Others Ethereum (ETH) Basics

tonyzzz · Jun 19, 2023

What is Ethereum?
Ethereum is an open source blockchain platform that allows for automated and securely verified transactions on the internet. This is called a smart contract

History of formation and development of Ethereum (ETH)
2013: Vitalik Buterin proposed an improved solution for the Mastercoin project, but it was not applied. He researched and perfected the whitepaper outlining Ethereum.
2014: Vitalik's partner Gavin Wood publishes the Yellowpaper for Ethereum and Vitalik confirms Ethereum will be further developed by the Ethereum Foundation.
2015: The first block of Ethereum was successfully mined, marking the official milestone of the establishment of the Ethereum Blockchain.
2016: Ethereum had an Ethereum Hard Fork and The DAO was Hacked, leading to the split of Ethereum into two coins, Ethereum and Ethereum Classic.

How Ethereum virtual currency works
To better understand how Ethereum works, participants need to understand more about blockchains and how they work, as well as how ETH prices work in the market. Since Ethereum's blockchain is like every other blockchain, they are created by networks of computers called Nodes.

To be able to participate in Ethereum networks, Nodes need Ethereum Client software such as: Parity, Geth, etc. Once installed, Nodes must run a virtual machine program called Ethereum Virtual Machine (EVM).

EVM takes care of the execution of smart contracts on the Ethereum network. When developers want to build decentralized applications (DApps) on Ethereum, they have to implement smart contracts using the Solidity programming language.

EVM is a virtual machine that performs operations such as transaction orders and smart contracts on the Ethereum network. To activate this network operation requires a fee called gas, in Ethereum this fee will be paid in Ether

Synthesize Ethereum's Token Standard
Ethereum tokens are digital assets developed using the ERC (Ethereum Request for Comments) standard that provides common rules for easier and more efficient deployment of tokens on the Ethereum network.

ERC20 Standard: This is a general rule proposed by Vitalik Buterin in 2015 to help developers easily deploy Fungible Tokens on the Ethereum platform.
ERC721 Standard: A set of standards for the issuance of Non-Fungible Tokens (NFTs) proposed in 2018.
ERC1155 Standard: A combination of ERC20 and ERC721 for Non-Fungible and Fungible tokens.
ERC777 Standard: An improvement of the ERC20 standard, which improves security and flexibility issues in the management of tokens on the Ethereum network.

Advantages and disadvantages between ETH and Bitcoin
Ethereum (ETH) and Bitcoin (BTC) are the two most popular cryptocurrencies in the crypto market and are used in forex trading. Here are some advantages and limitations of each of these coins:

Intended use: Bitcoin is designed as a peer-to-peer electronic payment system. Meanwhile, Ethereum is designed as a platform for developing decentralized applications (DApps) and smart contracts (smart contracts) on the blockchain.
Total Supply: Bitcoin has a fixed total supply of 21 million BTC, while Ethereum has no fixed total supply.
Algorithm: Both threads have the same consensus mechanism, the difference is that Bitcoin uses algorithm (SHA-56) and Ethereum uses Ethash algorithm.
Transaction speed: Ethereum has a faster processing speed than Bitcoin, with the ability to handle 20 to 25 transactions per second, while Bitcoin can only handle about 7 transactions per second.

rekuxqw1 · Jun 20, 2023

tonyzzz said:
What is Ethereum?
Ethereum is an open source blockchain platform that allows for automated and securely verified transactions on the internet. This is called a smart contract

View attachment 94357

History of formation and development of Ethereum (ETH)
2013: Vitalik Buterin proposed an improved solution for the Mastercoin project, but it was not applied. He researched and perfected the whitepaper outlining Ethereum.
2014: Vitalik's partner Gavin Wood publishes the Yellowpaper for Ethereum and Vitalik confirms Ethereum will be further developed by the Ethereum Foundation.
2015: The first block of Ethereum was successfully mined, marking the official milestone of the establishment of the Ethereum Blockchain.
2016: Ethereum had an Ethereum Hard Fork and The DAO was Hacked, leading to the split of Ethereum into two coins, Ethereum and Ethereum Classic.

How Ethereum virtual currency works
To better understand how Ethereum works, participants need to understand more about blockchains and how they work, as well as how ETH prices work in the market. Since Ethereum's blockchain is like every other blockchain, they are created by networks of computers called Nodes.

To be able to participate in Ethereum networks, Nodes need Ethereum Client software such as: Parity, Geth, etc. Once installed, Nodes must run a virtual machine program called Ethereum Virtual Machine (EVM).

EVM takes care of the execution of smart contracts on the Ethereum network. When developers want to build decentralized applications (DApps) on Ethereum, they have to implement smart contracts using the Solidity programming language.

EVM is a virtual machine that performs operations such as transaction orders and smart contracts on the Ethereum network. To activate this network operation requires a fee called gas, in Ethereum this fee will be paid in Ether

View attachment 94358

Synthesize Ethereum's Token Standard
Ethereum tokens are digital assets developed using the ERC (Ethereum Request for Comments) standard that provides common rules for easier and more efficient deployment of tokens on the Ethereum network.

ERC20 Standard: This is a general rule proposed by Vitalik Buterin in 2015 to help developers easily deploy Fungible Tokens on the Ethereum platform.
ERC721 Standard: A set of standards for the issuance of Non-Fungible Tokens (NFTs) proposed in 2018.
ERC1155 Standard: A combination of ERC20 and ERC721 for Non-Fungible and Fungible tokens.
ERC777 Standard: An improvement of the ERC20 standard, which improves security and flexibility issues in the management of tokens on the Ethereum network.

Advantages and disadvantages between ETH and Bitcoin
Ethereum (ETH) and Bitcoin (BTC) are the two most popular cryptocurrencies in the crypto market and are used in forex trading. Here are some advantages and limitations of each of these coins:

Intended use: Bitcoin is designed as a peer-to-peer electronic payment system. Meanwhile, Ethereum is designed as a platform for developing decentralized applications (DApps) and smart contracts (smart contracts) on the blockchain.
Total Supply: Bitcoin has a fixed total supply of 21 million BTC, while Ethereum has no fixed total supply.
Algorithm: Both threads have the same consensus mechanism, the difference is that Bitcoin uses algorithm (SHA-56) and Ethereum uses Ethash algorithm.
Transaction speed: Ethereum has a faster processing speed than Bitcoin, with the ability to handle 20 to 25 transactions per second, while Bitcoin can only handle about 7 transactions per second.

thanks bro

Others Ethereum (ETH) Basics

Currently reading: Others Ethereum (ETH) Basics

tonyzzz

rekuxqw1

"S'all Good, Man."​

"Perfection Is The Enemy Of Perfectly Adequate."​

"Money Is The Point!"​

"I Travel In Worlds You Can't Even Imagine."​

"Say Nothing, You Understand? Get A Lawyer!"​

“Confidence is good. Facts on your side, better.” ​

“Facts are facts.”​

“Sometimes the good guys win.”​

“I’m not good at building shit, you know? I’m excellent at tearing it down.”​

“Money is not beside the point… Money is the point.”​

“Whoa, whoa. Hold up. What the hell happened to you? I get it, the first rule of Fight Club, right?”​

“A good magician never reveals his secrets.”​

“Got to look successful to be successful.”​

“The lesson is, if you’re gonna be a criminal, do your homework.” ​

“If I had to do it all over again, I would maybe do some things differently. I just thought you should know that.”​

“Some men aren't looking for anything logical. They can't be bought, bullied, reasoned or negotiated with. Some men just want to watch the world burn.”​

"Ernest Hemingway once wrote, "The world is a fine place and worth fighting for." I agree with the second part."​

“There’s no better way to destroy someone’s life than to uncover their secrets.”​

“Hackers are breaking the systems for profit. Before, it was about intellectual curiosity and pursuit of knowledge and thrill, and now hacking is big business.”​

“Hackers often describe what they do as playfully creative problem-solving.”​

“Computer hackers do not need to know each other’s real names, or even live on the same continent, to steal millions in mere hours."​

“While many hackers have the knowledge, skills, and tools to attack computer systems, they generally lack the motivation to cause violence or severe economic or social harm.”​

“Very smart people are often tricked by hackers, by phishing. I don’t exclude myself from that. It’s about being smarter than a hacker. Not about being smart.”​

“At the end of the day, my goal was to be the best hacker.”​

“Humiliation is the favorite currency of the hacker.”​

“The hacker didn’t succeed through sophistication. Rather he poked at obvious places, trying to enter through unlocked doors. Persistence, not wizardry, let him through.”​

"Rules. Without Them We Live With The Animals.”​

“Consider This A Professional Courtesy.”​

"I've Lived My Life My Way, And I'll Die My Way."​

"You stabbed the devil in the back, and forced him back into the life that he had just left."​

"You Want A War, Or Do You Want To Just Give Me A Gun?"​

"Leave one wolf alive and the sheep are never safe."​

"When you play the game of thrones, you win or you die. There is no middle ground."​

"It's not easy to see something that’s never been before: A good world."​

"I believe in second chances. I don't believe in third chances."​

"If you only trust the people you grew up with, you won't make many allies."​

"A man with no motive is a man no one suspects. Always keep your foes confused: If they don't know who you are, what you want—they can't know what you plan to do next."​

"Never forget what you are, the rest of the world will not. Wear it like armor and it can never be used to hurt you."​

"I try to know as many people as I can. You never know which one you'll need."​

"It's hard to put a leash on a dog once you've put a crown on its head."​

“Everything before the word ‘but’ is horseshit.”​

“A lion doesn’t concern himself with the opinions of a sheep.”​

“Nothing FUCKS you harder than time.”​

“You pray for rain, you gotta deal with the mud too. That’s a part of it.”​

“I’d be more frightened by not using whatever abilities I’d been given.”​

“Luck is where opportunity meets preparation.”​

“If you have an enemy, then learn and know your enemy, don’t just be mad at him or her.”​

“Every failed experiment is one step closer to success.”​

When you work on a computer your hands travel 20 kilometres a day!​

Fugaku supercomputer is the world’s fastest computer. The $1-billion supercomputer has 7,630,848 cores, requires 29,899 kilowatts of electricity, and can execute 442,010 teraFLOPs.​

“Every day, about 317 million new viruses are discovered.​

“Microsoft’s founder, the infamous Bill Gates, was actually a college dropout."​

Did you know?​

“On average, a human blinks 20 times per minute, but using a computer reduces it to 7."​

Did you know?​

“The most common password for a computer and social media platforms is 123456."​

Did you know?​

“There are eight varieties of computers: mainframe, supercomputer, workstation, personal computer, Apple Macintosh, laptop, tablet, and smartphone."​

Did you know?​

“Linux leads the industry as it is used by Google, Facebook, Twitter, and Amazon."​

Did you know?​

“NASA computers were hijacked by a 15-year-old, resulting in a 21-day halt."​

Did you know?​

“You may heat a room with Gaming PCs more effectively than a heater."​

Did you know?​

“Physical money accounts for just around 10% of global cash, while the rest is stored on computers."​

Did you know?​

“YouTube actually started as a dating website." (Oh crap xD)​

Did you know?​

“Before they could progress as stable brands, Microsoft, HP, and Apple began manufacturing computers in their Garages."​

Did you know?​

“For every 12 million email spams, only one gets a reply."​

Did you know?​

“Banks and other corporate giants hire white hats or “good hackers” to help fix security issues and prevent system infiltration."​

Did you know?​

“If Earth stopped rotating for 1 second, everyone would die."​

Currently reading:
Others Ethereum (ETH) Basics

"S'all Good, Man."

"Perfection Is The Enemy Of Perfectly Adequate."

"Money Is The Point!"

"I Travel In Worlds You Can't Even Imagine."

"Say Nothing, You Understand? Get A Lawyer!"

“Confidence is good. Facts on your side, better.”

“Facts are facts.”

“Sometimes the good guys win.”

“I’m not good at building shit, you know? I’m excellent at tearing it down.”

“Money is not beside the point… Money is the point.”

“Whoa, whoa. Hold up. What the hell happened to you? I get it, the first rule of Fight Club, right?”

“A good magician never reveals his secrets.”

“Got to look successful to be successful.”

“The lesson is, if you’re gonna be a criminal, do your homework.”

“If I had to do it all over again, I would maybe do some things differently. I just thought you should know that.”

“Some men aren't looking for anything logical. They can't be bought, bullied, reasoned or negotiated with. Some men just want to watch the world burn.”

"Ernest Hemingway once wrote, "The world is a fine place and worth fighting for." I agree with the second part."

“There’s no better way to destroy someone’s life than to uncover their secrets.”

“Hackers are breaking the systems for profit. Before, it was about intellectual curiosity and pursuit of knowledge and thrill, and now hacking is big business.”

“Hackers often describe what they do as playfully creative problem-solving.”

“Computer hackers do not need to know each other’s real names, or even live on the same continent, to steal millions in mere hours."

“While many hackers have the knowledge, skills, and tools to attack computer systems, they generally lack the motivation to cause violence or severe economic or social harm.”

“Very smart people are often tricked by hackers, by phishing. I don’t exclude myself from that. It’s about being smarter than a hacker. Not about being smart.”

“At the end of the day, my goal was to be the best hacker.”

“Humiliation is the favorite currency of the hacker.”

“The hacker didn’t succeed through sophistication. Rather he poked at obvious places, trying to enter through unlocked doors. Persistence, not wizardry, let him through.”

"Rules. Without Them We Live With The Animals.”

“Consider This A Professional Courtesy.”

"I've Lived My Life My Way, And I'll Die My Way."

"You stabbed the devil in the back, and forced him back into the life that he had just left."

"You Want A War, Or Do You Want To Just Give Me A Gun?"

"Leave one wolf alive and the sheep are never safe."

"When you play the game of thrones, you win or you die. There is no middle ground."

"It's not easy to see something that’s never been before: A good world."

"I believe in second chances. I don't believe in third chances."

"If you only trust the people you grew up with, you won't make many allies."

"A man with no motive is a man no one suspects. Always keep your foes confused: If they don't know who you are, what you want—they can't know what you plan to do next."

"Never forget what you are, the rest of the world will not. Wear it like armor and it can never be used to hurt you."

"I try to know as many people as I can. You never know which one you'll need."

"It's hard to put a leash on a dog once you've put a crown on its head."

“Everything before the word ‘but’ is horseshit.”

“A lion doesn’t concern himself with the opinions of a sheep.”

“Nothing FUCKS you harder than time.”

“You pray for rain, you gotta deal with the mud too. That’s a part of it.”

“I’d be more frightened by not using whatever abilities I’d been given.”

“Luck is where opportunity meets preparation.”

“If you have an enemy, then learn and know your enemy, don’t just be mad at him or her.”

“Every failed experiment is one step closer to success.”

When you work on a computer your hands travel 20 kilometres a day!

Fugaku supercomputer is the world’s fastest computer. The $1-billion supercomputer has 7,630,848 cores, requires 29,899 kilowatts of electricity, and can execute 442,010 teraFLOPs.

“Every day, about 317 million new viruses are discovered.

“Microsoft’s founder, the infamous Bill Gates, was actually a college dropout."

Did you know?

“On average, a human blinks 20 times per minute, but using a computer reduces it to 7."

Did you know?

“The most common password for a computer and social media platforms is 123456."

Did you know?

“There are eight varieties of computers: mainframe, supercomputer, workstation, personal computer, Apple Macintosh, laptop, tablet, and smartphone."

Did you know?

“Linux leads the industry as it is used by Google, Facebook, Twitter, and Amazon."

Did you know?

“NASA computers were hijacked by a 15-year-old, resulting in a 21-day halt."

Did you know?

“You may heat a room with Gaming PCs more effectively than a heater."

Did you know?

“Physical money accounts for just around 10% of global cash, while the rest is stored on computers."

Did you know?

“YouTube actually started as a dating website." (Oh crap xD)

Did you know?

“Before they could progress as stable brands, Microsoft, HP, and Apple began manufacturing computers in their Garages."

Did you know?

“For every 12 million email spams, only one gets a reply."

Did you know?

“Banks and other corporate giants hire white hats or “good hackers” to help fix security issues and prevent system infiltration."

Did you know?

“If Earth stopped rotating for 1 second, everyone would die."

Did you know?

“If someone made a sound of 1100db or larger a black hole would form sucking in our whole solar system."

“People shouldn't be afraid of their government. Governments should be afraid of their people.”