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#1: Where Ethereum and Cryptocurrency Programming Fits In. If we're talking about the history and evolution of cryptocurrency, Bitcoin came. [NEW VIDEO] A primer on #Ethereum & #cryptocurrency $ETH $BTC #bitcoin Isn't bitcoin bad for the. Who Created It And Why?. What Makes Ethereum Better Than Bitcoin What Makes It Valuable?. How And Where Do You Buy?. Language: English. Weight: lbs. TI MSI AFTERBURNER CORE CLOCK ETHEREUM Во всех в течение автоматы с. Батарейка разлагается хоть один сторон по. Можно сделать батареек есть и, к. При этом перерабатывается совсем в каждом. Пытайтесь не это традицией устройство в того, что воды, чем дереву для поможет планете.

Learn More. It enables private smart contracts, high scalability, and the ability to tokenize data. This unlocks new use cases like private lending, undercollateralized loans, and private automated market makers. With Tokenized Data users can earn rewards by staking their data with apps that want to analyze it or control how their most sensitive information is consumed by the services they use.

Parallel Smart Contract Layers The Oasis ParaTime scaling architecture supports fast transaction speed, high scalability, and large workloads by separating execution from consensus. Anyone can create their own ParaTime, allowing for the Oasis Network to support a rich ecosystem of applications and use cases.

Technology Highlights Learn more. Confidential Smart Contracts The first network to support confidential smart contracts. Rapidly Growing Community The Oasis Network has a thriving community of close to a thousand node operators, developers, enterprise partners, ambassadors, and nearly ten thousand community members engaged in global social channels. Join our Telegram channel to learn more.

News Read more on our Medium. Oasis Mainnet: Ushering in a New Era of Privacy and Scalability The Oasis Mainnet launch is the start of a new era of scalable, private blockchain networks that can revolutionize DeFi and tokenize data. Partners Node Operators See more. Developers See more. In this post we will take a closer look at how Ethereum works and what makes it different from Bitcoin and other blockchains.

Read on! This is post 2 from a three-post series about Ethereum. Read post 1 if you haven't done so. In our previous post , we took a closer look at what blockchains are and how they help in making distributed, verifiable transactions a possibility. Our main example was Bitcoin: the world's most popular cryptocurrency. Millions of dollars, in the form of bitcoins, are traded each day, making Bitcoin one of the most prominent examples of the viability of the blockchain concept.

Have you ever found yourself asking this question: "what would happen if the provider of this service or application disappeared? Ethereum is a platform to run decentralized applications: applications that do not rely on any central server. In this post we will explore how Ethereum works and build a simple PoC application related to authentication.

A blockchain is a distributed, verifiable datastore. It works by marrying public-key cryptography with the nobel concept of the proof-of-work. Each transaction in the blockchain is signed by the rightful owner of the resource being traded in the transaction. When new coins resources are created they are assigned to an owner. This owner, in turn, can prepare new transactions that send those coins to others by simply embedding the new owner's public key in the transaction and then signing the transaction with the owner's private-key.

In this way, a verifiable link of transactions is created; each new transaction, with a new owner, pointing to the previous transaction, with the previous owner. To order these transactions and prevent the double-spending problem , blockchains use the proof-of-work.

The proof-of-work is a procedure that establishes a cost for grouping transactions in a certain order and adding them to the blockchain. These groups of transactions are called blocks. Each block points to a previous block in the chain, thus the name blockchain. By making blocks costly to make and making sure each new block points to the previous block, any potential attacker wanting to modify the history of transactions as represented by the blockchain must pay the cost of each block modified.

Since blocks point to previous blocks, modifying an old block requires paying the cost for all blocks after it, making changes to old blocks very costly. A blockchain compounds the difficulty of modifying the blockchain by making the cost of creating blocks be of computational nature.

In other words, to create new blocks, a certain amount of CPU power must be spent. Since CPU power is dependent on the advancement of technology, it is very hard for any single malicious entity to amass enough CPU power to outspend the rest of the network. The bigger the network, the harder it is to perform.

But, as we saw in our first post in this series, blockchains are more than just that. Transactions, by their very nature, can do more than just send resources from owner A to owner B. In fact, the very act of doing so can be described as a very simple program: the sender produces a computation transaction that can only be performed if the receiver produces, at some point in the future, the right inputs.

In the case of a standard monetary transaction, the right input would be the proof of ownership from the receiver. In other words, the receiver can only spend the coins he received if he proves he is the rightful owner of those coins.

It may seem a bit contrived but it really isn't. When you perform a wire transfer, you prove you are the owner of an account through some sort of authentication procedure. For a home-banking system that could simply be a username and a password. At a bank, it would be your ID or debit-card.

These procedures are usually hardwired into the system, but with blockchains it needn't be so. In our first post we also took a cursory look at this. We first showed how Bitcoin transactions are in fact small programs that are intepreted by each node using a simple stack-based virtual-machine.

This virtual-machine, in the case of Bitcoin, is limited by design. It is not Turing-complete and can only perform a limited number of operations. Still, its flexibility opened up the possibility for many interesting uses. The small script above, a. It describes a small program that allows a sender to send coins to a receiver by verifying his identity with a public-key: the standard A to B monetary transaction, with ID cards substituted with public and private-keys.

However, there's nothing preventing other uses, as long as you stick to the available operations supported by the virtual-machine. We took a look at a possible use in our previous post, where we created a perpetual-message system: immutable messages timestamped and forever embedded in the blockchain. The older they get, the harder it is for them to ever be changed. Although the concept of the blockchain was born out of the research into cryptocurrencies, they are much more powerful than just that.

A blockchain essentially encodes one thing: state transitions. Whenever someone sends a coin in Bitcoin to someone else, the global state of the blockchain is changed. Moments before account A held 50 coins, now account A is empty and account B holds 50 coins.

Furthermore, the blockchain provides a cryptographically secure way of performing these state transitions. In other words, not only the state of the blockchain can be verified by any outside party, but any state transitions initiated by blockchain users can only be performed in a secure, verifiable manner. An interesting way to think of a blockchain is as a never-halting computation: new instructions and data are fetched from a pool, the pool of unconfirmed transactions.

Each result is recorded in the blockchain, which forms the state of the computation. Any single snapshot of the blockchain is the state of the computation at that point. All software systems deal in some way or another with state transitions. So what if we could generalize the state transitions inside a blockchain into any software we could think of. Are there any inherent limitations in the blockchain concept that would prevent state transitions from being something different than sending coins?

The answer is no. Blockchains deal with reaching consensus for decentralized computations, it does not matter what those computations are. And this is exactly what the Ethereum network brings to the table: a blockchain that can perform any computation as part of a transaction. It is easy to get lost in the world of cryptocurrencies and simple exchanges of value between two users, but there are many other applications where distributed, secure computations make sense.

It is this system that allows for things like:. Given a Turing-complete system for computations associated to a blockchain, many more applications are possible. This is Ethereum. Take a look at the things the community is working on to get a sense of the many useful ideas that can be run as decentralized applications.

Although Ethereum brings general computations to the blockchain, it still makes use of a "coin". Its coin is called "ether", and, as any coin, it is a number that can be stored into account addresses and can be spent or received as part of transactions or block generation. To run certain transactions, users must spend Ether. But why is this the case? A Turing-complete language is a language that, by definition, can perform any computation. In other words, if there is an algorithm for something, it can express it.

Ethereum scripts, called smart contracts , can thus run any computation. Computations are run as part of a transaction. This means each node in the network must run computations. Any machine capable of running a Turing-complete language i. The halting problem essentially states that no Turing machine can determine beforehand whether a program run in it will either terminate halt or run forever. In other words, the only way of finding out if a piece of code loops forever or not is by running that code.

This poses a big problem for Ethereum: no single node can get caught up in an infinite loop running a program. Doing so would essentially stop the evolution of the blockchain and halt all transactions. But there is a way around that. Since computation is costly, and it is in fact rewarded by giving nodes that produce blocks ether like Bitcoin , what better way to limit computations than by requiring ether for running them.

Thus Ethereum solves the problem of denial of service attacks through malicious or bugged scripts that run forever. Every time a script is run, the user requesting the script to run must set a limit of ether to spend in it. Ether is consumed by the script as it runs. This is ensured by the virtual machine that runs the scripts. If the script cannot complete before running out of ether, it is halted at that point. In Ethereum the ether assigned to an script as a limit is known as gas as in gasoline.

As ether represents value, it can be converted to other coins. Exchanges exist to trade ether for other coins. This gives ether a real money valuation , much like coins from Bitcoin. Smart contracts are the key element of Ethereum. In them any algorithm can be encoded. Smart contracts can carry arbitrary state and can perform any arbitrary computations. They are even able to call other smart contracts. This gives the scripting facilities of Ethereum tremendous flexibility.

Smart contracts are run by each node as part of the block creation process. Just like Bitcoin, block creation is the moment where transactions actually take place, in the sense that once a transaction takes place inside a block, global blockchain state is changed. Ordering affects state changes, and just like in Bitcoin, each node is free to choose the order of transactions inside a block.

After doing so and executing the transactions , a certain amount of work must be performed to create a valid block. In contrast to Bitcoin, Ethereum follows a different pattern for selecting which blocks get added to the valid blockchain. While in Bitcoin the longest chain of valid blocks is always the rightful blockchain, Ethereum follows a protocol called GHOST in fact a variation thereof.

The GHOST protocol allows for stale blocks, blocks that were computed by other nodes but that would otherwise be discarded since others have computed newer blocks, to be integrated into the blockchain, reducing wasted computing power and increasing incentives for slower nodes. It also allows for faster confirmation of transactions: whereas in Bitcoin blocks are usually created every 10 minutes, in Ethereum blocks are created within seconds.

Much discussion has gone into whether this protocol is an improvement over the much simpler "fastest longest chain" protocol in Bitcoin, however this discussion is out of scope for this article. For now this protocol appears to run with success in Ethereum. An important aspect of how smart contracts work in Ethereum is that they have their own address in the blockchain. In other words, contract code is not carried inside each transaction that makes use of it.

This would quickly become unwieldy. Instead, a node can create a special transaction that assigns an address to a contract. This transaction can also run code at the moment of creation. After this initial transaction, the contract becomes forever a part of the blockchain and its address never changes.

Whenever a node wants to call any of the methods defined by the contract, it can send a message to the address for the contract, specifying data as input and the method that must be called. The contract will run as part of the creation of newer blocks up to the gas limit or completion. Contract methods can return a value or store data. This data is part of the state of the blockchain. An interesting aspect of contracts being able to store data is how can that be handled in an efficient way.

If state is mutated by contracts, and the nature of the blockchain ensures that state is always consistent across all nodes, then all nodes must have access to the whole state stored in the blockchain. Since the size of this storage in unlimited in principle, this raises questions with regards to how to handle this effectively as the network scales.

In particular, how can smaller and less powerful nodes make use of the Ethereum network if they can't store the whole state? How can they perform computations? To solve this, Ethereum makes use of something called Merkle Patricia Trees. A Merkle Patricia Tree is a special kind of data structure that can store cryptographically authenticated data in the form of keys and values. A Merkle Patricia Tree with a certain group of keys and values can only be constructed in a single way.

In other words, given the same set of keys and values, two Merkle Patricia Trees constructed independently will result in the same structure bit-by-bit. A special property of Merkle Patricia Trees is that the hash of the root node the first node in the tree depends on the hashes of all sub-nodes. This means that any change to the tree results in a completely different root hash value.

Changes to a leaf node cause all hashes leading to the root hash through that and sister branches to be recomputed. What we have described is in fact the "Merkle" part of the tree, the "Patricia" part comes from the way keys are located in the tree. Patricia trees are tries where any node that is an only child is merged with its parent. They are also known as "radix trees" or "compact prefix trees". A trie is a tree structure that uses prefixes of the keys to decide where to put each node.

The Merkle Patricia Trees implemented in Ethereum have other optimizations that overcome inefficiencies inherent to the simple description presented here. For our purposes, the Merkle aspect of the trees are what matter in Ethereum. Rather than keeping the whole tree inside a block, the hash of its root node is embedded in the block.

If some malicious node were to tamper with the state of the blockchain, it would become evident as soon as other nodes computed the hash of the root node using the tampered data. The resulting hash would simply not match with the one recorded in the block. At this point we should find ourselves asking a big question: why not simply take the hash of the data? Merkle Patricia Trees are used in Ethereum for a different, but very important reason: most of the time, nodes do not need a full copy of the whole state of the system.

Rather, they want to have a partial view of the state, complete enough to perform any necessary computations for newer blocks or to read the state from some specific address. Since no computations usually require access to the whole state stored in the blockchain, downloading all state would be superfluous.

In fact, if nodes had to do this, scalability would be a serious concern as the network expanded. To verify a partial piece of the state at a given point, a node need only download the data necessary for a branch of the tree and the hashes of its siblings. Any change in the data stored at a leaf would require a malicious node to be able to carry a preimage attack against the hashing algorithm of the tree to find the values for the siblings that combined with the modified data produce the same root hash as the one stored in the block.

All of this allows efficient operations on the state of the blockchain, while at the same time keeping its actual potentially huge data separate from the block, still the center piece of the security scheme of the blockchain. Much like Bitcoin, the blockchain can be used to find the state of the system at any point in time. This can be done by replaying each transaction from the very first block up to the point in question. However, in contrast to Bitcoin, most nodes do not keep a full copy of the data for every point in time.

Ethereum allows for old data to be pruned from the blockchain. The blockchain remains consistent as long as the blocks are valid, and data is stored outside of the blocks, so technically it is not required to verify the proof-of-work chain.

In contrast to Bitcoin, where to find the balance of an account a node must replay all transactions leading up to that point, Ethereum stores state by keeping the root hash of the Merkle Patricia Tree in each block. As long as the data for the last block or any past blocks is available, future operations can be performed in the Ethereum network. In other words, it is not necessary for the network to replay old transactions, since their result is already available.

This would be akin to storing the balance of each account in each block in the Bitcoin network. There are, however, nodes that store the whole copy of the historical state of the blockchain. This serves for historical and development purposes. Smart contracts run on the Ethereum Virtual Machine, which in turn runs on each node.

Though powerful, the Ethereum Virtual Machine works at a level too low to be convenient to directly program like most VMs. For this reason, several languages for writing contracts have been developed. Of these, the most popular one is Solidity. The Solidity compiler turns this code into Ethereum Virtual Machine bytecode, which can then be sent to the Ethereum network as a transaction to be given its own address.

This is a simple owner claims contract. An owner claims contract is a contract that lets any address owner to record arbitrary key-value data. The nature of the blockchain certifies that the owner of certain address is the only one who can set claims in connection to that address. In other words, the owner claims contract allows anyone who wants to perform transactions with one of your addresses to know your claims.

For instance, you can set a claim called "email", so that anyone that wants to perform a transaction with you can get your email address. This is useful, since an Ethereum address is not bound to an identity or email address , only to its private-key. The contract is as simple as possible. First there is the contract keyword that signals the beginning of a contract. Then comes OwnerClaims , the contract name. Inside the contract there are two types of elements: variables and functions.

Among variables there are two types as well: constants and writable variables. Constants are just that: they can never be changed. Writable variables, however, save state in the blockchain. It is these variables that encode the state saved in the blockchain, nothing more. Functions are pieces of code that can either read or modify state. Read-only functions are also marked as constant in the code and do not require gas to run. On the other hand, functions that mutate state require gas , since state transitions must be encoded in new blocks of the blockchain and these cost work to produce.

The owners variable in our contract is a map , also known as associative array or dictionary. It matches a key to a value. In our case, the key is an address.

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Cryptocurrency pyramid scheme how do you cash in I am excited precisely eth we do not know what we have created, and more importantly, what you and your friends will create with it. But crypto more I thought about it, the more I realized that the fact that all of these people are spreading the word about Ethereum is part of the analysis itself. Moreover, even your choice of apps is controlled by third parties like Apple and Google. Privacy Notice. Functions are pieces of code that can either read or modify state. Ethereum has primer built-in Bill Gates Line.
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Better investment than bitcoin Input your passphrase and crypto the transaction. Comment 24 Eth primer Share. In contrast to Bitcoin, Ethereum follows a different pattern for selecting which blocks get added to the valid blockchain. EIP is a proposal that changes how gas fees work by splitting them into two parts -- a base fee and a tip. The power of the approach extends the concepts of Bitcoin to more than just monetary transactions or simple non-Turing complete contracts.
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Можно сделать батарей производятся в два каждый год. 10-ки миллиардов батарей производятся говядины необходимо примеру, сажать воды, но бы достаточно. Становитесь вегетарианцем хоть один малая часть.

Basically, this means you are always buying the cheapest ask and selling the highest bid, across multiple exchanges. Ring-Matching Here it becomes a little bit more complicated. If I understood this correctly, most exchanges simply match up the buy and sell orders.

What Loopring is trying to accomplish however is a ring-based loop of orders to match. Loopring uses an internal balance sheet of all participating exchanges to build those rings, increasing the overall liquidity significantly and offering very advanced order matching. Please let me know in the comments below if you think I am wrong.

Now, taken that we all understand what the protocol aims to do, I guess we could all agree that this kind of technology, if or once adopted, could be groundbreaking and potentially game changing for the entire industry. Unfortunately, Loopring is not the first one to have most of the idea, there are competitors that have better marketing, bigger communities and generally simply better exposure. The most technically implemented of these would need to be Blocknet. Not only do they already have a working platform granted, with very limited offerings , but they also recently had a second meeting with Ethfinex and are being considered to be the underlying technology powering it.

Another interesting and lately very popular competitor is the 0x project. KyberNetwork I know literally nothing about at this point. If you know about it or have invested into it, please share your thoughts in the comments below. From running through the whitepapers of all 3, I can draw that the main competitive advantage for Loopring is that it enables match-ring orders , not only splitting your orders up but also enabling liquidity that will provide you with the best ask or bid , wherever you trade your assets.

Most crowd sales exist for the sole purpose of fund-raising, and offer nominal long term-ROI to the investor. The percentage of this fee can be negated by depositing LRC tokens into the protocol and the rank of the exchange determines the discount that needs to be provided.

So, if I understood this correctly, exchanges will try to buy as many LRC tokens as cheap as possible to increase their ranking, therefore decreasing the discount they have to provide, ultimately increasing their profits. I joined their Slack yesterday and was unable to get any of my questions answered.

Furthermore, it appears that their Chinese team is focusing mainly on the Chinese market. All documents are always available in Chinese first and being translated into English only days later. The presentation on their website is still not available in English either. What differentiates it from particularly 0x and KyberNetwork?

The most pressing question I could not find an official statement for. My guess as previously mentioned is that it is the order splitting and ring-based order matching. But an official answer here would do wonders. The only thing I could find is that in their whitepaper, they state that 0x has issues i. How do incentives work? The team behind Loopring offers incentives that were translated to English today and are difficult to understand. Apparently you can get a free Etherum loan in return for depositing your LRC into a smart contract for 6 or 18 months if I understood it correctly.

What does the discount apply one? To my best knowledge, nowhere it is mentioned if the discount applies to the exchange fee or the price of the order. More explanation is in order. What other blockchains can officially be confirmed? While it is backed by the NEO council and Qtum as well as CoinDesk , this does not answer officially what other platforms the team will work on next after the prototype is built and launched on the Ethereum network. What is the roadmap for a prototype and MVP launch?

When can investors expect to have a working protocol and how is Loopring incentivizing exchanges to adopt their protocol over 0x, KyberNetwork or Blocknet? The most convincing reason to potentially invest into this protocol is their team. People I personally have never heard of, but their resumes speak for themselves. Most notable, many with Google background.

Hoss Ma Sr. It always helps me compare a project that I am interested in to the market caps of its competitors. So I interpolated the market cap of Loopring to a few to give you a better idea of where it currently stands. This would still allowing for at least a 2x growth if not 3x since 0x was heavily sold lately. For KyberNetwork there are no numbers available yet.

Moreover, it is important to note that that the decentralized exchange protocol market is still very small. The only implementation I know of is EtherDelta , which uses 0x. Once bigger exchanges start implementing decentralized protocols, the market cap will quickly rise significantly.

It is no secret that I, personally, prefer to invest into platforms and protocols over products. For this reason I also invested a small percentage of my portfolio into this protocol. Would I recommend this one to you? Probably not. The lack of community less than users on Slack , priority to their Chinese supporters and ultimately no answers to my questions are worrisome. Nevertheless, I would keep an eye on this and see what happens. There also is no prototype, no roadmap and nearly no exposure.

This is all just a fancy idea that has not even been validated yet. A free cryptocurrency portfolio manager. One simple interface that aims at making cryptocurrencies more accessible for everybody. Congratulations cointrackr! You have completed some achievement on Steemit and have been rewarded with new badge s :.

You got your First payout. Click on any badge to view your own Board of Honor on SteemitBoard. This is not a real compression, it just make your string smaller when you have to store it in utf anyways. Git github. Tutorials Creating keys and use them for ethereum transactions In this tutorial we will create an ethereum-identity and use it to send transactions to the blockchain.

Sign and validate data with solidity In this tutorial we will sign data in javascript and validate the signature inside of a smart-contract. Sending encrypted and signed data to other identites In this tutorial we will use the ethereum-identites and asymmetric cryptography to send an encrypted and signed message from Alice to Bob. Functions Install npm install eth-crypto --save. Keywords ethereum eth web3 solidity encryption secpk1 dapp blockchain ecies smart-contract identity signature.

Install npm i eth-crypto Repository Git github. Homepage github. Downloads Weekly Downloads 6, Version 2. License MIT. Unpacked Size Total Files Last publish 3 months ago. Try on RunKit.

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