What is meant by the term “gas”?

An Ethereum application that I want to use talks about needing “gas” to run. What is gas, and where do I get it? ========= ========= 3 Answers 3 ========= Short: Gas is the execution fee for every operation made on ethereum. Its price is expressed in ether and it’s decided by the miners, which can…

How can I create a multisignature address on Ethereum?

I want to store my ether in a form that requires more than one digital signature in order to authorise spends. How do I do on that on Ethereum? ========= ========= 3 Answers 3 ========= “Multisignature” addresses on Ethereum differ from that of Bitcoin. Though both networks allow for arbitrary complex transactions, the concepts are…

What are the different GUI’s available for Ethereum?

Are there any easy to use GUI’s for Ethereum? ========= ========= 4 Answers 4 ========= Yes, the Meteor DApp wallet which provides a decentralized app which allows you to manage accounts, simple wallets, multisignature wallets and smart contracts on top of an eth/geth node. Currently, there are binary releases available by the mist browser developers…

Why does Ethereum plan to move to Proof of Stake?

The initial version of Ethereum (Frontier) uses a Proof of Work based consensus algorithm, but I see that there are plans to implement a Proof of Stake based consensus algorithm called “Casper” in a future version of Ethereum. What is the motivation for the move to implement Proof of Stake in Ethereum, when no other…

How do Ethereum’s transaction fees compare to Bitcoin?

Ethereum has faster transactions than the 10 minutes of standard bitcoin protocol. How do the transaction fees compare at the moment if you translate the price into a comparable currency like dollars or euros? Long-term how are they likely to compare? ========= ========= 2 Answers 2 ========= Every computation on the Ethereum network cost gas,…

What proof of work function does Ethereum use?

The Ethereum frontier network currently uses a proof of work (PoW) based consensus algorithm. But which specific PoW function does that algorithm use, and why was it chosen? ========= ========= 3 Answers 3 ========= The PoW algorithm used in Frontier is called Ethash, and it was created specifically for Ethereum. The primary reason for constructing…

What is a multisignature address? [duplicate]

This question already has an answer here: How can I create a multisignature address on Ethereum? 3 answers What additional advantages would a multi signature address give? Can it create multiple nodes for blockchain broadcasting? ========= ========= 2 Answers 2 ========= Multisignature in the bitcoin sense would typically mean you need n-of-m private keys to…

What is an Ethereum contract?

Ethereum is described as using and enabling the creation of “Smart Contracts”, sometimes called just “contracts”. But what is an Ethereum contract? Is it a legal document, or something else? ========= ========= 3 Answers 3 ========= It is certainly not a legal document. Put simply it is just a piece of code embedded to a…