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Tag: Ethereum

Genesis Block

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The first block of a blockchain is known as a genesis block, and it is normally hardcoded into the application’s program. Many “bits” (containing authenticated transactions and operation data) are joined together by a metaphorical chain in a blockchain. ¿What did the Bitcoin Genesis Block say? Genesis blocks are particularly important because they are the backbone of a blockchain and often contain fascinating stories...

Ethereum, Glossary

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Gwei

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Gwei is a subunit of the Ether (ETH) cryptocurrency on the Ethereum network. A gwei, also known as a gigawei, is the smallest base unit of Ether. It is 1,000,000,000 wei. One gwei is equivalent to 0.000000001 ETH (10-9). In contrast, 1 ETH equals 1 billion gwei. Gwei is a handy way to quantify gas fees (amounts charged to miners for transaction processing). Ethereum sub-units sometimes also have nicknames, like in this case Gwei’s...

Ethereum, Glossary

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Gas

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The fee charged on the Ethereum network in exchange for accessing the platform’s computing resources is referred to as gas. Launching decentralized applications (DApps) and basic transactions like sending ETH between traders all need gas. The invoice is charged in Ether (ETH), the native currency of the site. Gas is consumed in gwei, or tiny increments. 0.000000001 ETH is equivalent to one gwei. The amount of ETH charged in a single...

Ethereum, Glossary

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Blockchain

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A blockchain is a decentralized, peer-to-peer network of computers that maintains and verifies a public ledger of transactions using a consensus process to validate records. In a blockchain network, each computer keeps its own copy of the public database, making it virtually impossible for a single computer to change any previous transactions or for malicious actors to overload the network. Blockchain is the tech that underpins bitcoin,...

Blockchain, Ethereum, Glossary

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Ethereum Berlin

Ethereum Berlin

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Ethereum takes another step towards 2.0 with the Berlin fork The Ethereum project recently deployed the Berlin fork. Berlin aims to solve some of Ethereum’s growth problems and make scaling easier than ever. This is an important step in the development of the Ethereum network. What is Berlin Hard Fork on Ethereum? The Ethereum Berlin is a hard fork. Its objective is to solve various problems...

Ethereum, Featured

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