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What Is Stored On The Ethereum Blockchain

How To Buy & Store Ethereum The Newbie Guide

How To Buy & Store Ethereum The Newbie Guide

If youre new to the crypto-currency space, you may find the idea of how to buy and store Ethereum is quite disconcerting. Youre not wrong, it might be confusing. The good news is, youre in the right place! First, you need to understand Ethereum you can start over here . Now that you are sure you want to buy some Ethereum, lets explore your options. WHERE AND HOW TO BUY ETHEREUM WITH FIAT CURRENCY There are several ways you can purchase Ethereum directly with fiat currency such as USD, EUR or GBP. All you need is a debit or credit card or just a bank account that facilitates international transfers. You simply register an account on one of the recommended exchange platforms below, verify your identity, add a method of payment and youre good to go to buy some Ether. I will discuss how to store your Ether safely below. The verification process that you have to go through in order to buy Ethereum takes now much quicker that it used to and the purchasing process is slowly becoming hassle-free. Just two years ago, you had to take extreme measures to buy Ether. For example, you had to purchase Bitcoin first; then create an ETH wallet; then convert your BTC to ETH seems like its not too complicated, but then you would have to reverse this process if you wanted to convert your Ether into fiat currency. All these conversions would have costed you dearly in transaction and exchange fees (and of course time!) Now, all you have to do is just open an account on one of these recommended exchange platforms to purchase your ETH: The most popular choice is Coinbase as it allows to use your credit card to buy Ethereum directly on the website. Coinbase is a major crypto-currency exchange that offers other services as well. Apart from Ether, you can purchase Bitcoin and Litecoin you can al Continue reading >>

Blockchain Bloat: How Ethereum Is Tackling Storage Issues

Blockchain Bloat: How Ethereum Is Tackling Storage Issues

Blockchain Bloat: How Ethereum Is Tackling Storage Issues Jan 18, 2018 at 05:22 UTC|UpdatedJan 24, 2018 at 02:53 UTC 24,270 tokens. 27,358 pending transactions. 463,713 digital kittens . Ethereum has hosted a lot of activity recently, and while many crypto enthusiasts see that as a positive sign, as the network's usage soars, its history gets longer and its blockchain more unruly. And although network congestion leading to transaction backlogs and rising fees has taken the spotlight, there's another issue this scale causes - a growing database that puts significant storage costs on users wanting to run a full node. That database, called the ethereum state, hold all the computations that need to be memorized by the computers supporting the platform and the ethereum blockchain itself. And with the costs (both in time and money) of storing the state increasing, fewer and fewer people are choosing to run full nodes, which many worry will centralize the network into the hands of only a few arbitrators. For one thing, ethereum developers are well underway engineering protocol-level changes such as sharding , aimed at minimizing the database. But since these technologies are still in development, other stakeholders, namely those running ethereum clients - the software needed for users to communicate with the blockchain - have been under fresh pressure to cope with the growth of the state database. "The fact that improving this stuff is critical has been known since late 2016, the ideas have been floating around for half a year to over a year. Where are the implementations?" said ethereum creator Vitalik Buterin on a developer channel recently. The frustration is palpable with both Buterin and Afri Schoedon, who manages technical communications at ethereum software client prov 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 >>

Off-chain Data Storage: Ethereum &ipfs

Off-chain Data Storage: Ethereum &ipfs

function read() public view returns (bytes) { Ive deployed this contract on Rinkeby test net and generated 1024 of random bytes using then stored 1kB of data using the write function. The resulting transaction can be seen here: The Gas used amounted to 754,365 @ 20Gwei Gas price = 0.0150873 Ether. At the time of writing this post (Oct 17, 2017) the Ether price is currently 328.79 USD/ETH. So storing 1kB of data would have cost $4.96 to run on the Ethereum Main Net. That means ~ 5 Million USD / GB! Saving a few bytes to the EVM is ok but for larger chunks of data the costs are probably too high for most projects. One solution is to modify our data storage strategy and save the data off-chain (as opposed to the on-chain approach we took above). There are multiple off-chain storage options: IPFS and Swarm are 2 popular ones. Ill use IPFS in this post but Swarm works equally well. Looking at the wikipedia article on IPFS: InterPlanetary File System (IPFS) is a protocol designed to create a permanent and decentralized method of storing and sharing files IPFS allows p2p storage and we can use it as a distributed file system to store data. Saving data on IPFS provides a unique hash. Instead of storing the data on the contract, well only store the hash on the contract and then we can use the hash to retrieve the data. In production wed need to create our own IPFS node, but INFURA provides a node for developers which we can use for free. Here is a js snippet you can try out on to save data to IPFS: const ipfs = new IPFS({host: ipfs.infura.io, port: 5001, protocol: https}); const randomData = 8803cf48b8805198dbf85b2e0d514320; // random bytes for testing and this should return our data: 8803cf48b8805198dbf85b2e0d514320 One remark is that the hash string size is independent of the Continue reading >>

Where And How Application Data Is Stored In Ethereum?

Where And How Application Data Is Stored In Ethereum?

Where and how application data is stored in Ethereum? Ethereum can host decentralized applications, DAPPs. These applications exist through small programs that live on the Blockchain: Smart Contracts. But when I write a Smart Contract, where is my application data Stored? We want to understand how data storage works before working on this platform. Code execution, servers and programming language are rarely critical to the design of an application. But the Data, its structure, and its security will constrain most of our design. Lets imagine we are porting apps to Ethereum: For a Facebook-like, where are the publications and comments data? For a Dropbox-like, where are my private files? Or for a Slack-like chat app, where do we store discussion channels? What about Private Messages? Were going to forget about the Blockchain for a minute: we already know its a machine that generates Consensus . We can forget the Blockchain and assume that Ethereum is a big, slow, reliable, computer. Were looking at the Ethereum System from a higher level of abstraction: the Software part. Ethereum holds a set of accounts. Every account has an owner and a balance (some Ether). If I prove my identity, I can transfer Ether from my account to another. The money will flow from one account to the other. Its an atomic operation called a Transaction. The Ethereum Software is a Transaction Processing System: 1. We have a state: the set of all accounts and their balance, 3. We get a new state: an updated set of accounts and their balances. Today we look into the ability to execute code and programs within a transaction. Thats where Smart Contracts come into play. Every account has an owner and a balance. But some of these accounts are special; they own themselves. At creation time, we give them a Continue reading >>

What Kind Of Data Is Stored In The Ethereum Blockchain?

What Kind Of Data Is Stored In The Ethereum Blockchain?

What kind of data is stored in the Ethereum blockchain? All data on the blockchain is in the form of transactions. Simple transactions, like sending money from address to address, has only the bare essentials of details. Some transactions carry more information, like the bytecode for an entire smart contract. In this way, the blockchain also carries code and the details of transactions that called that code. People also have to he right to stick whatever data they want into a transaction, so someone out there could be using the blockchain as a data store. To see the atomic details of a transaction, check out this tutorial . Continue reading >>

Marriage Smart Contract On Ethereum

Marriage Smart Contract On Ethereum

I got the inspiration to make this page because of a tweet from Joseph Lubin after I posted about my 1 year wedding anniversary. I am storing data immutably to the Ethereum blockchain. This is an example of a proof-of-existence application of blockchains that is very important. Blockchains, when properly designed, provide a way to permanently store data with an un-hackable audit trail. On the Ethereum blockchain, users create smart contracts to store and manipulate data. Smart contracts are permanently on the Ethereum blockchain and contain their own storage. Whenever the internal contract storage is changed, the blockchain updates the smart contract data, while still maintaining a history of the previous data. Cool, huh? View smart contract on the Ethereum blockchain Continue reading >>

Eli5: Storage In The Ethereum Blockchain : Ethereum

Eli5: Storage In The Ethereum Blockchain : Ethereum

As I brainstorm about Ethereum contracts I might want to build, I keep getting mentally stuck when it comes to storage. How many bytes can one realistically store in the blockchain? A few kb? A few Mb? What are the limiting factors? Gas? Contract size? Does the storage need to be "accessed" or is it always visible for everyone to see with a blockchain explorer? EDIT: Thanks for the responses. However, no one has answered "Does the storage need to be "accessed" or is it always visible for everyone to see with a blockchain explorer?" yet. Continue reading >>

Where Do Decentralized Applications Store Their Data?

Where Do Decentralized Applications Store Their Data?

Where do decentralized applications store their data? Now there is a boom in blockchain projects. Some blockchains are so powerful that they claim to be a platform for building applications on top of them. Applications automatically turn out to be decentralized, resistant to censorship and blocking. But is everything so good and simple? In this article, we will try to look at the blockchain as a platform for applications, taking off the rose-colored glasses. Blockchain (chain of blocks) is an immutable data structure consisting of a list of blocks where each next block contains a hash of the previous block. As a result of this hashing, the chain of blocks becomes unchanged: you can not change or delete a block from the middle of the chain without rebuilding all the blocks above, because the slightest change will require a rebuild (recalculating hashes) of all blocks above the changed one. If the calculation of the hash of each block is computationally or economically complex operation, then the data change in the middle of the chain becomes practically impossible at all. The combination of the new block hash calculation complexity, as well as the ease of checking the correctness of the hash, provides blockchain with a serious resistance to unsanctioned changes. This is what holds the safety of bitcoin and other blockchains. Thanks to this, blockchain projects can be publicly decentralized. That is, anyone can put the working node of the blockchain and generate new blocks. In most implementations of the blockchain for the generation of a block a reward is given - this process is called mining. And since it is difficult to mine, and your results can be easily verified, it is profitable to act only honestly. Otherwise, you will spend resources on mining, and other miners Continue reading >>

Introduction To Smart Contracts

Introduction To Smart Contracts

Let us begin with the most basic example. It is fine if you do not understand everythingright now, we will go into more detail later. pragma solidity ^0.4.0;contract SimpleStorage { uint storedData; function set(uint x) public { storedData = x; } function get() public constant returns (uint) { return storedData; }} The first line simply tells that the source code is written forSolidity version 0.4.0 or anything newer that does not break functionality(up to, but not including, version 0.5.0). This is to ensure that thecontract does not suddenly behave differently with a new compiler version. The keyword pragma is called that way because, in general,pragmas are instructions for the compiler about how to treat thesource code (e.g. pragma once ). A contract in the sense of Solidity is a collection of code (its functions) anddata (its state) that resides at a specific address on the Ethereumblockchain. The line uint storedData; declares a state variable called storedData oftype uint (unsigned integer of 256 bits). You can think of it as a single slotin a database that can be queried and altered by calling functions of thecode that manages the database. In the case of Ethereum, this is always the owningcontract. And in this case, the functions set and get can be used to modifyor retrieve the value of the variable. To access a state variable, you do not need the prefix this. as is common inother languages. This contract does not do much yet (due to the infrastructurebuilt by Ethereum) apart from allowing anyone to store a single number that is accessible byanyone in the world without a (feasible) way to prevent you from publishingthis number. Of course, anyone could just call set again with a different valueand overwrite your number, but the number will still be stored in the Continue reading >>

Storing Medical Records On The Ethereum Blockchain Healthcare In America

Storing Medical Records On The Ethereum Blockchain Healthcare In America

Building a Foundation for the Decentralized Web Storing Medical Records On The Ethereum Blockchain Heres an uncontroversial take: medicine in the United States is fucked. Not so much regarding the actual treatment of patients, but more the bureaucracy surrounding (and often impeding) treatment of those patients. Whether you believe in medical deregulation or single-payer nationalized health insurance, the current system blows, as 54% of Americans are dissatisfied with a healthcare industry that often puts the onus on individuals to coordinate their own care. Unsurprisingly, much of the conversation about healthcare in the United States revolves around health insurance and cost. Insurance and procedure/drug costs are enormous enormous factors in the quality and availability of the care people receive. However, in looking to improve the efficiency and equity of flawed systemssomething toward which I imagine the blockchain community is particularly inclinedit is important to examine smaller, less obvious routes toward managing and improving the system as a whole. TL; DR: We should all put medical records on the blockchain (eventually). But how would storing medical records on the blockchain work? What purpose would it serve? And, is it even possible? Right now, the truth is we dont really know what Ethereum can do. A lot of very impressive people believe the network and its underlying blockchain technology will revolutionize the way we lead our livesperhaps even save the world. Of course, that will take time. As of right now, storing information on the Ethereum blockchain is very expensive. Just in case youre new, or need a quick review, heres why: Most people think of ether as a currency, like dollars or even Bitcoin, but it is also possible to think of ether as the fuel Continue reading >>

Is Blockchain Technology Really The Answer To Decentralized Storage?

Is Blockchain Technology Really The Answer To Decentralized Storage?

Is Blockchain Technology Really the Answer to Decentralized Storage? Blockchain is extraordinary technology, but may not be appropriate for storing large files, other data. The Blockchain has become much more than a simple piece of technology. It has become a symbol for freedom, transparency and fairness. With this being said, its no wonder we see projects leveraging Blockchain tech as a one-size-fits-all tool to solve all sorts of problems, many of which could not be further from the original purpose of the Blockchain. Nowadays, the words Blockchain technology are thrown around alot and sometimes the use of the technology itself is unnecessary. Tim Swanson, Director of Market Research at R3CEV has even coined the term " chain washing "to describe companies/startups that are using or trying to use Blockchain technology in certain areas when in fact, they could be using more advanced technology for the purpose at hand. This becomes especially evident when it comes to file and data storage. Although the Bitcoin Blockchain is basically a decentralized database for transactions, accounts and balances, keeping that information on a decentralized ledger is already proving to be a challenge due to capacity issues. Nevertheless, several projects and companies insist on looking at Blockchain-based solutions for storage and, while there are clear cases of misguided enthusiasm when it comes to the use of Blockchain technology, there are some projects out there that are worth taking a look at. Blockchain Technology as an Incentive Layer When it comes to a mutualistic relation between Decentralized Ledger Technology (DLT) and data storage, the most common use case for the Blockchain is as an incentive layer. This means that data isnt stored on the Blockchain itself, but the network Continue reading >>

Blockchain Wallet Adds The Ability To Exchange And Store Ether

Blockchain Wallet Adds The Ability To Exchange And Store Ether

Blockchain Wallet Adds the Ability to Exchange and Store Ether On August 17 the popular bitcoin wallet platform, Blockchain , has announced it will be adding support for another digital currency. The Blockchain startup revealed to news.Bitcoin.com the platform would be adding ethereum functionality to its popular consumer wallet. Also read: Goldman Sachs Technical Analyst Predicts Bitcoins Top Is $4800 Blockchain Wallet Adds Ethereum Functionality The startup Blockchain is one of the oldest bitcoin service providers in the industry, founded in 2011. The company has provided over 16 million wallets for bitcoiners across 140 countries. Now the firm is adding ethereum to its popular consumer wallet, and users will be able to exchange between both bitcoin and ether through a partnership with Shapeshift . With the addition of ether, the company wants customers to explore a different digital asset while remaining comfortable with the Blockchain wallet security. As popularity of Ethereum has grown, so has the desire from our customers to have the option to manage multiple digital assets within their Blockchain wallets, explains Peter Smith, CEO of Blockchain. We are thrilled to introduce this new functionality to our community and will continue to find ways to make interacting with digital assets even easier. Blockchain wallet user interface allows ether and bitcoin exchange through Shapeshift. Toggling Between Bitcoin and Ether in a Simple Manner The company Blockchain believes multiple accounts can be a challenge for consumers, but says its platforms dashboard management is easy. Blockchain wallets have always been non-custodial which gives customers the ability to hold their own private keys. The firm says with the latest ethereum integration, the platform offers a consist Continue reading >>

Storj - Decentralized Cloud Storage

Storj - Decentralized Cloud Storage

"Storj is like an Internet filesystem. Data blocks are encrypted and distributed across a globally distributed set of storage nodes using block-chain algorithm. It is quite impressive and much needed innovation in the storage space." "Decentralized file storage systems like Storj have the potential to eliminate high markup costs and market inefficiencies and provide a much higher level of privacy, reliability and quality of service than we see today." "The power of the Storj platform is its unique ability indiscriminately utilize the free capacity of a storage node, whether a single end-user PC or a massive data center. Storj is bringing an unprecedented degree of efficiency to globally distributed data storage." "Storj is a unique market phenomena. It sets new standards of unit economics for distributed data storage." "As a seed investor, we were more than happy to join the next round for Storj with a great line up of co-investors. We want storing files to be cheaper, faster and more secure and the progress the team has made towards that mission has been phenomenal to watch. We are looking forward to putting more and more of our documents on the Blockchain thanks to Storj." Continue reading >>

Forever Isnt Free: The Cost Of Storage On A Blockchain Database

Forever Isnt Free: The Cost Of Storage On A Blockchain Database

Internet Policy Intern at IPDB Foundation. Forever Isnt Free: The Cost of Storage on a Blockchain Database Cloud storage services work as follows: You pay a monthly fee up front for a fixed amount of storage space. During the paid time, you can use any amount of storage space up to that limit. When your paid time expires, you have two choices: pay for another month or your files get deleted. Your cloud provider only keeps your files for as long as you keep paying. Blockchain databases cant work on this model. A blockchain database must store data indefinitely, so the recurring payment model doesnt work. Data storage costs must be paid up front, and must cover not just that month but all the months and years to come. IPDB has developed a sustainable model for the long term storage of data: a one time, up-front payment that covers the cost of indefinite data storage. The payment must be enough to cover the cost of storage and the IPDB Foundations operating expenses. This blog post is a deep dive into the numbers that led to a single per-GB price point the cost of storing data indefinitely in a blockchain database. This kind of analysis has been lacking in the hype around blockchain technology. There are many problems that could be addressed with blockchain technology, but without an understanding of what a blockchain solution will cost, it is impossible to say whether economic efficiencies can be achieved. This post is a first step toward understanding which use cases could truly benefit from the application of blockchains. Before we dive into the model, lets outline some of our underlying assumptions: Conservative predictions: As a general rule, we have tried to keep estimates and assumptions very conservative. We would rather have happy surprises than unhappy surprises Continue reading >>

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