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Let TX be the block's transaction list, with n transactions. For all i in 0...n-1, set S = APPLY(S,TX). If any application returns an error, or if the total gas consumed in the block up until this point exceeds the GASLIMIT, return an error.being the most invested in the Bitcoin economy,10 millennials as a cohort areccminer monero hashrate bitcoin

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Ethereum engineers have been working on sharding the calculations, and the next step (Ethereum 2) was presented at Ethereum's Devcon 3 in November 2017.bitcoin oil We’ve come to one of the most complex parts of the Ethereum protocol: the execution of a transaction. Say you send a transaction off into the Ethereum network to be processed. What happens to transition the state of Ethereum to include your transaction?

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Key Differences
Let’s look at the main differences between Ethereum vs Bitcoin, some of which you can see by comparing the basics I just mentioned!

Their Concepts

When you think of Bitcoin, think “digital money”. When you think Ethereum, think “smart contracts”. This is the easiest way to understand and remember the primary difference between Bitcoin and Ethereum!

Their Purposes

Bitcoin is a store of value and a way to send money to someone. Ethereum is also a way to send money to someone, but only when certain things happen.

Ethereum also differs by serving as a building platform for dApps/smart contracts, which allow it to send tokens that represent values. These values can be things other than digital currencies, making it different from Bitcoin.

Their Transactions

Bitcoin’s transactions look like this:

Jade sends 10 BTC (Bitcoins) to Pete.

Ethereum’s transactions run on smart contracts and look like this:

Send 10 ETH (Ether) from Jade to Pete if Jade’s balance is 15 ETH and the date is 12.01.2020.

So, Bitcoin’s transactions are manual and Ethereum’s transactions are automatic / programmable!

The Speed of the Transactions

Ethereum’s block time (transaction speed) is just seconds. Bitcoin’s block time, however, is minutes.

The Currencies: Ether vs Bitcoin

Ether is designed to fuel the Ethereum network and power transactions — think of it as gas.
Bitcoin is used to be the value of real-world transactions — think of it as money.
Their Coin Supply

Bitcoin is limited to 21,000,000 coins. This creates supply and demand, which is healthy for a store of value.

Ethereum, however, is not limited. The production of Ether is continuous. The supply of Ether will slow down a lot over time though.

Vitalik Buterin, the founder of Ethereum, stated that the total number of coins will not reach more than 100,000,000 ETH in the “foreseeable future”.

Their Ages

Ethereum is 6 years newer than Bitcoin and is further advanced.



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