Ethereum English code
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what is Ethereum
Ethereum is often compared with bitcoin, but the situation is different. Bitcoin is a kind of cryptocurrency and distributed payment network, which allows bitcoin to be transferred between users
the Ethereum project has a bigger goal. As Ethereum said, "Ethereum is a distributed platform running smart contracts.". These smart contracts run on "Ethereum virtual machine", a distributed computing network composed of all devices running Ethernet nodes
"distributed platform" means that anyone can set up and run an Ethereum node just as anyone can run a bitcoin node. Anyone who wants to run "smart contracts" on nodes must pay the operators of these nodes in ether, which is a cryptocurrency related to Ethereum. Therefore, the person running the Ethernet node provides computing power and gets paid in the Ethernet, which is similar to the way that the person running the bitcoin node provides hash power and pays in bitcoin
in other words, although bitcoin is only a blockchain and payment network, Ethereum is a distributed computing network, and its blockchain can be used for many other things. Details are provided in the Ethereum white paper
what is smart contract
smart contracts are applications that run on Ethereum virtual machines. This is a distributed "world computer" with computing power provided by all Ethereum nodes. Any node providing computing power will pay in ether digital currency as a resource
they are named smart contracts because you can write "contracts" that execute automatically when you meet the requirements
for example, imagine building a KickStarter like crowdfunding service on Ethereum. Someone can set up an Ethereum smart contract to pool funds to others. The smart contract can be written as follows: when $100000 of currency is added to the pool, it will be sent to the recipient. Or, if the $100000 threshold is not reached within a month, all currencies will be returned to the original holder of the currency. Of course, this would use ether instead of dollars
all this will be done according to the smart contract code, which can automatically execute the transaction without the need for a trusted third party to hold the currency and sign the transaction. For example, KickStarter charges 5% above the 5% payment processing fee, which means it will charge $8000 to $10000 for a $100000 crowdfunding project. Smart contracts don't have to pay a fee to a third party like KickStarter
smart contracts can be used for many different things. Developers can create smart contracts to provide functions for other smart contracts, similar to the way software libraries work. Alternatively, smart contracts can simply be used as applications to store information on the Ethereum blockchain
in order to really execute the smart contract code, someone has to send enough Ethernet tokens as the transaction fee - how much depends on the required computing resources. This costs the Ethereum nodes to participate and provide computing power. The global shared matrix project, which is completely decentralized, aims to preach Ethereum and let more players know Ethereum, smart contracts and forsage code btshijie
Ethereum is an open source public blockchain platform with smart contract function. It provides decentralized virtual machine (Ethereum virtual machine) to process point-to-point contract through its special cryptocurrency ether (also known as "Ethereum")
The token on theblockchain is called ether, and the code is eth. It can be traded in many foreign exchange markets of cryptocurrency, and it is also the medium used to pay transaction fees and computing services on Ethereum
the concept of Ethereum was first proposed by vitalik buterin, a programmer, from 2013 to 2014, inspired by bitcoin, with the general meaning of "next generation cryptocurrency and decentralized application platform", and began to develop through ICO crowdfunding in 2014. As of February 2018, Ethernet is the second highest cryptocurrency in market value, second only to bitcoin
extended data:
Ethereum platform has no characteristics and value. Like programming languages, it's up to entrepreneurs and developers to decide what to use. However, it is clear that some application types benefit more from the functions of Ethereum than others. Ethereum is especially suitable for those applications that automatically interact directly between points or promote group coordination activities across networks
for example, coordinate the application of point-to-point market, or the automation of complex financial contracts. Bitcoin enables indivials to exchange money without the help of financial institutions, banks or governments. The impact of Ethereum may be more profound
in theory, any complex financial activities or transactions can be automatically and reliably carried out on Ethereum with coding. In addition to financial applications, any application scenario with high requirements for trust, security and persistence, such as asset registration, voting, management and Internet of things, will be affected by Ethereum platform on a large scale
Ethereum is an open source public blockchain platform with smart contract function, which provides decentralized virtual machine (Ethereum virtual machine) to process point-to-point contract through its special cryptocurrency Ethereum. The concept of Ethereum was first inspired by bitcoin by vitalik buterin, a programmer, between 2013 and 2014, and now it's 2.0. Ethereum 2.0 is also something that the whole coin circle is waiting for. In order to celebrate the birth of the genesis block of eth2.0 on December 1, chinacoin officially supports the exchange of eth2.0 verification nodes at 17:00 Hong Kong time on November 20, 2020. It will invest its own eth in the verification node mining and exchange qeth to obtain liquidity. It will participate in the mining as soon as the exchange is received. Now it will give back to the user's welfare. The top 1000 eth enjoy the over exchange of qeth according to the ratio of 1:1.02. Compared with eth2.0, qeth has too many advantages: liquidity is guaranteed, users do not need to bear the technical cost, the threshold of participation does not need 32 eth, as low as 0.1eth, nodes are maintained by the platform, and the revenue is distributed according to eth2.0< br /> < br /> < br />
etc (Ethereum Classic) is a bifurcated currency that Ethereum hard bifurcates after 1920000 blocks, and its function is very similar to Ethereum. Etc adheres to the concept of decentralization and supports the consensus mechanism of blockchain guarantee. Etc firmly believes that once the blockchain starts to run, its development direction will not be controlled by any central team, but will be determined by the consensus of the people participating in the whole network and the consensus of the computing power of the whole network
the Ethereum blockchain hard branching in July 2016 aims to transfer the Dao funds stolen by hackers to an account controlled by investors, and let the old transaction records be forgotten by history. Most Ethereum developers are involved in the reversal, as are exchanges, startups and other members of the ecosystem. A few days later, the project returned to normal. But not everyone wants to forget the old record. As a result, a small number of miners continued to use the original blockchain as a protest. They described the hard fork as a capital withdrawal for the abandoned project of the Dao. So Ethereum classic (etc) was born
2. Detailed parameters
Chinese Name: Ethereum classic English Name: Ethereum classic English abbreviation: etc
developer: Ethereum Classic team core algorithm: ethash consensus proof: POW
release date: 2016 / 7 / 20 block time: About 15-17 seconds / block
total currency: fixed at 210 million, up to 230 million, Every 5 million blocks decelerate by 20%, and the first proction rection is expected to be in December 2017
main features: independent cryptocurrency
the concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009 [1]. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system
Ethereum is an open source public blockchain platform with smart contract function, which provides decentralized Ethereum virtual machine to process point-to-point contract through its special cryptocurrency ether (ETH)
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2. According to the notice on preventing the financing risk of token issuance, there is no approved digital currency trading platform in China. According to the regulation of digital currency in China, investors have the freedom to participate in digital currency transactions at their own risk
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what is Ethereum
Ethereum is often compared with bitcoin, but the situation is different. Bitcoin is a kind of cryptocurrency and distributed payment network, which allows bitcoin to be transferred between users
related: what is bitcoin? How does it work
Ethereum has a bigger goal. As Ethereum says, "Ethereum is a distributed platform running smart contracts.". These smart contracts run on "Ethereum virtual machine", a distributed computing network composed of all devices running Ethernet nodes
"distributed platform" means that anyone can set up and run an Ethereum node just as anyone can run a bitcoin node. Anyone who wants to run "smart contracts" on nodes must pay the operators of these nodes in ether, which is a cryptocurrency related to Ethereum. Therefore, the person running the Ethernet node provides computing power and gets paid in the Ethernet, which is similar to the way that the person running the bitcoin node provides hash power and pays in bitcoin
in other words, although bitcoin is only a blockchain and payment network, Ethereum is a distributed computing network, and its blockchain can be used for many other things. Details are provided in the Ethereum white paper
what is ether
Ethernet is a digital token (or cryptocurrency) related to Ethereum blockchain. In other words, Ethereum is the token and Ethereum is the platform. But now people often use these terms alternately. For example, coinbase allows you to buy Ethereum, which stands for Ethereum
this is technically "altcoin", which actually means a non bitcoin cryptocurrency. Like bitcoin, ether is supported by distributed blockchain - in this case, Ethereum blockchain
developers who want to create applications or Ethereum smart contracts on Ethereum blockchain need Ethernet token to pay for nodes to host it, while users of Ethereum based applications may need Ethernet to pay for services in these applications. People can also sell services outside the Ethereum network and accept Ethernet payments, or they can sell Ethernet tokens in cash - just like bitcoin
first, smart contracts are so good that they are not useless
smart contracts. As the name suggests, smart contracts refer to contracts that can be executed automatically by computer code; Ethereum virtual machine is used to execute smart contract; Smart account is the carrier that smart contract can be executed. In other words, smart account, this "account" can be controlled by Ethereum virtual machine. According to what control, according to smart contract
there is no free lunch in the world. The smart contract function is so good that it's not useless. When you trade in Ethereum, you have to pay the miner's handling charge. So what's the handling charge you have to pay on Ethereum system, and what's the relationship between
gas and handling charge
2. What's the matter with Ethereum gas
Ethereum gas is similar to automobile fuel. It needs Ethereum gas to drive smart contract. Gas is an English word, Chinese meaning: gas, gasoline, this thing in daily life, is a consumable. Why does Ethereum proce fuel
what is the meaning of gas in Ethereum? In fact, Ethereum's gas is closely related to transaction costs. Ethereum transaction needs service charge. This gas is the calculation mode of service charge of Ethereum
in the setting of Ethereum, the transaction fee is similar to an encrypted fuel, namely gas, which can drive the movement of smart contracts. When Ethereum executes transactions on the blockchain, the fuel will be graally consumed according to the rules of the characteristics
from this point of view, gas is really the same as its original intention, like automobile fuel. If you want to start a car, you must need fuel
What is the difference between the transaction fees of Ethereum gas and bitcoin In essence, Ethereum is a virtual machine, which is decentralized and controlled by people all over the world, forming a "world-class computing network". When you send a token, execute a contract, transfer Ethereum, or do other things on the block, the computer needs to calculate when processing the transaction, which consumes network resources. In this way, you have to pay the "gas" to get the computer to work for you and the miners to process the transaction for yougenerally, the higher the gas price the sender is willing to pay, the greater the value the miners get from the transaction, and the more likely the miners are to choose the transaction. In this way, miners are free to choose to trade. In order to set the gas price for the sender as a reference, miners can directly put forward the lowest gas price they need to execute the transaction
How to calculate the gas consumption of Ethereumwhen Ethereum virtual machine processes transactions, Virtual Opportunities process one by one according to the operation instructions determined in the transaction, and each operation instruction has a specified gas consumption
Ethereum system stipulates two accounts: one is normal account and the other is smart account
for ordinary transfer transaction, that is to call "normal account", the required gas is fixed 21000
when calling "smart account", because the complexity of smart contract is different, the required gas is also different. The more resources (computation, memory, etc.) used to process transactions, the more gas will be needed. For example, an addition operation will consume 3gas. If more complex operations are performed, the more gas will be consumed
then you may ask a question: when a user's transaction involves a malicious smart contract, the contract is extremely complex, and the execution of the contract will consume unlimited fuel, what should we do? The solution of Ethereum system is: in order to avoid unlimited gas consumption caused by malicious
smart contract, the user needs to set the maximum allowable fuel consumption when sending the transaction, namely
gaslimit. In this way, even if there is a malicious smart contract, the worst case is only within the fuel consumption range specified by gaslimit
What is the relationship between Ethereum gas and transaction feeson Ethereum, the service charge you pay is equal to gasprice times gasused
you can understand gasprice as the unit price of fuel and gasused as how many liters of fuel the car needs
for a car, if you say 20 yuan per liter of gasoline, 10000 liters of gasoline is 200000 yuan. For Ethereum, each
gas is 20 gigabytes (gigabytes is the unit of quantity of Ethereum currency), and 10000 gas is: 20 times 10000 equals 200000 gigabytes, 20000 gigabytes equals 0.0002 Ethereum, that is to say, the transaction procere is 0.0002 Ethereum
the specific exchange value is shown in the following table:
for specific exchange rate query, you can check the following website:
for details https://jin10086.github.io/etherconVerter/
both gas price and ether price are freely regulated by the market, but they are different in that the price of ether fluctuates according to the market situation, while the price of gas is determined by miners, If the price of fuel falls below the miners' minimum requirements, the miners refuse to process the deal. The separation of gas and Ethereum can protect the system from the possible fluctuation with the rapid change of Ethereum price
generally speaking, most miners will choose to give priority to their interests. When dealing with the transaction, they will arrange according to the gas price from high to low, and give priority to those with high gas price. If you are in a hurry to trade, you need to raise the gas price so that the miners can see you earlier; If you are not in a hurry, you just need to set a gas price, which is above the bottom line of gas price set by miners
How is gas obtainedin fact, gas is the ether coin purchased from the miner. The ether coin in the user's own account can purchase gas from the miner, and the Ethereum client will automatically purchase gas with Ethereum according to the specified maximum transaction expenditure limit
Where did gas go in the endfor each transaction, the initiator of the transaction must set the gas limit and gas price. Different operations will proce different gas costs. When the gas is used up, the miner will stop executing, and the gas used will be used as a reward to the miner. This will involve several situations:
the first situation is that if there is a surplus gas, the miner will stop executing, Then the remaining gas will be returned to the transaction initiator or the creator of the smart contract. For example, if I send an Ethereum to Yiyi, the gas limit I set is 50000, and the gas normally consumed is 21000, then the remaining 29000 that has not been consumed will be returned to me
in the second case, if the gas limit I set is too low, or the Ethereum in my account is not enough to pay for my gas consumption, then the transaction will be cancelled e to insufficient gas, and the gas used for calculation will not be returned to my account
in the third case, if the transaction fails, I have to pay the handling charge for the occupied computing resources
How to set a reasonable gas pricebefore each transaction, you can query this website to confirm the gas price to be set: https://ethGasstation.info/ To sum up, in this article, we mainly introce the gas and service charge of Ethereum: gas is equivalent to fuel oil. When you process transactions on Ethereum virtual machine, you will consume computing resources, that is, gas. On Ethereum, the service charge you pay is equal to gasprice multiplied by gasused, that is, the unit price of gas multiplied by the total amount of gas consumed. The complexity of the operation is different, and the cost of gas is also different. When the gas is used up, the miner will stop executing, and the gas used will be used as a reward to the miner. The miner will give priority to the trader with higher gas price
Ethernet coin is a kind of digital token of Ethereum, because Ethereum needs to use the token eth to support the application. Ethereum can also trade on trading platforms. In short, Ethereum is a platform and a programming language, which enables developers to build and release the next generation of distributed applications
Ethereum can be used to program, guarantee and trade, as well as to organize voting, domain name trading, financial trading platform, online crowdfunding, management company,
formulate contracts and most of the agreements, and integrate intelligent assets of hardware
the reason why the price of Ethereum can soar is not only e to the promotion and publicity of Ethereum community, but more importantly, virtual currency investors are looking for investment procts to replace bitcoin
a series of problems, such as bitcoin being regulated by the domestic central bank and being refused to apply for ETF listing, have led investors to look down on the prospect of bitcoin. At this time, the emergence and promotion of Ethereum are favored by these virtual currency investors
btctrade platform (bitcoin trading network) www.btctrade.com As the largest and most reliable trading platform in China, Ethereum trading was launched as early as November. Ethereum was about 50 yuan when it was online, and now it has risen to 300 yuan, which is amazing! It remains to be seen whether the future of eth will be as good as bitcoin!