Question 1: What is the value token for Ethereum?
Question 2: What is Ether ?
Ether is a necessary element — a fuel — for operating the distributed application platform Ethereum. It is a form of payment made by the clients of the platform to the machines executing the requested operations.
Question 3: What is the main difference between Ether and Wei ?
Wei is a denomination, like cents to Dollars or pennies to Pounds. 1 ETH = 10¹⁸ Wei.
Question 4: What is the average block size and block time in Ethereum?
Approximated 2 KB and 14 seconds.
Question 5: How can you get Ethers?
Ethers can be obtained in the following ways
- By Mining
- Trading Ethers with other currencies
- Ether faucets
Question 6: How many Ethers were created 2014 during presale ?
60 million were created in a presale in 2014.
Question 7: How many types of Ethereum networks exits ?
There are three types of Ethereum network
- Live Network (Main)
- Test Network (eg. Ropsten and Rinkeby)
- Private Network
Question 8: What is a node ? Explain.
Node is a computer which is connected to the network to process the transactions.
Question 9: What are the ids of those networks?
- Live (id=1)
- Ropsten (id=3)
- Rinkeby (id=4)
- Private (assigned by the developer)
Question 10: How do you see details about transactions and blocks?
We can see details of translations and blocks using blockchain explorers like etherscan.io or live.ether.camp