FAQ
Blockchain Fundamentals
What is a blockchain?
A blockchain is a digital record of transactions shared across a network.
What is blockchain software?
It’s a program that manages and supports blockchain networks and applications.
What is a blockchain database?
It’s a secure, unchangeable database that stores blockchain transaction records.
What is a blockchain system?
It’s a network where transactions are recorded and verified on a blockchain.
How does a blockchain work?
Transactions are grouped into blocks, verified by the network, and linked together securely.
What is a blockchain application?
It’s an app built on blockchain technology, like cryptocurrency wallets or DeFi platforms.
What are the benefits of blockchain technology?
It offers security, transparency, faster transactions, and no need for intermediaries.
What is the blockchain revolution?
It’s the shift towards decentralized, transparent systems powered by blockchain.
What is decentralized finance (DeFi)?
DeFi refers to financial services built on blockchain, like lending and trading, without banks.
What is a block in a blockchain?
A block is a group of verified transactions added to the blockchain.
What is block time?
It’s the time it takes to add a new block to the blockchain.
What is distributed ledger technology?
It’s a system where transaction records are shared across multiple devices.
What is a blockchain wallet?
It’s a digital wallet that stores and manages your cryptocurrency.
What is blockchain programming?
It’s coding that creates blockchain networks and applications.
What is a blockchain company?
A company that develops blockchain-based products or services.
What is a private blockchain?
A blockchain where access is restricted to specific users or organizations.
What are zk-SNARKs?
They are cryptographic proofs that verify transactions without revealing details.
Ethereum Fundamentals
What is Ethereum?
Ethereum is a blockchain that allows smart contracts and decentralized apps (dApps).
How does Ethereum work?
It uses a blockchain to record transactions and execute smart contracts.
What is an Ethereum block?
It’s a set of Ethereum transactions that gets added to the blockchain.
What is an Ethereum smart contract?
It’s a self-executing code on the Ethereum blockchain that runs automatically.
What is an Ethereum client?
It’s software that connects to the Ethereum network to process transactions.
What is Ethereum backed by?
It’s supported by its technology, developers, and user community.
What is ether (ETH)?
ETH is the native cryptocurrency used on the Ethereum network.
What is an ETH address?
It’s a unique code used to send and receive ether (ETH).
How can I earn ether (ETH)?
You can earn ETH by staking, mining (before the merge), or providing services.
How long does it take to transfer ether?
It usually takes a few seconds to minutes, depending on network congestion.
What is the gas limit in Ethereum?
It’s the maximum amount of work required to complete a transaction.
What is Ethereum coded in?
It’s mainly coded in Solidity, a programming language for smart contracts.
What is Ethereum used for?
It’s used for smart contracts, DeFi, NFTs, and other blockchain-based applications.
What is the Enterprise Ethereum Alliance?
It’s a group of companies working together to advance Ethereum adoption.
Bitcoin vs. Ethereum
What’s the difference between Bitcoin and Ethereum?
Bitcoin is mainly digital money, while Ethereum supports smart contracts and dApps.
What’s better, Bitcoin or Ethereum?
Bitcoin is better for storing value, while Ethereum is more versatile for applications.
Ethereum Roadmap
What is Byzantium Ethereum?
It was a major Ethereum upgrade improving privacy and smart contract efficiency.
What is Proof of Stake (PoS) Ethereum?
It’s a system where users validate transactions by staking ETH instead of mining.
What’s next for Ethereum?
Future upgrades aim to improve scalability, security, and energy efficiency.
Ethereum Mining
What is Ethereum mining?
It was the process of validating transactions and earning ETH, but it ended with Ethereum’s switch to Proof of Stake.
How long does it take to mine Ethereum?
Ethereum mining is no longer possible after the Proof of Stake upgrade.
What is the hashrate of Ethereum?
Hashrate measures computing power, but Ethereum no longer uses mining.
Can I mine Ethereum?
No, Ethereum can’t be mined anymore after switching to Proof of Stake.
Can my computer mine Ethereum?
No, mining is no longer possible on any device due to the PoS system.
What is Ethereum difficulty?
It measured how hard it was to mine ETH before Ethereum switched to PoS.
What do you need to mine Ethereum?
Mining is no longer supported, but staking ETH is available.
Can you mine Ethereum on a laptop?
No, mining is no longer possible after Ethereum’s upgrade.
Can you mine Ethereum on a Mac?
No, Ethereum cannot be mined anymore.
How much Ethereum can I mine in a day?
Mining is no longer possible, but you can earn ETH by staking.