the total ether supply has no such cap. The developers behind the ethereum blockchain are working on shifting the mining algorithm from Proof of Work to Proof of Stake (PoS). PoS allows for the creation of new blocks with the expensive process of PoW mining. In PoS, each node participates in the consensus mechanism in a proportional manner to the stake (of the Ethereum blockchain) held by it, said Bharadwaj. With this shift to PoS, the block reward goes away and the miners are paid only in the form of transaction fees. This shift to PoS is going to remove the wasteful energy intensive process of mining while introducing additional security benefits to an already robust protocol. However, it is important to note that this is a very challenging implementation and not without complications. Rachit Chawla, CEO, Finway Capital said, Somewhat similar to bitcoin, Ethereum is also a popular cryptocurrency and ethereum mining is the process of mining ether; platform-specific cryptographic token, or simply, a uniqu Continue reading >>

Params In Ethereum Genesis Block Explained

Params In Ethereum Genesis Block Explained

Params in Ethereum Genesis Block Explained Ark / Blockchain / Params in Ethereum Genesis Block Explained Developers all over the world are experimenting with Ethereum blockchain and many of them find Ethereum testnet hard to use. Because of that, you may want to set up your private blockchain network. You would have full control over that network, and would not have any blockchain apps that you dont need. So if you want to have a clear blockchain setup only for yourself, there are a couple of things you have to define. One of them is genesis.json, a file in which you determine all specifications about genesis block of your blockchain. So, what exactly is genesis block? Genesis block is the first block of a blockchain. Since its the first block, it does not reference a previous block and has to be hardcoded into the configurations. Its not so hard to setup everything, but its a little bit harder to understand what you are doing. Been there, done that. In this article we will try to explain params that you have to define for you genesis block. That way we can help the community to use a blockchain with more understanding, which will result in better apps and development community. Here is an example of genesis block which you can find in Ethereum documentation. We will explain all those params, one by one. Lets start with an exciting part. config Its not a required param and we can remove it from genesis.json, but we added it in this example to let you know that it exists. If you are creating your private blockchain, you dont need the last three params so just set them to 0. The first param chainId is a unique identificator of the chain so you can set it to any number, or just leave it as 0. nonce Its a 64-bit string hash, this string is used in combination with mixhash. Continue reading >>

What Is Ethereum? A Step-by-step Beginners Guide

What Is Ethereum? A Step-by-step Beginners Guide

If you want to know what is Ethereum and how it works and what it can be used for, without going deep into the technical abyss, this guide is perfect for you. Important Note: This guide assumes a basic understanding of blockchain technology. If youre unfamiliar with blockchain, check out this step by step introduction for beginners . Beyond Bitcoin & first generation decentralized applications Although commonly associated with Bitcoin , blockchain technology has many other applications that go way beyond digital currencies. In fact, Bitcoin is only one of several hundred applications that use blockchain technology today. [Blockchain] is to Bitcoin, what the internet is to email. A big electronic system, on top of which you can build applications. Currency is just one. Sally Davies, FT Technology Reporter Until relatively recently, building blockchain applications has required a complex background in coding, cryptography, mathematics as well as significant resources. But times have changed. Previously unimagined applications, from electronic voting & digitally recorded property assets to regulatory compliance & trading are now actively being developed and deployed faster than ever before. By providing developers with the tools to build decentralized applications, Ethereum is making all of this possible. At its simplest, Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications. Is Ethereum similar to Bitcoin? Well, sort of, but not really. Like Bitcoin , Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capabil 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 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 >>

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 >>

Uncle Block (cryptocurrency)

Uncle Block (cryptocurrency)

BREAKING DOWN 'Uncle Block (Cryptocurrency)' A blockchain is formed by a growing chain of blocks that store details of the various transactions occurring on the blockchain network. Miners continue to mine for the new blocks following the standard mining process implemented by the blockchain. The newly found block is appended to the blockchain after verification, and the miner who found this new block is entitled to the block reward . The block height , which indicates the length of the blockchain, increases after the addition of the new block. However, at times,two different miners may generate a block simultaneously. This happens due to the working mechanism of the blockchain, which may not accept the newly identified blocks into the blockchain instantaneously. Due to this delay, a situation arises where another miner solves for the same exact block and tries to add it to the network chain. It results in a temporary yet dubious state of the blockchain network, as the various nodes try to build a consensus about which of the newly identified blocks to continue with, and which one to be rejected. The rejected ones are those which have a relatively lower share of proof of work (POW) and constitute the uncle blocks, while the ones with the larger share join the blockchain and work as a normal block. The name uncle is based on the lines of a family tree. Consider the blockchain as a family tree, with accepted blocksthe genuine"parent-child" in the tree. However, an uncle, though very close to the parent, isnt really a part of the nuclear family, hence related but separate from the family, or blockchain. Unlike the Bitcoin network which does not reward for orphan blocks, Ethereum incentivizesuncle block miners. Valid uncle blocks are rewarded in order to neutralize the effe 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 >>

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