Proof-of-Work (PoW)</strong></a> consensus algorithm used to mine Ethereum&rsquo;s native cryptocurrency, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-ether/">Ether. It is used to <strong>adjust the difficulty of the</strong> <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-mining/">mining process</strong></a>.</p>\n<p>Ethereum is a blockchain-based, open-technology platform that offers many opportunities for decentralization and <strong>digital development</strong>. Using <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contracts</strong></a>, developers can create <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-are-decentralized-applications-dapps/">decentralized applications (DApps)</strong></a>. Ether, the native cryptocurrency on the Ethereum blockchain, can be used for various transactions.</p>\n<p><strong>Proof-of-Work mining</strong> that Ethereum 1.0 uses occurs by taking data from a block header, using it as an input, and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hash/">hashing it via the <strong>cryptographic method</strong>. The outcome is a fixed-length output that determines the hash value. Once the data is submitted to initiate the process, Ether miners use new sequence numbers to hash different variants of the input data.</p>\n<p>Ethash provides <strong>improvements on the prior version of Proof-of-Work mining</strong>, <a href=https://www.bitdegree.org/"https://eth.wiki/concepts/dagger-hashimoto/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Dagger-Hashimoto</strong></a>, which required higher computational costs. Instead, Ethash uses a vast and expanding dataset that is compact enough for the <a href=https://www.bitdegree.org/"https://en.wikipedia.org/wiki/Video_random_access_memory/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong><strong>VRAM</strong></strong></a> of a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-graphical-processing-unit-gpu/">GPU.

/n

The hash value produced via Ethash must be below the provided threshold, which determines the difficulty. The Ethereum network regularly adjusts the threshold to be more or less difficult. This manages the <strong>mining pace</strong> &ndash; if the mining pace rises, the difficulty level is automatically increased and the threshold along with the number of valid hashes is lowered.</p>\n<p>Similarly, if the <strong>mining pace slows down</strong>, the network increases the threshold. This leads to a higher number of discoverable valid hash values.</p>\n<p>Ethash can help determine how many computing resources a miner requires to locate the sequence number, or <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-nonce/">nonce, which makes it possible to propose new <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-block/">blocks to be added to the chain. On average, a new block is generated every 12 seconds.</p>\n<p>Miners often adjust the memory clock frequency of the GPU. This helps them <strong>yield more Ethash hash rates</strong>. This process produces more heat and requires higher electrical resources. Therefore, miners may rely on manually managing power control or setting their fans to higher speeds.</p>\n<p>Those involved in Ether mining may <strong>build custom PCs containing six or more powerful GPUs</strong>. This helps achieve cost-effective mining. The strategy of using custom-built PCs is often employed by <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-mining-farm/">crypto mining farms</strong></a>.</p>\n<p>The <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-block-reward/">rewards for a successfully discovered block that can be added to the chain are:</p>\n<ul>\n<li>A <strong>static block reward</strong> (3 ETH);</li>\n<li>The <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-gas-price/">gas fees</strong></a> of the mining process are covered by the execution of all transactions recorded in the block;</li>\n<li>Additional rewards for including <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-stale-block/">stale blocks</strong></a>, or uncles, in the block.</li>\n</ul>\n<p>Ethash is designed to be <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-asic-resistant/">ASIC-resistant, thus making the overall process of mining Ether fairer. &nbsp;It is expected that Ethereum 2.0 will move from Proof-of-Work to the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-proof-of-stake-pos/">Proof-of-Stake (PoS)</strong></strong></a> consensus algorithm, taking the Ethash mechanism out of commission.</p>","level":"medium","meta_title":"What is Ethash? 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href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-exchange/">crypto exchange platform</strong></a>. The assets contained in the basket can be <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrencies, bonds, commodities, and stocks, to name a few.</p>\n<p>ETFs are similar to mutual funds since they <strong>allow investors to diversify their returns and include several asset classes combined</strong>. However, unlike ETFs, mutual funds can only be traded once a day, during the closing hours of the market.</p>\n<p>The prices of ETFs tend to fluctuate throughout the day with each sale. Investors trade ETFs as means to diversify their <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-portfolio/">portfolios, since the assets in the basket may be invested in several different sectors. However, in some cases, an ETF may be invested in only one sector.</p>\n<p>ETFs are used to track the performance of single market indexes like <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-sandp-500-standard-and-poors-500/">S&amp;P 500</strong></a> or FTSE 100. SPDR S&amp;P 500 ETF Trust (SPY) is used to track the S&amp;P 500 index, while the iShares Russell 2000 (IWM) tracks the small-cap index of Russell 2000.</p>\n<p>The costs of exchange-traded funds are considered to be low, particularly with regards to passively managed ETFs that track the performance of an index. Some ETFs may be managed actively. In this case, portfolio managers take the role of ETF management and make investment decisions that may not be based on the performance of the underlying index.</p>\n<p>There are two key <strong>tax advantages</strong> of opting for an exchange-traded fund instead of mutual funds. For starters, the capital gains tax only applies when the ETF is sold. Unlike with ETFs, the capital gains tax of mutual funds changes throughout the entire period while the investor holds the portfolio, known as the investment horizon.</p>\n<p>ETF investors are also able to take part in <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-short/">short selling. During this trading process, they can sell stocks that they do not own and buy them back later, when the price of the security is lower.</p>","level":"medium","meta_title":"What is Exchange Traded Fund (ETF)? 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A typical transaction in which an Externally Owned Address (EOA) delivers ETH to another EOA. Token transfers are transactions involving <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-erc-20/">ERC-20 or <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-erc-721/">ERC-721 </strong></a>tokens. An internal transaction is an ETH transfer that is facilitated by a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contract</strong></a> acting as an intermediary.</p>\n<p>From a cryptocurrency perspective, an Ethereum transaction is the action that is emphasized by an externally-owned account, controlled by a human and not a contract.</p>\n<p>For example, if Stacy sends 5 ETH to Jennifer, her account must be debited and Jennifer's account must be credited. When this state changes, an action is taken in the form of a transaction. Based on Ethereum&rsquo;s regulations of consensus, the network confirms the transaction as a valid one and then gets added to a block that is then added to the blockchain.</p>\n<p>Speaking of terminology, the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-gas-limit/">gas limit</strong></a> is the maximum amount of gas that may be consumed by a transaction. The <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-gas-price/">gas price</strong></strong></a> is the amount of money that the sender will pay for each unit of gas. A nonce is a sequence number that is unique to each sender and must fit the next accessible sequence number.</p>\n<p>Furthermore, the value represents the amount of Ether to be sent from the sender to the recipient, which might be zero. In contrast, the receiver is the account address to which the transaction is ultimately transferred.</p>\n<p>Finally, the data is an extra arbitrary binary data, where the contract's <strong>bytecode</strong> is delivered throughout the contract implementation.</p>","level":"easy","meta_title":"What is Ethereum Transaction? 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Handbook Cover Page
Crypto Terms: Letter E

What is Ethash?

Ethash MEANING:
Ethash - Proof-of-Work (PoW) mining method used in the Ethereum ecosystem.
Medium
2 minutes

Let's find out Ethash meaning, definition in crypto, what is Ethash, and all other detailed facts.

Ethash is the Proof-of-Work (PoW) consensus algorithm used to mine Ethereum’s native cryptocurrency, Ether. It is used to adjust the difficulty of the mining process.

Ethereum is a blockchain-based, open-technology platform that offers many opportunities for decentralization and digital development. Using smart contracts, developers can create decentralized applications (DApps). Ether, the native cryptocurrency on the Ethereum blockchain, can be used for various transactions.

Proof-of-Work mining that Ethereum 1.0 uses occurs by taking data from a block header, using it as an input, and hashing it via the cryptographic method. The outcome is a fixed-length output that determines the hash value. Once the data is submitted to initiate the process, Ether miners use new sequence numbers to hash different variants of the input data.

Ethash provides improvements on the prior version of Proof-of-Work mining, Dagger-Hashimoto, which required higher computational costs. Instead, Ethash uses a vast and expanding dataset that is compact enough for the VRAM of a GPU.

The hash value produced via Ethash must be below the provided threshold, which determines the difficulty. The Ethereum network regularly adjusts the threshold to be more or less difficult. This manages the mining pace – if the mining pace rises, the difficulty level is automatically increased and the threshold along with the number of valid hashes is lowered.

Similarly, if the mining pace slows down, the network increases the threshold. This leads to a higher number of discoverable valid hash values.

Ethash can help determine how many computing resources a miner requires to locate the sequence number, or nonce, which makes it possible to propose new blocks to be added to the chain. On average, a new block is generated every 12 seconds.

Miners often adjust the memory clock frequency of the GPU. This helps them yield more Ethash hash rates. This process produces more heat and requires higher electrical resources. Therefore, miners may rely on manually managing power control or setting their fans to higher speeds.

Those involved in Ether mining may build custom PCs containing six or more powerful GPUs. This helps achieve cost-effective mining. The strategy of using custom-built PCs is often employed by crypto mining farms.

The rewards for a successfully discovered block that can be added to the chain are:

  • A static block reward (3 ETH);
  • The gas fees of the mining process are covered by the execution of all transactions recorded in the block;
  • Additional rewards for including stale blocks, or uncles, in the block.

Ethash is designed to be ASIC-resistant, thus making the overall process of mining Ether fairer.  It is expected that Ethereum 2.0 will move from Proof-of-Work to the Proof-of-Stake (PoS) consensus algorithm, taking the Ethash mechanism out of commission.
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