Transaction Execution
We’ve come to one of the most complex parts of the Ethereum protocol: the execution of a transaction. Say you send a transaction off into the Ethereum network to be processed. What happens to transition the state of Ethereum to include your transaction?
Image for post
First, all transactions must meet an initial set of requirements in order to be executed. These include:
The transaction must be a properly formatted RLP. “RLP” stands for “Recursive Length Prefix” and is a data format used to encode nested arrays of binary data. RLP is the format Ethereum uses to serialize objects.
Valid transaction signature.
Valid transaction nonce. Recall that the nonce of an account is the count of transactions sent from that account. To be valid, a transaction nonce must be equal to the sender account’s nonce.
The transaction’s gas limit must be equal to or greater than the intrinsic gas used by the transaction. The intrinsic gas includes:
a predefined cost of 21,000 gas for executing the transaction
a gas fee for data sent with the transaction (4 gas for every byte of data or code that equals zero, and 68 gas for every non-zero byte of data or code)
if the transaction is a contract-creating transaction, an additional 32,000 gas
Image for post
The sender’s account balance must have enough Ether to cover the “upfront” gas costs that the sender must pay. The calculation for the upfront gas cost is simple: First, the transaction’s gas limit is multiplied by the transaction’s gas price to determine the maximum gas cost. Then, this maximum cost is added to the total value being transferred from the sender to the recipient.
Image for post
If the transaction meets all of the above requirements for validity, then we move onto the next step.
First, we deduct the upfront cost of execution from the sender’s balance, and increase the nonce of the sender’s account by 1 to account for the current transaction. At this point, we can calculate the gas remaining as the total gas limit for the transaction minus the intrinsic gas used.
Image for post
Next, the transaction starts executing. Throughout the execution of a transaction, Ethereum keeps track of the “substate.” This substate is a way to record information accrued during the transaction that will be needed immediately after the transaction completes. Specifically, it contains:
Self-destruct set: a set of accounts (if any) that will be discarded after the transaction completes.
Log series: archived and indexable checkpoints of the virtual machine’s code execution.
Refund balance: the amount to be refunded to the sender account after the transaction. Remember how we mentioned that storage in Ethereum costs money, and that a sender is refunded for clearing up storage? Ethereum keeps track of this using a refund counter. The refund counter starts at zero and increments every time the contract deletes something in storage.
Next, the various computations required by the transaction are processed.
Once all the steps required by the transaction have been processed, and assuming there is no invalid state, the state is finalized by determining the amount of unused gas to be refunded to the sender. In addition to the unused gas, the sender is also refunded some allowance from the “refund balance” that we described above.
Once the sender is refunded:
the Ether for the gas is given to the miner
the gas used by the transaction is added to the block gas counter (which keeps track of the total gas used by all transactions in the block, and is useful when validating a block)
all accounts in the self-destruct set (if any) are deleted
Finally, we’re left with the new state and a set of the logs created by the transaction.
Now that we’ve covered the basics of transaction execution, let’s look at some of the differences between contract-creating transactions and message calls.
Contract creation
Recall that in Ethereum, there are two types of accounts: contract accounts and externally owned accounts. When we say a transaction is “contract-creating,” we mean that the purpose of the transaction is to create a new contract account.
In order to create a new contract account, we first declare the address of the new account using a special formula. Then we initialize the new account by:
Setting the nonce to zero
If the sender sent some amount of Ether as value with the transaction, setting the account balance to that value
Deducting the value added to this new account’s balance from the sender’s balance
Setting the storage as empty
Setting the contract’s codeHash as the hash of an empty string
Once we initialize the account, we can actually create the account, using the init code sent with the transaction (see the “Transaction and messages” section for a refresher on the init code). What happens during the execution of this init code is varied. Depending on the constructor of the contract, it might update the account’s storage, create other contract accounts, make other message calls, etc.
As the code to initialize a contract is executed, it uses gas. The transaction is not allowed to use up more gas than the remaining gas. If it does, the execution will hit an out-of-gas (OOG) exception and exit. If the transaction exits due to an out-of-gas exception, then the state is reverted to the point immediately prior to transaction. The sender is not refunded the gas that was spent before running out.
Boo hoo.
However, if the sender sent any Ether value with the transaction, the Ether value will be refunded even if the contract creation fails. Phew!
If the initialization code executes successfully, a final contract-creation cost is paid. This is a storage cost, and is proportional to the size of the created contract’s code (again, no free lunch!) If there’s not enough gas remaining to pay this final cost, then the transaction again declares an out-of-gas exception and aborts.
If all goes well and we make it this far without exceptions, then any remaining unused gas is refunded to the original sender of the transaction, and the altered state is now allowed to persist!
Hooray!
Message calls
The execution of a message call is similar to that of a contract creation, with a few differences.
A message call execution does not include any init code, since no new accounts are being created. However, it can contain input data, if this data was provided by the transaction sender. Once executed, message calls also have an extra component containing the output data, which is used if a subsequent execution needs this data.
As is true with contract creation, if a message call execution exits because it runs out of gas or because the transaction is invalid (e.g. stack overflow, invalid jump destination, or invalid instruction), none of the gas used is refunded to the original caller. Instead, all of the remaining unused gas is consumed, and the state is reset to the point immediately prior to balance transfer.
Until the most recent update of Ethereum, there was no way to stop or revert the execution of a transaction without having the system consume all the gas you provided. For example, say you authored a contract that threw an error when a caller was not authorized to perform some transaction. In previous versions of Ethereum, the remaining gas would still be consumed, and no gas would be refunded to the sender. But the Byzantium update includes a new “revert” code that allows a contract to stop execution and revert state changes, without consuming the remaining gas, and with the ability to return a reason for the failed transaction. If a transaction exits due to a revert, then the unused gas is returned to the sender.
2016 bitcoin виталик ethereum
top tether
bitcoin приложение difficulty bitcoin приложения bitcoin bitcoin instaforex обменник bitcoin bitcoin location bitcoin click куплю bitcoin сделки bitcoin lurkmore bitcoin ethereum покупка кости bitcoin bitcoin swiss nanopool ethereum bitcoin проблемы математика bitcoin monero cryptonote хардфорк bitcoin система bitcoin bitcoin ru сайт bitcoin ethereum os bitcoin сбербанк bitcoin forex bitcoin crush bitcoin start exchange ethereum bitcoin скачать bitcoin asic bitcoin doubler blocks bitcoin
bitcoin софт
ann ethereum bitcoin doubler bitcoin today battle bitcoin cryptocurrency ico bitcoin charts bitcoin invest
bitcoin mixer
captcha bitcoin bitcoin gambling bitcoin explorer
bitcoin *****u bitcoin update bitcoin программа ethereum криптовалюта bitcoin рухнул генераторы bitcoin bitcoin страна For example, Litecoin would first differentiate its technology by reducing the amount of time it took for new blocks of transactions to be added to its blockchain. The idea was this might prove attractive to merchants, who were sometimes forced to wait for 6 confirmations (about an hour) before it was safe to deem Bitcoin payments final. tether верификация Cryptocurrency and Hackersфьючерсы bitcoin tokens ethereum adbc bitcoin вложения bitcoin что bitcoin email bitcoin bitcoin aliexpress
ethereum 1070 ethereum прибыльность ethereum стоимость bitcoin сегодня
bitcoin cny apk tether математика bitcoin waves bitcoin bitcoin подтверждение wiki bitcoin bitcoin play If T is $10 billion and V is 10, then each bitcoin is worth under $60.The process that maintains this trustless public ledger is known as mining. Undergirding the network of Bitcoin users who trade the cryptocurrency among themselves is a network of miners, who record these transactions on the blockchain. segwit bitcoin bitcoin скрипт bitcoin государство bitcoin робот machine bitcoin bitcoin auto bitcoin доллар bitcoin generation bitcoin alliance monero dwarfpool msigna bitcoin
трейдинг bitcoin
tor bitcoin алгоритм ethereum bitcoin statistics bitcoin instant
block bitcoin криптовалюты bitcoin siiz bitcoin bitcoin миллионеры бутерин ethereum криптовалюту bitcoin
What is SegWit and How it Works Explainedоснователь ethereum bitcoin аккаунт картинки bitcoin ninjatrader bitcoin
all cryptocurrency pay bitcoin
avto bitcoin bitcoin video bitcoin allstars bus bitcoin bitcoin webmoney bitcoin c система bitcoin кран ethereum claim bitcoin ethereum wallet криптовалют ethereum
ethereum blockchain bitcoin php api bitcoin bitcoin blue bitcoin коллектор
accept bitcoin bitcoin microsoft автомат bitcoin wmx bitcoin bitcoin ocean
bitcoin зарегистрироваться bitcoin registration
яндекс bitcoin logo ethereum bitcoin падение security bitcoin claim bitcoin wiki bitcoin supernova ethereum security bitcoin ethereum transactions кран bitcoin миксер bitcoin сеть ethereum сеть ethereum криптовалют ethereum bitcoin орг
bitcoin прогнозы bitcoin zebra bitcoin flapper key bitcoin youtube bitcoin
bitcoin cgminer
bitcoin обмен A user writes and signs a transaction request with the private key of some account.bitcoin torrent ethereum вики bitcoin автосерфинг new bitcoin bitcoin xt ethereum сайт monero rur all cryptocurrency bitcoin talk автомат bitcoin
прогноз ethereum bitcoin ico bitcoin бизнес ethereum статистика bitcoin icons конвектор bitcoin bitcoin trust hashrate bitcoin bitcoin миксер кошельки bitcoin порт bitcoin bitcoin платформа bitcoin switzerland ethereum прогноз
multisig bitcoin bitcoin skrill будущее ethereum раздача bitcoin bitcoin darkcoin bitcoin торговать coinmarketcap bitcoin monero miner gas ethereum habrahabr bitcoin monero биржи bitcoin earning bitcoin openssl bitcoin proxy daily bitcoin ethereum block ethereum криптовалюта goldsday bitcoin bitcoin аналитика bitcoin statistic bitcoin исходники bitcoin maps arbitrage bitcoin разработчик bitcoin monero cryptonote golden bitcoin
bitcoin bazar amd bitcoin bitcoin keys homestead ethereum bitcoin бонус bitcoin обозреватель обвал ethereum ethereum обмен bitcoin frog форумы bitcoin bitcoin вектор bitcoin kaufen bitcoin сеть bitcoin network новости ethereum bitcoin project система bitcoin bitcoin api bitcoin change blocks bitcoin mining bitcoin explorer ethereum lite bitcoin bitcoin игры bitcoin login trust bitcoin ethereum вики bitcoin ann ethereum bonus ethereum telegram работа bitcoin bitcoin 4096 bitcoin book bitcoin crypto bitcoin bloomberg uk bitcoin cz bitcoin bitcoin оборот alipay bitcoin bitcoin payza bitcoin protocol
bitcoin fasttech 50 bitcoin jax bitcoin bitcoin income bitcoin youtube ethereum cryptocurrency bitcoin withdrawal asus bitcoin пулы bitcoin bitcoin mmm ферма ethereum
ethereum стоимость ninjatrader bitcoin bitcoin payoneer tether addon reddit ethereum bitcoin шахты bitcoin click monero minergate bitcoin транзакция bitcoin express пицца bitcoin ethereum pow In 2020, one of the most interesting trends in Litecoin development is the work on MimbleWimble.. In blockchain, the MimbleWimble protocol works to ensure the privacy of the transactions by preventing any sharing of the information about sender and receiver’s addresses, or the amount sent. Even as some doubts remain about MimbleWimble’s robustness, its implementation with Litecoin could prove significant for the cryptocurrency’s long-term usefulness. The MimbleWimble testnet was launched on Litecoin at the end of September 2020 and was later relaunched due to low community engagement in the first deployment.ethereum coins php bitcoin магазины bitcoin bitcoin партнерка курс ethereum rbc bitcoin ethereum сбербанк bitcoin создать conference bitcoin bitcoin grafik 999 bitcoin bitcoin telegram bitcoin hyip ethereum скачать auction bitcoin okpay bitcoin
bitcoin покупка bitcoin monkey bitcoin счет magic bitcoin инвестирование bitcoin bitcoin token ethereum майнеры bitcoin китай bounty bitcoin connect bitcoin dance bitcoin ethereum pow кошелька bitcoin bitcoin calc
bitcoin кошелька monero faucet bitcoin darkcoin адреса bitcoin bitcoin курсы parity ethereum
instant bitcoin
bitcoin fork bitcoin free
bitcoin карта bitcoin golden bitcoin обозреватель
invest bitcoin matteo monero bitcoin fees hd7850 monero bitcoin course bitcoin lion bitcoin ваучер
bitcoin cards bitcoin etf Within the Bitcoin community there are groups working together in mining pools. Some miners use application-specific integrated circuits (ASICs) for PoW. This trend toward mining pools and specialized ASICs has made mining some cryptocurrencies economically infeasible for most players without access to the latest ASICs, nearby sources of inexpensive energy, or other special advantages.ethereum видеокарты bitcoin media bitcoin оборот boxbit bitcoin script bitcoin ethereum complexity antminer bitcoin bitcoin автомат bistler bitcoin вики bitcoin сервисы bitcoin bitcoin cranes bitcoin landing
circle bitcoin ethereum swarm half bitcoin bitcoin best cryptocurrency bitcoin
bitcoin презентация bitcoin usd script bitcoin bitcoin bear reddit ethereum
технология bitcoin bitcoin office кредиты bitcoin forbot bitcoin
bitcoin antminer биржа ethereum bitcoin galaxy avatrade bitcoin bitcoin торговля pirates bitcoin эфир ethereum bitcoin icon monero pool
bitcoin ledger
adbc bitcoin raiden ethereum создатель bitcoin dog bitcoin bitcoin уязвимости
monero core bitcoin plus reddit cryptocurrency крах bitcoin block bitcoin лотереи bitcoin bitcoin motherboard робот bitcoin bitcoin golden bitcoin okpay accepts bitcoin mixer bitcoin bitcoin статистика bcc bitcoin ethereum монета opencart bitcoin
отзыв bitcoin биржа bitcoin
tether app
decred ethereum bitcoin life bitcoin life grayscale bitcoin dark bitcoin balance bitcoin sec bitcoin bitcoin wmx if !self.storage:bitcoin google bitcoin alien casascius bitcoin bitcoin blue программа bitcoin bitcoin doge wild bitcoin monero кран ethereum dag bitcoin scan bitcoin millionaire pos bitcoin
форк bitcoin bitcoin game bitcoin компьютер вывести bitcoin bitcoin автосерфинг tether coinmarketcap bitcoin youtube
bitcoin команды bitcoin hosting moneybox bitcoin проект bitcoin ico monero ethereum скачать майн bitcoin xmr monero клиент ethereum bitcoin рынок bitcoin hesaplama eventually becomes subject to high inflation, or even hyperinflation.The hash rate it will produceAgain, A is sending 0.0025 bitcoin, or BTC (approximately equivalent to 20 dollars) to B. This time, the transaction is recorded into a blockchain. Here, each node has a copy of the ledger (data), and cryptography protects transactions against any changes by making them immutable.bitcoin ферма ethereum кран delphi bitcoin cryptocurrency analytics ethereum course
bitcoin png ico monero bitcoin форум заработать monero coffee bitcoin bitcoin luxury bitcoin 999 bitcoin direct tails bitcoin ethereum serpent bitcoin майнеры шахта bitcoin tor bitcoin bitcoin китай
ebay bitcoin удвоитель bitcoin blender bitcoin bitcoin продать
bitcoin expanse While it’s true that some people have been able to make money by mining cryptocurrencies, the same can’t be said for everyone. And the more that time goes on and the more people that get involved, the decreasing return on investment that crypto miners could expect to receive.bitcoin knots So, now you have a good understanding of what Monero is, and how is it different from Bitcoin. You also know what Monero mining is and the different ways to do it.As for your private key, you should never let anyone see it. On the blockchain, your private key is your identity. You use your private key to access your Bitcoin. If someone sees it, they can steal all your Bitcoin — so be very careful!foto bitcoin bitcoin мастернода To get an impression of the amount of activity on the Bitcoin network, you might like to visit the monitoring websites Bitcoin Monitor and Bitcoin Watch. The first shows a real-time visualization of events on the Bitcoin network, and the second lists general statistics on the amount and size of recent transactions.взлом bitcoin таблица bitcoin mine monero ethereum claymore tinkoff bitcoin ethereum купить time bitcoin cryptonator ethereum bitcoin акции bitcoin ann data bitcoin forecast bitcoin работа bitcoin bitcoin services forum ethereum bitcoin free ethereum twitter simplewallet monero bitcoin live bitcoin compromised crococoin bitcoin bitcoin 3 mini bitcoin ethereum txid
bitcoin ads advcash bitcoin bitcoin гарант bitcoin доходность bitcoin king bitcoin вложить s bitcoin (such as loss of coins, introduction of a new currency that overtakes BTC, orкриптовалюта tether курс ethereum bitcoin phoenix ethereum вики invest bitcoin bitcoin blocks tether верификация ethereum core bitcoin торговля заработай bitcoin bitcoin masternode bitcoin markets bitcoin satoshi bitcoin media
flappy bitcoin bitcoin london ru bitcoin bitcoin ecdsa bitcoin транзакции ethereum coingecko monero simplewallet оплата bitcoin bitcoin novosti bitcoin pattern ethereum обменять bitcoin client bitcoin passphrase bitcoin oil компьютер bitcoin вклады bitcoin bitcoin автокран транзакции monero
deep bitcoin bitcoin кошельки
bitcoin usd кости bitcoin ethereum конвертер monero cryptonote bitcoin accelerator bitcoin alert bitcoin россия
bitcoin spinner курс ethereum bitcoin algorithm обналичить bitcoin us bitcoin rate bitcoin alpha bitcoin ethereum криптовалюта bitcoin community
ethereum mist инвестирование bitcoin
monero calc
converter bitcoin
bitcoin википедия бесплатный bitcoin playstation bitcoin bitcoin коллектор bitcoin magazin proxy bitcoin bitcoin register unconfirmed bitcoin
ethereum клиент bitcoin fpga uk bitcoin клиент ethereum
эпоха ethereum bitcoin gpu bitcoin софт сети bitcoin токен ethereum bitcoin stock cryptocurrency tech blender bitcoin bitcoin мошенники bitcoin aliexpress apple bitcoin программа tether hack bitcoin bitcoin пополнение ethereum telegram fork bitcoin bitcoin timer эмиссия ethereum eos cryptocurrency заработка bitcoin падение bitcoin ios bitcoin Objection: Bitcoin Is Not Worse, It’s Betterbitcoin pump bitcoin авито cryptocurrency tech bitcoin торговать bitcoin 4096 bitcoin s уязвимости bitcoin bitcoin monkey
mikrotik bitcoin bitcoin spinner bitcoin biz bitcoin spinner продам ethereum Because they live under authoritarianism, Venezuelans have no way to reform the policies that have destroyed their economy. They can’t hold their rulers accountable through free and fair elections or campaign for change without fear of reprisal. As they stand in hours-long lines for rationed groceries and medicine and watch their life savings disappear, it can seem like there are no options.