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Blockchain Developer > Ethereum > Flashcards

Ethereum Flashcards

1
Q

What is the value token for Ethereum?

A

Ether (ETH)

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2
Q

What is the difference between Wei and Ether?

A

Wei is a denomination. 1ETH = 10^18 Wei

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3
Q

What is the average block time in Ethereum?

A

Roughly 12-14 seconds

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4
Q

What is the average block size in Ethereum?

A

Around 2KB

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5
Q

Does Ethereum support scripting?

A

Yes it supports smart contracts

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6
Q

Where do Ethers come from?

A

60 million were created in a presale in 2014. Also, ethers are created when a block is mined.

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7
Q

What is a node?

A

A node is basically a computer, connected to the network, which processes transactions.

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8
Q

How many Ethereum networks are you familiar with?

A

There are 3 types of network - Live Network (Main), Test Network (Ropsten, Rinkeby and Goerli) and Private Network

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9
Q

What are some ways to interact with a network?

A

You can either use a Wallat or a DApp

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10
Q

Can you “hide” a transaction?

A

No. All transactions are visible to everyone

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11
Q

What are the ids of those networks?

A

Live (id=1), Ropsten (id=3), Rinkeby (id=4), Goerli (id=5) , Private (assigned by the developer)

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12
Q

Why would you have a private network?

A

There are many reasons, but mainly because of data privacy, performances, distributed database, permissions control and testing.

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13
Q

How can you easily see details about transactions and blocks?

A

Using a blockchain explorer like etherscan.io

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14
Q

What is consensus in blockchain?

A

The process of validating transactions (creating blocks) following a specific protocol (like Ethereum).

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15
Q

What are the two commonly used consensus models in blockchain?

A

Proof of work and proof of stake.

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16
Q

Explain proof of work in a simple way.

A

It is essentially a puzzle which miners have to solve in order to generate proof of work and validate a transaction. It is computationally intensive.

17
Q

Explain proof of stake in a simple way.

A

The creator of the block is chosen randomly by means of wealth and age (stake). It is not computationally intensive.

18
Q

What consensus model does Ethereum use?

A

Proof of Stake

Blockchain Developer (5 decks)

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