Ethereum

Ethereum is a Cryptocurrency - 20230221095537 similar to Bitcoin - 20230215071646.

If you consider Bitcoin as trustless validation and distributed storage of (transaction) data, Ethereum is trustless validation and distributed storage and processing of data and logic.

On Ethereum, you can submit transactions that create Smart Contracts.

When you submit an Ethereum transaction, you specify a gas price (how much ETH you are willing to pay per gas used) and a gas limit (the maximum amount of gas you will let the transaction use).

Mining fee (in ETH) = gas price (in ETH per gas) x gas consumed (in gas)

Ethereum accounts can store either ETH or Smart Contracts.

Differences with Bitcoin - 20230215071646

• The time between blocks is around 14 seconds, compared with Bitcoin’s ~10 minutes.
• Generation continues indefinitely.
• Ethereum is influenced by §Vitalik Buterin, its creator.

META

Status:: #wiki/notes/embryo
Plantations:: Cryptocurrency
References:: The Basics of Bitcoins and Blockchains