Bitcoiners Crying About Ethereum's Blockchain Size While Not Knowing it's Running at the Same 1MB Every 10 Minutes as Bitcoin
January 08, 2019 8:31 PM Discuss Ethereum is currently handling 800,000 transactions a day, bitcoin is at around 200,000. The two are fundamentally similar, so then it must mean ethereum simply has a bigger blocksize It is an assumption bitcoiners very understandably make. We did too once and found out to be very mistaken when the sudden coming into life of ETC shocked us fully for we thought eth would have the same difficulty re-adjustment as bitcoin. It doesn't. Eth re-calculates those Proof of Work difficulties every block, unlike bitcoin which does so every two weeks. A slight change, but big consequences where assumptions are concerned.
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What is the Ethereum Blockchain | Genesis Mining Genesis Mining Twitter Facebook Youtube VKontakte Instagram Linkedin Medium Mastercard Visa Genesis Mining
December 23, 2018 10:16 PM Discuss Cryptocurrency has gained a lot of traction in the past decade, especially with the rise of Bitcoin. But more recently, a new rising star has entered the game Ethereum. In fact, interest in this cryptocurrency is so high, forecasts speculate the price of graphics cards may be driven up, as miners attempt to generate as much currency as possible. Founder Vitalik Buterin said to Wired Magazine, When I came up with Ethereum, my first thought was, okay this thing is too good to be true and I'm going to have five professional cryptographers raining down on me and telling me how stupid I am for not seeing a bunch of very obvious flaws. Two weeks later I was extremely surprised that none of that happened.
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How Ethereum Works - CoinDesk
December 23, 2018 11:52 AM Discuss Now that we've covered what ethereum is, let's dive deeper into how the platform functions under the hood. Consider the online notebook application described in What is Ethereum? Using ethereum, the app doesn't require one entity to store and control its data. To accomplish this, ethereum borrows heavily from bitcoins protocol and its blockchain design, but tweaks it to support applications beyond money. Ethereum aims to abstract away bitcoin's design, however, so that developers can create applications or agreements that have additional steps, new rules of ownership, alternative transaction formats or different ways to transfer state.
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Görli Testnet Set to Undergo Preliminary Testing for Ethereum Blockchain Developers
December 22, 2018 10:24 AM Discuss After several months of development, the Görli testnet on the Ethereum blockchain is ready for the pilot testing phase. The Görli testnet operates on a proof-of-authority consensus algorithm. However, its standout features are its compatibility with several clients programmed in different languages. This functionality is included to make Görli available to as many developers as possible. Before the completion of the latest prototype, several versions had failed due to compatibility issues. The Görli testnet was intercepted at the ETHBerlin hackathon earlier this year. Back then, Afri Scohedon form Parity teamed up with Chainsafe Systems to develop a revolutionary public testnet on the Ethereum blockchain. The main activity involved the porting of the proof-of-authority consensus mechanism to assist in the creation of Görli.
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