What is Ethereum（ETH）?

Ethernet Square and Smart Contract

 The purpose of the project is to integrate and enhance the concept of script, competency, and chain meta-agreement, enabling developers to create arbitrary, consensus-based, scalable, standardized, well-developed, easy-to-develop and collaborative Of the block chain applications. The Ethereum is built through the ultimate abstraction of the base layer - built-in Turing complete programming language block chain - so that anyone can create contracts and de-centric applications, and in which they are free to define the ownership rules, State transition function. In short, the Ethereum provides infrastructure for block-chain applications.

Smart contract can be compared to an encrypted box that contains value and only certain conditions can be opened, and can be created on the platform of the Ethereum. Smart contract because Turing completeness, value-awareness, blockchain-awareness and multi-state increase the power, and Bibi currency script can provide intelligent contract much more powerful.

Ethereum account and Ether

In the Ethereum system, the state consists of an object called an "account" (each account consists of a 20-byte address) and a transition between the value and the information between the two accounts. The Ethereum account consists of four parts:

  1. Random number, used to determine each transaction can only be processed once the counter;
  2. The current balance of the current account;
  3. Account of the contract code, if any;
  4. Account storage (default is empty).

Ether is the main encryption fuel within the Ethereum, used to pay the transaction costs. In general, there are two types of accounts: There are two types of accounts: external accounts (controlled by private keys) and contract accounts (controlled by contract code). All external accounts have no code, and people can send messages from an external account by creating and signing a deal. Whenever a contract account receives a message, the code within the contract is activated, allowing it to read and write to the internal store, and send another message or create a contract.

Related Links:

Official website: HTTPS: //www.ethereum.org/

EthFans: http: //ethfans.org/

Babbitt White Paper: http: //www.8btc.com/ethereumwhitepaper

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