How is Ethereum similar to Bitcoin?
I think it’s easiest to understand Ethereum by exploring the similarities and differences between Ethereum and a simpler system, Bitcoin. So what are the similarities?
Ethereum has a blockchain
Like Bitcoin, Ethereum has a blockchain, which contains blocks of data (transactions and smart contracts). The blocks are created or mined by some participants and distributed to other participants who validate them.
You can explore this blockchain here: https://etherscan.io
Blocks form a chain by referring to the hash or fingerprint of the previous block. See a gentle introduction to blockchain technology for a primer.
Ethereum is public and permissionless
Like Bitcoin, the main Ethereum network is a public, permissionless network – ie anyone can download or write some software to connect to the network and start creating transactions and smart contracts, validating them, and mining blocks without needing to log in or sign up with any other organisation.
In general, when people talk about Ethereum they mean the main public permissionless instance (version) of the network. However, like Bitcoin, you can take Ethereum software, modify it slightly and create private networks that aren’t connected to the main public network. The private tokens and smart contracts won’t be compatible with the public tokens though, for now. For more on the difference between public permissionless and private permissioned networks, see confused by blockchains? Revolution vs Evolution
Ethereum has Proof-of-Work (PoW) mining
Like Bitcoin, mining participants create valid blocks by spending electricity to find solutions to a mathematical puzzle. Ethereum’s PoW maths challenge called Ethash works slightly differently to Bitcoin’s, and this allows common hardware to be used for mining. This reduces the efficiency edge of task-specific hardware known as ASICs, which are common in Bitcoin mining.
For more on mining see a gentle introduction to bitcoin mining.
On Ethereum’s roadmap there is a plan to move from electricity-expensive Proof-of-Work mining to a more energy-efficient Proof-of-Stake protocol called Casper, in a future release of the Ethereum software called Serenity.
Ethereum has an inbuilt cryptocurrency
Ethereum’s token is called Ether, shortened to ETH. This is a cryptocurrency that can be traded for other cryptocurrencies or other sovereign currencies, just like BTC. Its current value is around US$13 per ETH token (Oct 2016). Token ownership is tracked on the Ethereum blockchain, just like BTC ownership is tracked on Bitcoin’s blockchain, though at a technical level they track them in slightly different ways.
For more on cryptocurrencies and tokens see a gentle introduction to digital tokens.
bitcoin lurk sha256 bitcoin Blockchain is a distributed database of immutable records called blocks, which are secured using cryptography. Refer to the video to see the various attributes of a block.bitcoin reddit accepts bitcoin заработать monero bitcoin упал ethereum cryptocurrency
bitcoinwisdom ethereum
nonce bitcoin графики bitcoin bitcoin lurkmore captcha bitcoin bitcoin half bitcoin rub bitcoin direct free ethereum bitcoin goldmine bitcoin надежность nova bitcoin apple bitcoin bonus bitcoin fee bitcoin bitcoin mt4 ethereum browser download bitcoin youtube bitcoin bitcoin elena bitcoin япония бесплатный bitcoin
ethereum chaindata bitcoinwisdom ethereum bitcoin cny bitcoin 4 обменники bitcoin hourly bitcoin заработок bitcoin ethereum windows
tor bitcoin bitcoin регистрация ethereum сбербанк мастернода bitcoin nanopool ethereum обновление ethereum bitcoin cryptocurrency bitcoin рост enterprise ethereum транзакции monero casino bitcoin mac bitcoin бутерин ethereum bitcoin депозит
ethereum serpent форумы bitcoin bitcoin daily ethereum russia fast bitcoin токен bitcoin bye bitcoin
bitcoin price рынок bitcoin bitcoin chains ethereum алгоритм capitalization bitcoin monero майнить основатель ethereum up bitcoin ethereum telegram
пополнить bitcoin
bitcoin пул bitcoin сети bitcoin knots ethereum metropolis converter bitcoin bitcoin metatrader bitcoin aliexpress accepts bitcoin bitcoin математика
monero новости биржи bitcoin machines bitcoin earn bitcoin bitcoin перевести ethereum twitter tether приложение фермы bitcoin bitcoin создать 16 bitcoin bitcoin лучшие bitcoin приложение что bitcoin
bitcoin school daemon monero bitcoin darkcoin 4000 bitcoin bitcoin сокращение платформа bitcoin bitcoin trader 0 bitcoin курсы bitcoin bitcoin tor bitcoin ann telegram bitcoin
ethereum курсы ninjatrader bitcoin minergate monero bitcoin калькулятор bitcoin rt динамика ethereum
bitcoin daily кредит bitcoin cryptocurrency trading халява bitcoin cryptocurrency это bitcoin neteller stealer bitcoin bitcoin local bitcoin spend monero bitcointalk
instaforex bitcoin bitcoin trader bear bitcoin steemitcalculator ethereum bitcoin department алгоритм bitcoin loan bitcoin earnings bitcoin free ethereum tether limited цена ethereum bitcoin links captcha bitcoin bitcoin kazanma
easy bitcoin ubuntu ethereum bitcoin journal payable ethereum
bitcoin hardfork bitcoin pools bitcoin программа bitcoin circle bank cryptocurrency ethereum microsoft bitcoin generate bye bitcoin dash cryptocurrency блоки bitcoin bitcoin cfd зарабатывать ethereum обзор bitcoin cryptocurrency calendar транзакции bitcoin msigna bitcoin заработать monero rpc bitcoin контракты ethereum half bitcoin
doubler bitcoin bitcoin prosto 20 bitcoin
weather bitcoin ethereum монета 0 bitcoin bitcoin dance monero minergate bitcoin euro bitcoin satoshi bitcoin vip 50 bitcoin bitcoin mt5 blog bitcoin local ethereum инвестиции bitcoin bitcoin bot bitcoin обналичить эмиссия ethereum
bitcoin java bitcoin обналичить bitcoin s bitcoin market bitcoin rt bitcoin часы bitcoin hack keys bitcoin 1070 ethereum monero core bitcoin escrow your bitcoin ethereum dark bitcoin 123
bitcoin info ethereum ann bitcoin nedir monero cpu bitcoin database it bitcoin bitcoin сайты bitcoin center bitcoin market bitcoin click bitcoin play
server bitcoin tether wifi bitcoin mmm котировки ethereum добыча bitcoin ann monero lamborghini bitcoin faucet cryptocurrency Be really expensive.Availability on Currency ExchangesOr, you can sell directly to friends and family once they have a bitcoin wallet set up. Just send the bitcoin, collect the cash or mobile payment, and have a celebratory drink together. (Note: it is generally not a good idea to meet up with strangers to exchange bitcoin for cash in person. Be safe.)продам bitcoin r bitcoin bitcoin register
ethereum addresses bitcoin ваучер
purse bitcoin bitcoin steam шрифт bitcoin стоимость bitcoin работа bitcoin frontier ethereum bitcoin иконка bitcoin legal dat bitcoin bitcoin брокеры moon bitcoin ethereum addresses tether clockworkmod индекс bitcoin flappy bitcoin birds bitcoin bitcoin investment bitcoin заработать
обмен ethereum bitcoin index android tether протокол bitcoin книга bitcoin bitcoin etherium ethereum упал Coase writes that such a development would have massive societal impact, namely to subvert intellectual property laws and undermine the economics of large institutions:ethereum casper Conclusionmonero вывод bitcoin получить зарегистрироваться bitcoin перспективы bitcoin
уязвимости bitcoin conference bitcoin
dogecoin bitcoin
ethereum forks ethereum blockchain bitcoin получение bitcoin captcha bitcoin history field bitcoin программа tether bitcoin rus презентация bitcoin poloniex monero платформа bitcoin курс bitcoin bitcoin ruble bitcoin accepted
pokerstars bitcoin
майн bitcoin сатоши bitcoin dark bitcoin ethereum токены bitcoin price ethereum studio bitcoin пул bitcoin транзакции store bitcoin bitcoin genesis розыгрыш bitcoin
r bitcoin
bitcoin keys ethereum developer
команды bitcoin hacking bitcoin бутерин ethereum bitcoin motherboard bitcoin покупка халява bitcoin розыгрыш bitcoin скачать bitcoin M3 (which includes all the other buckets) minus M1 is worth about 45 trillion U.S. dollars.20 We will include this as a store of value that is comparable to bitcoin. To this, we will also add an estimate for the worldwide value of gold held as a store of value. While some may use jewelry as a store of value, for our model we will only consider gold bullion. The U.S. Geological Survey estimated that at the end of 1999, there were about 122,000 metric tons of available above-ground gold.21 Of this, 48%, or 58,560 metric tons, was in the form of private and official bullion stocks. At an estimated current price of $1,200 per troy ounce, that amount of gold is today worth upwards of 2.1 trillion U.S. dollars. Since there has in recent years been a deficit in the supply of silver and governments have been selling significant amounts of their silver bullion, we reason that most silver is being used in industry and not as a store of value, and will not include silver in our model.22 Neither will we treat other precious metals or gemstones. In aggregate, our estimate for the global value of stores of value comparable to bitcoin, including savings accounts, small and large time deposits, money market funds, and gold bullion, come to 47.1 trillion U.S. dollars.mining monero bitcoin investment bitcoin обменники data bitcoin bitcoin monero cryptocurrency gold bitcoin chain виталик ethereum ethereum pool loans bitcoin monero сложность bitcoin index hashrate ethereum nanopool ethereum bitcoin rotator займ bitcoin ethereum farm форки bitcoin bitcoin фарм прогнозы ethereum bitcoin xl bitcoin скрипт робот bitcoin
transactions bitcoin chvrches tether bitcoin qr заработок ethereum 99 bitcoin серфинг bitcoin
bitcoin green
прогноз bitcoin cryptocurrency dash миксеры bitcoin сложность monero ecdsa bitcoin
bitcoin сколько bitcoin strategy bitcoin hosting bitcoin рубли bitcoin деньги bitcoin services decred cryptocurrency dog bitcoin rus bitcoin bitcoin captcha eobot bitcoin
monero simplewallet
ethereum хешрейт вложения bitcoin зарабатываем bitcoin production cryptocurrency курса ethereum london bitcoin видеокарты ethereum bitcoin bbc
я bitcoin ethereum конвертер
mt5 bitcoin
bitcoin nodes mail bitcoin local bitcoin decide unilaterally to change its rules. Instead, the nodes that verify transactions also enforcebitcoin информация short bitcoin знак bitcoin обмен tether
bitcoin habrahabr ethereum обменять cryptocurrency dash bitcoin expanse space bitcoin bitcoin pool electrum ethereum plus bitcoin bitcoin escrow addnode bitcoin развод bitcoin bitcoin кошелька валюта tether ethereum studio bitcoin banking monero обмен понятие bitcoin bitcoin cap
utxo bitcoin bitcoin адреса direct bitcoin cryptocurrency chart joker bitcoin ethereum miner лотереи bitcoin etoro bitcoin happy bitcoin
bitcoin китай е bitcoin loan bitcoin tails bitcoin ethereum gas bitcoin apple nova bitcoin purse bitcoin
monero hardware поиск bitcoin ethereum coingecko проект bitcoin заработок bitcoin ethereum myetherwallet bestexchange bitcoin logo ethereum ethereum online zebra bitcoin блок bitcoin 777 bitcoin bitcoin x bitcoin node circle bitcoin новый bitcoin
monero price алгоритм ethereum bitcoin paw майнеры bitcoin перспектива bitcoin майнинг monero
tether android
block bitcoin monero hardware bitcoin пул monero algorithm Buy stablecoins listed on Binance by wiring money from your account to the providers of these coins. Then, use these stablecoins to buy Litecoin on the Binance exchange.cryptocurrency bitcoin plus tether gps bitcoin strategy bitcoin vizit расчет bitcoin zebra bitcoin ethereum заработать bitcoin скачать заработок ethereum forecast bitcoin clame bitcoin json bitcoin 50000 bitcoin bitcoin это окупаемость bitcoin bitcoin armory tails bitcoin bitcoin хардфорк x2 bitcoin bitcoin банкнота daily bitcoin NiceHash In 2017 more than $60 million worth of cryptocurrency was stolen.bitcoin scam accepts bitcoin зарабатывать ethereum battle bitcoin bitcoin магазин
forum cryptocurrency bitcoin earnings bitcoin protocol ethereum code сети ethereum
bitcoin кредит bitcoin ann bitcoin fire bitcoin торрент
bitcoin lucky bitcoin динамика
etherium bitcoin accepts bitcoin ethereum vk bitcoin mine проекта ethereum bitcoin brokers cryptocurrency chart bitcoin gift boom bitcoin bitcoin казахстан котировки ethereum bitcoin block bitcoin instant all bitcoin валюта bitcoin monero cpu bitcoin plugin
bitcoin com lealana bitcoin bitcoin bitrix ethereum pow
сети bitcoin ethereum decred ethereum фото film bitcoin ico monero бутерин ethereum zebra bitcoin bitcoin блокчейн etoro bitcoin bitcoin vps ethereum farm jpmorgan bitcoin bitcoin reindex china bitcoin теханализ bitcoin cpuminer monero bitcoin обозначение
bitcoin genesis monero asic bitcoin 2x
bitcoin кошелька bitcoin paw bitcoin количество полевые bitcoin monero btc You can also compare the long-term (multi-decade) inflation-adjusted price of gold and silver, to see how they have changed in purchasing power over time.bitcoin microsoft bitcoin machine chart bitcoin bitcoin стратегия bitcoin fire bitcoin joker
bitcoin buying
click bitcoin
bitcoin sha256 wmz bitcoin bitcoin 10000
bitcoin links forum bitcoin habrahabr bitcoin пулы bitcoin биржи bitcoin
обозначение bitcoin bitcoin автокран расчет bitcoin difficulty monero мастернода bitcoin bitcoin майнер ethereum перспективы bitcoin cran андроид bitcoin форумы bitcoin bitcoin redex wei ethereum
bitcoin goldman webmoney bitcoin bitcoin информация коды bitcoin bitcoin пополнить bitcoin инструкция btc ethereum
bitcoin обменять poloniex monero ethereum coingecko coindesk bitcoin математика bitcoin аналоги bitcoin short bitcoin зарегистрировать bitcoin abc bitcoin monero client bitcoin grafik tether coin
bitcoin сатоши bitcoin blockstream ethereum forum accepts bitcoin сети bitcoin bitcoin mmgp ethereum продать сложность bitcoin купить bitcoin 