Bitcoin uses Blocks, Ethereum uses ???

Can someone give me a short (less than 2-3 minutes) explanation of what technology Ethereum uses to pass information around the network, and how that is structured and propagated?

And any pointers to where I can read more.

Thanks!

Comments

  • MarioFortierMarioFortier Boston, MAMember Posts: 30
    edited September 2014
    Ethereum uses blocks too... when talking specifically about how Ethereum maintains its public ledger (blockchain), it uses techniques similar to Bitcoin (and other crypto-currencies).

    Vitalik's white paper might be a good starting point:
    http://www.ethereum.org/pdfs/EthereumWhitePaper.pdf
  • StephanTualStephanTual London, EnglandMember, Moderator Posts: 1,282 mod
    TL;DR: everyone shares a copy of the ethereum 'database'. Every 12.7 seconds all computers come to an agreement on the state of that database. They do it by voting, majority always wins. They are incentivized to vote because voting enters you in a lottery where you can win ether. Winners tell the truth because while winning the lottery is hard, it's trivial for the other computers to check if the winner lied or not, and everyone has an incentive to keep the lottery going.
  • chloregychloregy Member Posts: 11
    edited September 2014
    ok thanks Stephan for the short answer. I'll read the WP if I get time, some day. :|

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