# Ethereum



## DB008 (23 March 2018)

​
No doubt that many of you have heard about this 'crypto/token'

In the crypto world - many refer to Bitcoin as 1.0, Ethereum as 2.0 and some newer crypto's as 3.0's

This is from Wiki:

*Ethereum* is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction based state transitions.

*Ether* is a cryptocurrency whose blockchain is generated by the Ethereum platform. _Ether_ can be transferred between accounts and used to compensate participant mining nodes for computations performed. Ethereum provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. "Gas", an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.

Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014. The system went live on 30 July 2015, with 11.9 million coins "premined" for the crowdsale. This accounts for approximately 13 percent of the total circulating supply.

In 2016, as a result of the collapse of The DAO project, Ethereum was split into two separate blockchains – the new separate version became Ethereum (ETH), and the original continued as Ethereum Classic (ETC). The value of the Ethereum currency grew over 13,000 percent in 2017.

https://en.wikipedia.org/wiki/Ethereum​

*Ethereum Project *

https://www.ethereum.org/
http://www.ethdocs.org/en/latest/​
Ethereum also became very popular because of it's ease of hosting ICO's (Initial Coin Offerings) on their platform, they are usually referred to as dApps (Decentralized Applications).

Features of Dapps:

Open Source. Ideally, it should be governed by autonomy and all changes must be decided by the consensus, or a majority, of its users. Its code base should be available for scrutiny.

Decentralized. All records of the application’s operation must be stored on a public and decentralized blockchain to avoid pitfalls of centralization.

Incentivized. Validators of the blockchain should be incentivized by rewarding them accordingly with cryptographic tokens.

Protocol. The application community must agree on a cryptographic algorithm to show proof of value. For example, Bitcoin uses Proof of Work (PoW) and Ethereum is currently using PoW with plans for a hybrid PoW/Proof of Stake (PoS) in the future.
If we adhere to the above definition, the first Dapp was in fact Bitcoin itself. Bitcoin is an implemented blockchain solution that arose from problems revolving around centralization and censorship. One can say Bitcoin is a self-sustaining public ledger that allows efficient transactions without intermediaries and centralized authorities.

I can definitely say that sending Ether (using GAS) is cheap and fast. A whole lot faster than Bitcoin (for the moment). There have been some issues with Ethereum - scaling (sharding) is being worked on at the moment. Ethereum is also to get zk-Snarks and Ring signatures (like Monero - total privacy)


*Proof-of-Work*​Most blockchains run on ‘proof-of-work’ which means that miners solve cryptographic puzzles to mine a block to the blockchain. These puzzles get harder over time and requires a lot of energy and computing power.

The problem with ‘proof-of-work’ is that it’s becoming more and more centralized. This means that a few mining companies control the hashrate of Bitcoin. As of right now, 71.2% of the hashrate is controlled by five mining pools.

As the cryptographic puzzles become more challenging, it requires more hardware and energy which is also very expensive. This makes it harder for anyone to mine, which further centralizes to a few mining pools.

Why is this bad? If these five mining pools coordinated, they can unleash a 51% attack. The attackers would be able to prevent new transactions from gaining confirmations, allowing them to halt payments between users. An event like this could possibly even legitimize a different blockchain such as Bitcoin Cash.


*Proof of Stake
*​Ethereum’s solution to this is to move towards ‘proof-of-stake’. This means that validators (instead of miners) will have to put up Ether as a stake and then ‘validate’ blocks by placing a bet on it. If the block gets appended, you will get a reward proportional to your stake. If you bet on the wrong block, your stake will be taken away.

Proof-of-stake also helps solves some of the problems with proof-of-work. It helps achieve decentralization, energy efficiency, and helps Ethereum scale.


*Casper
*​This is the name of the ‘proof-of-stake’ protocol for Ethereum. There are two version of Casper. One is being led by Vlad Zamfir who has been at the forefront of Ethereum’s development. The other is called FFG (friendly finality gadget) that is being led by Vitalik Buterin.​
Similarly, there will be stakers who “stake” their coins by locking them down in special wallets. These stakers will be rewarded through an annual dividend of ether. So, the more ETH you stake, the larger your dividends will be.

In PoS, no matters what happens, you will always win and have nothing to lose. The only way to lose your stake is if you maliciously validate wrong blocks.

Casper moves towards a “proof of stake” consensus which prevents a 51% attack from ever happening. Temporary and sustained 51% attacks hold key implications for Ethereum’s future. Casper secures it further.


*Transaction Chart*​



*Price Chart*


​

Transactions can also be checked on the blockchain

https://etherscan.io/

https://ethplorer.io/

MyEtherWallet is also a great site that is an interface for the Ether blockchain

https://www.myetherwallet.com/​
There have been lots of phishing attempts on addresses. Please, please, please do not fall for these. Always double-check the address and bookmark it. Google has recently stopped crypto searches and there are more and more scam addresses popping up. Binance was also the victim of a highly orchestrated hack that was caught before it could be executed. Binance have put out a $250,000 bounty that leads to arrests of anyone involved.

https://support.binance.com/hc/en-us/articles/360001615252-Binance-Hacker-Bounty​

I would also recommend an app called Cryptonite that l'm using in Chrome.

https://next.metacert.com/cryptonite/​This extension protects you from phishing sites. The MetaCert shield turns green when you visit certified Cryptocurrency websites.

The green padlock is meaningless because SSL certs are free and automatically issued to phishing sites.
​Here is one of my Ether wallets (nothing in it) if you want to search it in etherscan and have a play around. Public address is :


0xe1d6D1fC5fbb8D86C9097226088977446056C79A​


Helpful link for reading

https://hackernoon.com/the-beginners-guide-to-ethereum-s-2020-roadmap-2ac5d2dd4881​


----------



## kid hustlr (23 March 2018)

I didn't know we were allowed to create threads talking our book?


----------



## DB008 (27 March 2018)

Jackson does great youtube clips on various cryptos. He was involved in Dogecoin


​


----------



## DB008 (17 May 2018)

Great little article on Ethereum


----------



## frugal.rock (24 November 2020)

I see you have been talking to yourself about Ethereum.
Did a search, and this is the only thread with it in the the title.

With the markets moving to crypto's lately, ETH can back to mind from when I did research into Bitcoin some years ago.
At the time, I decided not to invest, it would've  been an investment for the long term with BTC increasing in value. BTC has since nearly doubled, so hindsight says it would have been ok then.

This leads me to remembering that I thought ETH was going to be the other main crypto moving into the future.
Considering the money side getting tied up.
Thinking of treating it like a medium/ long term trade and putting a position into it of around $4000...
No idea how to go about buying it? Digital wallets etc.
ETH chart from birth. 
1 month bars. Has really jumped up over the last week or 2.


----------



## noirua (28 November 2020)

Polish city becomes first to adopt Ethereum blockchain for emergency services
					

A city in northeast Poland is using the Ethereum blockchain to deliver faster and more efficient rescue services.




					cointelegraph.com


----------



## noirua (1 December 2020)

Bitcoin and Ethereum: https://cointelegraph.com/news/no-need-to-fear-the-bitcoin-fud-says-sino-global-capital


----------



## frugal.rock (4 January 2021)

frugal.rock said:


> This leads me to remembering that I thought ETH was going to be the other main crypto moving into the future.
> Considering the money side getting tied up.
> Thinking of treating it like a medium/ long term trade and putting a position into it of around $4000...
> No idea how to go about buying it? Digital wallets etc.



I didn't buy. Goodbye boat.


----------



## noirua (4 March 2021)

Whales Are Preparing for Bitcoin and Ethereum Rallies As Four Altcoins Outperform the Market: Santiment - The Daily Hodl
					

In a new report on market conditions, crypto analytics firm Santiment says large Bitcoin and Ethereum holders appear to be readying themselves for a rally.




					dailyhodl.com
				



_“Ethereum’s top 10 non-exchange whale addresses are now holding the most combined supply of ETH tokens (16.86M) since July, 2016. On March 1st, a single-day addition of 1.03M tokens was added among these addresses, the highest one-day jump in 6 weeks!“_


----------



## noirua (4 May 2021)

Price analysis 5/3: BTC, ETH, BNB, XRP, DOGE, ADA, DOT, UNI, LTC, BCH
					

Ethereum and a handful of altcoins have charged higher while Bitcoin struggles to find enough momentum to clear the $58,000 level.




					cointelegraph.com
				



Ether has now become the 24th largest asset in the world, vaulting the project above blue-chip names like Mastercard, NVIDIA, Walt Disney, Bank of America, and Home Depot, according to data from Infinite Market Cap. This strong performance in Ether has also brought back murmurs of Ethereum flippening Bitcoin (BTC).


----------



## moXJO (4 May 2021)

I'm into eth. Simply because of the utility of the coin. All these games, nfts, and various other digital crap uses the etc network. 

I'm learning a lot from the nft market and it's a completely different world. It reminds me of the internet in the 90s. There is some hot stuff coming through and I'm slowly understanding the system and networks.


----------



## noirua (10 May 2021)

Ethereum continues wild run — ETH price breaks $4,000 for the first time
					

Could network upgrades from EIP-1559 and Eth2 push Ether even higher?




					cointelegraph.com
				



Part of the rise may be linked to increasing institutional interest in the asset. This week, a Coinshares report said that institutions bought over $30 million in ETH at the end of April. Money managers are thought to now own $13.9 billion in ETH or ETH vehicles.


----------



## moXJO (11 May 2021)

noirua said:


> Ethereum continues wild run — ETH price breaks $4,000 for the first time
> 
> 
> Could network upgrades from EIP-1559 and Eth2 push Ether even higher?
> ...



Majority of nfts run off eth network. To tell you the truth bitcoin looks done from a utility point of view. Perhaps it will remain a store of wealth, but I can't really see the point of it. 

The coin you want to invest in now is one that makes eth network cheaper or does it better than eth. I don't think eth is a fantastic system either as the gas fees are ridiculous. But better than bitcoin. Wouldn't surprise me if bitcoin money filters to eth.

I was loaded up on eth and matic before the current pump.


----------



## noirua (28 July 2021)

10 Largest Ethereum Whales on Record Now Hold $48 Billion in ETH Shattering 5-Year High: Blockchain Analytics Firm Santiment - The Daily Hodl
					

The biggest Ethereum whales across the globe are accumulating ETH, according to blockchain analytics firm Santiment.




					dailyhodl.com
				



Santiment says the largest Ethereum wallets that are not owned by crypto exchanges are holding a total of 21.3 million ETH this week, shattering a five-year high. At the time of writing, the supply held by Ethereum mega whales is worth about $48.9 billion.

Ethereum live chart: https://uk.advfn.com/p.php?pid=staticchart&s=COIN^ETHUSD&t=1&p=0&dm=0&vol=0&width=300&height=165&max_pre=0&min_after=0


----------



## noirua (29 July 2021)

Family 'Loses Access' to $6,900,000 Worth of ETH, Says They Never Received Wallet File From Ethereum Foundation - The Daily Hodl
					

A family is seeking help from the public to retrieve a wallet file containing millions of dollars' worth of Ethereum (ETH) from the Ethereum Foundation.




					dailyhodl.com
				



According to the GoFundMe page, the family is raising $250,000 to pay for the legal battle.


----------



## Garpal Gumnut (29 July 2021)

noirua said:


> Family 'Loses Access' to $6,900,000 Worth of ETH, Says They Never Received Wallet File From Ethereum Foundation - The Daily Hodl
> 
> 
> A family is seeking help from the public to retrieve a wallet file containing millions of dollars' worth of Ethereum (ETH) from the Ethereum Foundation.
> ...



I took this problem to the Probability Committee at the Early Session this morning here at the hotel. 

They took in to account the historicity of the claim, the availability of legal expertise and the fact that the VB tap was giving cloudy pots.

Their conclusion was that pigs might fly over his urn before old Yukiko gets his wallet back.

gg


----------



## qldfrog (29 July 2021)

Go fund me, so if i understand well, i can pay so that they can pay lawyers and become filthy rich.
Hummm i will pass


----------



## noirua (1 August 2021)

Crypto Whales Relocate Over $500,000,000 in Ethereum in Matter of Hours – Here’s Where the ETH Is Heading - The Daily Hodl
					

A massive amount of Ethereum (ETH) worth half a billion dollars is on the move, as crypto whales relocate their ETH troves.




					dailyhodl.com
				



The trail of transactions, which goes as far back as nearly a year, indicates that the controlling entity appears to be emptying wallets and relocating the ETH trove to new addresses.


----------



## moXJO (6 August 2021)

Nft market is going insane. The big returns are in this market currently.


----------



## noirua (8 August 2021)

Ethereum Is the ‘Greatest Trade,’ Says Macro Analyst Raoul Pal – Here’s Why - The Daily Hodl
					

Macro analyst and former Goldman Sachs executive Raoul Pal says that Ethereum (ETH) presents one of the best trading setups he has ever seen.




					dailyhodl.com


----------



## noirua (9 August 2021)

Ethereum Torches Over $46,000,000 in ETH Just Three Days After Critical Update - The Daily Hodl
					

Etherchain, an Ethereum on-chain tracking tool, indicates that the leading smart contract platform has burned thousands of ETH just three days after implementing a crucial update.




					dailyhodl.com


----------



## qldfrog (10 August 2021)

noirua said:


> Ethereum Torches Over $46,000,000 in ETH Just Three Days After Critical Update - The Daily Hodl
> 
> 
> Etherchain, an Ethereum on-chain tracking tool, indicates that the leading smart contract platform has burned thousands of ETH just three days after implementing a crucial update.
> ...



Crypto were moving fast this night bought eth and btc earlier in the evening and they shot up madly..nearly too quick as i intend to keep these for a while


----------



## noirua (23 January 2022)

3 possible reasons why Polkadot is playing second fiddle in the L1 race
					

Two factors may have impacted Polkadot’s token price and its competitiveness against other layer-one protocols.




					cointelegraph.com
				



2021 was a sort of "coming-of-age" for many layer-one (L1) blockchain protocols because the growth of decentralized finance (DeFi) and nonfungible tokens (NFTs) forced users to look for solutions outside of the Ethereum (ETH) network where high fees and network congestion continued to be barriers for many.


----------



## noirua (26 January 2022)

Eth2 is no more after Ethereum Foundation ditches name in rebrand
					

We are all Ethereum now: Under the new terminology, the combination of the execution layer (Eth1) and the consensus layer (Eth2) will be labeled as Ethereum.




					cointelegraph.com


----------



## noirua (28 January 2022)

ETH to hit $20-trillion market cap by 2030: Ark Invest
					

American crypto investment manager ARK Invest released a new report predicting Ether will reach a $20 trillion market cap and Bitcoin will exceed $1 million per BTC by 2030, based on current and potential future trends.




					cointelegraph.com


----------



## noirua (10 June 2022)

NFTs: everything you need to know
					

22 burning questions – and answers – about the insanely lucrative, uniquely confusing, distressingly scammy, and quite possibly revolutionary world of non-fungible tokens




					www.gq-magazine.co.uk
				



In essence, an NFT, or non-fungible token, is just a record that someone owns something.

That record lives on the Ethereum blockchain – an ongoing, impossible-to-fake public ledger that shows everyone who’s ever owned the thing in question. (So even if someone can copy and paste your cartoon of an ape, the real one – the _only_ real one – is clearly and incontrovertibly yours.)

Of course, NFTs aren’t just small artworks – they can serve as contracts or tickets to events or memberships in clubs. And, in some cases, they’re shockingly valuable: it’s not unheard of for certain NFTs to run to six figures.

And, uh, people spent around £15 billion buying and selling these things last year. But that’s getting ahead of ourselves. What NFTs _are,_ fundamentally, is that record of ownership – the thing that’s owned is almost secondary.


----------



## noirua (10 June 2022)

Mastercard to allow 2.9B cardholders to make direct NFT purchases
					

Card payments for NFTs were first announced in association with Coinbase’s latest NFT marketplace in January.   Continue reading...



					uk.advfn.com
				



The financial service provider announced that it has been working on expanding their payment networks to NFTs over the past year. 
The firm has partnered with a number of leading NFT marketplaces to allow 2.9 billion cardholders to directly make NFT purchases without buying crypto first.


----------



## Garpal Gumnut (18 June 2022)

My guess would be that there will be a big switch from BTC to Ethereum over the next month or so. 

Ethereum is not just a coin but also a process...blockchain. 

I quite like the idea, except that to regularise transfer of ETH and stop mining a process called MERGE will occur in August/September which has risks in an attempt to stabilise the transfer of ETH using 98% less energy. 

I'm looking at ETH carefully. 

I don't intend to buy atm. 

BTC is toast by the way. 

gg


----------



## moXJO (19 June 2022)

Garpal Gumnut said:


> My guess would be that there will be a big switch from BTC to Ethereum over the next month or so.
> 
> Ethereum is not just a coin but also a process...blockchain.
> 
> ...



Just wait for the "eth 2.0 merge".
That's where everyone that invested everything into eth, has to all move together into the same 1 bedroom flat.


----------



## JohnDe (16 September 2022)

> *What is the Ethereum merge? (in 60 seconds)*
> 
> What is the ethereum merge? Here's a super quick summary of the change from Proof of Work to Proof of Stake and what that means for the future of Ethereum (in 60 seconds)


----------



## noirua (17 September 2022)

Ethereum Tumbles After 'Merge,' Bitcoin, Dogecoin Drop: Trader Sees 2nd-Biggest Crypto Sliding To $800 If This Happens - Bitcoin  (BTC/USD), Ethereum  (ETH/USD), Dogecoin  (DOGE/USD)
					

Major coins fell sharply on Thursday evening as the global cryptocurrency market cap lost 4% to $960.8 billion at 8:15 a.m. EDT.




					www.benzinga.com


----------



## Garpal Gumnut (17 September 2022)

noirua said:


> Ethereum Tumbles After 'Merge,' Bitcoin, Dogecoin Drop: Trader Sees 2nd-Biggest Crypto Sliding To $800 If This Happens - Bitcoin  (BTC/USD), Ethereum  (ETH/USD), Dogecoin  (DOGE/USD)
> 
> 
> Major coins fell sharply on Thursday evening as the global cryptocurrency market cap lost 4% to $960.8 billion at 8:15 a.m. EDT.
> ...



It is a crazy investing scenario atm no matter where one invests or in what.

ETH makes the most sense of all the Crypto trading platforms with future usefulness beyond a mere coin. 

Buy the speculation and sell the news would be the best assessment. 

gg


----------

