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.
бесплатный bitcoin
bitcoin client
bitcoin игры кости bitcoin
bitcoin uk bitcoin криптовалюта ethereum описание oil bitcoin
bitcoin nodes bitcoin greenaddress миксер bitcoin ethereum rig логотип bitcoin fee bitcoin bitrix bitcoin rocket bitcoin шрифт bitcoin rates bitcoin
bitcoin сервера app bitcoin reverse tether hardware bitcoin
bitcoin fpga average bitcoin bitcoin simple пополнить bitcoin ethereum charts bitcoin математика why cryptocurrency bitcoin kran ethereum видеокарты bux bitcoin ethereum заработок bitcoin info ethereum charts bitcoin usb moneypolo bitcoin ethereum supernova bitcoin utopia
анализ bitcoin bitcoin scripting bitcoin cost ethereum пул партнерка bitcoin продать ethereum
bitcoin kran gemini bitcoin робот bitcoin баланс bitcoin взлом bitcoin bitcoin valet часы bitcoin
2016 bitcoin крах bitcoin in bitcoin bitcoin store top tether майнить bitcoin monero новости
bitcoin расшифровка boom bitcoin bitcoin майнить брокеры bitcoin tp tether bitcoin транзакция
bitcoin обозначение bitcoin пицца ethereum zcash reklama bitcoin webmoney bitcoin
сборщик bitcoin The first one who is able to solve the puzzle can put on the block chain the next block and gets the rewards. What encourage mining are the rewards that include both the freshly released Bitcoin and also the fees in the form of Bitcoin that the miner gets paid, also known as transaction fees.bitcoin пожертвование alpari bitcoin
bitcoin youtube maps bitcoin parity ethereum
location bitcoin ethereum ann bitcoin download bitcoin cny bitcoin new xpub bitcoin bitcoin neteller ssl bitcoin
polkadot bitcoin block korbit bitcoin laundering bitcoin список bitcoin bitcoin goldman символ bitcoin ccminer monero проверка bitcoin
monero gui moto bitcoin bitcoin pdf rx470 monero часы bitcoin транзакции bitcoin ethereum заработок bitcoin 20 bitcoin хайпы bitcoin etf bitcoin clouding monero miner ethereum stratum cryptocurrency market генераторы bitcoin weekend bitcoin полевые bitcoin bitcoin fund ethereum faucet bitcoin fields buy ethereum carding bitcoin pay bitcoin бот bitcoin flypool ethereum магазины bitcoin bitcoin etf bitcoin compromised bitcoin token reverse tether ethereum supernova bitcoin tor bitcoin продать bitcoin доллар bitcoin girls bitcoin group bot bitcoin bitcoin conf bitcoin значок reward bitcoin If it took more than two weeks to generate the blocks, the expected difficulty value is decreased proportionally (by as much as 75%) for the same reason.frontier ethereum bitcoin картинки monero майнить
okpay bitcoin 2 bitcoin bitcoin работать ethereum forum проверка bitcoin nonce bitcoin usd bitcoin ethereum сбербанк ethereum покупка supernova ethereum bitcoin landing bitcoin knots банк bitcoin
sec bitcoin bitcoin анонимность hosting bitcoin escrow bitcoin bitcoin видеокарты заработок ethereum monero калькулятор config bitcoin bubble bitcoin bitcoin accepted bitcoin покер ethereum fork monero minergate yandex bitcoin bitcoin зарегистрировать ethereum валюта динамика ethereum monero криптовалюта source bitcoin rigname ethereum книга bitcoin second bitcoin новости ethereum bitcoin email продажа bitcoin monero пул bitcoin scripting bitcoin galaxy зарегистрироваться bitcoin сбербанк ethereum часы bitcoin
future bitcoin форки bitcoin реклама bitcoin bitcoin rbc
cryptocurrency это pool monero client ethereum bitcoin запрет bitcoin safe курс monero short bitcoin bitcoin poloniex cryptocurrency wallets usb bitcoin tether майнинг monero nvidia flash bitcoin bitcoin email bitcoin казино обмен tether On-chain governance is a system for managing and implementing changes to cryptocurrency blockchains. In this type of governance, rules for instituting changes are encoded into the blockchain protocol. Developers propose changes through code updates and each node votes on whether to accept or reject the proposed change.monero usd bitcoin java moneybox bitcoin
ethereum project bitcoin акции bitcoin direct bitcoin check bitcoin skrill bitcoin порт bitcoin обменники обменники bitcoin bitcoin greenaddress bitcoin путин There is no minimum target, but there is a maximum target set by the Bitcoin Protocol. No target can be greater than this number:china bitcoin хардфорк bitcoin bitcoin проект 1 monero exchange ethereum алгоритм ethereum лото bitcoin bitcoin cnbc market bitcoin
bitcoin бесплатные monero hardfork bitcoin pools bitcoin список
bitcoin часы is bitcoin bitcoin biz They are both virtual currencies that are actively used for services, contracts, and as a store of value. Their popularity has grabbed the attention of news publications and traders alike who are hoping to better understand how blockchain technology may change the monetary landscape overtime. This is where most of the similarities end.ethereum биткоин bitcoin start world bitcoin генераторы bitcoin monero pro
bitcoin майнить 15 bitcoin bitcoin virus бесплатные bitcoin ethereum краны купить monero bitcoin прогнозы bitcoin математика криптовалюту bitcoin tether wifi эмиссия ethereum bitcoin bcc bitcoin торги trezor ethereum bitcoin bux bux bitcoin 999 bitcoin
ethereum 1070 ethereum кошелька bitcoin euro бутерин ethereum отдам bitcoin safe bitcoin unconfirmed monero
кошель bitcoin polkadot store ethereum info bitcoin local ютуб bitcoin
кликер bitcoin асик ethereum bitcoin coinmarketcap bitcoin investing продам ethereum
bitcoin программирование bitcoin hacking monero coin bitcoin cgminer 60 bitcoin bitcoin анонимность pirates bitcoin c bitcoin monero кошелек ethereum contracts bitcoin boom
faucet bitcoin habrahabr bitcoin bitcoin майнить bitcoin pdf количество bitcoin 20 bitcoin программа tether boom bitcoin bitcoin poloniex bitcoin pdf joker bitcoin
bitcoin это monero кошелек курс bitcoin bitcoin people bitcoin io bitcoin scripting bounty bitcoin claymore monero wallets cryptocurrency
кликер bitcoin erc20 ethereum вики bitcoin bitcoin ферма bitcoin обои monero algorithm bitcoin london pay bitcoin bitcoin талк dance bitcoin ethereum buy seed bitcoin bitcoin circle monero pools autobot bitcoin часы bitcoin bitcoin primedice bitcoin mmgp bitcoin cash проекта ethereum monero transaction torrent bitcoin bitcoin charts кошелек ethereum
адрес bitcoin bitcoin китай bitcoin анимация bitcoin руб weather bitcoin приложения bitcoin bitcoin cards key bitcoin exchange cryptocurrency
кошельки bitcoin blogspot bitcoin обменять monero cryptocurrency law bitcoin cny
bitcoin ocean froggy bitcoin ethereum mine ethereum pos bitcoin заработать ethereum info
ethereum метрополис time bitcoin платформы ethereum оборот bitcoin fork bitcoin san bitcoin bazar bitcoin bitcoin китай bitcoin system tether криптовалюта bitcoin луна программа bitcoin
ethereum calculator bitcoin options ethereum usd sgminer monero lootool bitcoin видеокарты ethereum bitcoin ocean bitcoin journal bitcoin checker wallpaper bitcoin bitcoin center исходники bitcoin заработка bitcoin
charts bitcoin monero калькулятор bitcoin iq bitcoin скрипт faucet bitcoin coingecko ethereum login bitcoin half bitcoin bitcoin tm bitcoin testnet анимация bitcoin maps bitcoin bitcoin talk monero blockchain rpc bitcoin пирамида bitcoin bitcoin freebitcoin
monero proxy faucet bitcoin bitcoin index nanopool ethereum компания bitcoin bitcoin wordpress market bitcoin транзакция bitcoin wallpaper bitcoin bitcoin monkey ethereum miner криптовалюту monero casascius bitcoin компания bitcoin рынок bitcoin mt4 bitcoin bitcoin change monero amd ethereum контракты bitcoin india bitcointalk monero casino bitcoin bitcoin продам
solo bitcoin bitcoin cudaminer
my bitcoin planet bitcoin nodes bitcoin se*****256k1 bitcoin bitcoin tradingview wallets cryptocurrency bitcoin golden future bitcoin кошельки ethereum покер bitcoin андроид bitcoin nanopool monero bitcoin circle vector bitcoin bitcoin explorer отзывы ethereum видеокарты bitcoin
обмена bitcoin monero ico byzantium ethereum получить bitcoin основатель ethereum bitcoin bazar
bitcoin aliens ninjatrader bitcoin ethereum vk bitcoin машины bitcoin traffic bitcoin putin bitcoin obmen iota cryptocurrency bitcoin linux новые bitcoin ethereum core bitcoin song dash cryptocurrency bitcoin спекуляция bitcoin mac bitcoin server отзыв bitcoin bitcoin books ethereum динамика bitcoin торговать установка bitcoin ethereum заработок bitcoin plus обменники ethereum bitcoin bitrix логотип bitcoin ethereum geth ethereum frontier bitcoin vk tether программа With that foundation, we can trade.Personal opinion: If you want to get hold of some cryptocurrency but don’t want to invest in expensive mining hardware, just buy some Bitcoin with the money you would have spent on a cloud mining contract. That way, if the market takes a dramatic downturn, you can sell your position. You won’t be stuck in a mining contract that is becoming more and more worthless by the day.bitcoin bbc казино ethereum bitcoin paper bitcoin валюты puzzle bitcoin In May 2013, Ted Nelson speculated that Japanese mathematician Shinichi Mochizuki is Satoshi Nakamoto. Later in 2013 the Israeli researchers Dorit Ron and Adi Shamir pointed to Silk Road-linked Ross William Ulbricht as the possible person behind the cover. The two researchers based their suspicion on an analysis of the network of bitcoin transactions. These allegations were contested and Ron and Shamir later retracted their claim.бесплатные bitcoin
tera bitcoin monero fee bitcoin buy
cryptocurrency tech bitcoin коды electrum ethereum кошельки bitcoin That’s the end of my 'What is Blockchain' guide! I hope you have understood everything I have explained, and I hope that you found it interesting!mastering bitcoin bitcoin монета bitcoin status tracker bitcoin bitcoin рбк bitcoin википедия ethereum краны bitcoin зарегистрироваться rocket bitcoin ethereum myetherwallet bitcoin demo nicehash bitcoin bitcoin ann график ethereum ethereum бутерин bitcoin script darkcoin bitcoin china bitcoin
bitcoin poker bitcoin софт стоимость monero direct bitcoin bitcoin кошельки the ethereum bitcoin 10 казино ethereum bitcoin greenaddress иконка bitcoin monero fr bitcoin сети bitcoin song No customer support