Announcing MyEtherWallet v3.24.00: Difficulty Bomb&Updating blockchain
Due to the complexity of the Bomb and the increased risk of hacking, we pushed a rather drastic update that implements a number of changes and improvements, including enhancement of efficiency and scalability of the blockchain, acceleration of transaction speed, and additional security in the form new formats private keys which will help protect users against hacking.
If you are using private key or UTC, then you need to go into the wallet and update manually, otherwise they risk being unprotected.
How do i update my Ethereum wallet?
1. Go to our website /]MyEtherWallet.com
2. Unlock your wallet using your Keystore File (UTC / JSON) or simply use your private key.
3. Click Unlock and wait for the update.
Please note that you need to manually update your wallet, failure to do so may result in funds being lost.
We are taking these measures to protect both you and our network from phishing and malicious attacks.
Thank you for your cooperation and understanding!
MyEtherWallet Security Team.
If you use other methods, then ignore this message.
Topic: Does every bitcoin have a serial number? (Read 177 times)
But those aren't exactly layman's terms are they?
I believe the end users who use Bitcoin are smart enough to understand how blockchain works without reading an explanation using layman's terms but for the sake of explaining it into layman's terms, I'll try explaining it. I guess one can say that blockchain works like multiple cabinets full of files(which contains transaction details) wherein each file are labelled uniquely. In each file, there are coins stored in the information which can be divided later on and some of those coins are yet to be stored in a file. Those multiple cabinets contain the same files and are verified by assessors called miners by calculation(and that's where hash power comes in). Those miners are also the ones responsible for collecting new coins from the supply box(which have limited coins). The newly found coins are then stored into their wallets and are sent to files for other miners to verify. In a nutshell, that's how blockchain works. For others who will comment after me, feel free to correct my explanation if I am wrong. 
But those aren't exactly layman's terms are they?
when the "layman" uses credit cards, Paypal, Visa, .... do they need to come up with things such as "does Paypal dollars have serial number" to understand it?
NO. they use it as an end user.
so stop making things complicated with weird explanations and usage of misleading statements such as "wallet numbers"!
Your explanation is somehow confusing and you didn't mentioned the most important.
There are really no coins, but Unspent Transactions Outputs (UTXO)
Every transaction output has a balance, that can be 1 satoshi or 1 million btc. The value does not matter.
Every utxo has its own identification, which is its transaction history.
It's not a serial number, but a timestamp.
If you receive 0.005 btc every week for 3 weeks on the same address, you will have 3 utxo.
It does not matter if you receive them in he se addresses or not.
You can later consolidate those ouput by doing one transaction with all of them to another address.
But those aren't exactly layman's terms are they? There are really no coins, but Unspent Transactions Outputs (UTXO)
Every transaction output has a balance, that can be 1 satoshi or 1 million btc. The value does not matter.
Every utxo has its own identification, which is its transaction history.
It's not a serial number, but a timestamp.
If you receive 0.005 btc every week for 3 weeks on the same address, you will have 3 utxo.
It does not matter if you receive them in he se addresses or not.
You can later consolidate those ouput by doing one transaction with all of them to another address.
Your explanation is somehow confusing and you didn't mentioned the most important.
There are really no coins, but Unspent Transactions Outputs (UTXO)
Every transaction output has a balance, that can be 1 satoshi or 1 million btc. The value does not matter.
Every utxo has its own identification, which is its transaction history.
It's not a serial number, but a timestamp.
If you receive 0.005 btc every week for 3 weeks on the same address, you will have 3 utxo.
It does not matter if you receive them in he se addresses or not.
You can later consolidate those ouput by doing one transaction with all of them to another address.
There are really no coins, but Unspent Transactions Outputs (UTXO)
Every transaction output has a balance, that can be 1 satoshi or 1 million btc. The value does not matter.
Every utxo has its own identification, which is its transaction history.
It's not a serial number, but a timestamp.
If you receive 0.005 btc every week for 3 weeks on the same address, you will have 3 utxo.
It does not matter if you receive them in he se addresses or not.
You can later consolidate those ouput by doing one transaction with all of them to another address.
No, correct? The reason is logical. Bitcoins break into too many fragments to maintain serial numbers per coin. So instead, they are measured by amounts and locations. The synchronized confirmation nodes all agree on amounts and to which wallets which have public addresses, and then they enter the transaction into a synchronized ledger called the blockchain. There is of course much more to the mechanics of blockchain, but that answers in layman's terms how it is accounted for. Is this explanation accurate?
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