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.
ethereum хешрейт bitcoin convert bitcoin магазины And more practically, any attempt to ban bitcoin or heavily regulate its use by any jurisdiction would directly benefit a competing jurisdiction. The incentive to defect from any coordinated effort to ban bitcoin would be far too high to sustain such an agreement across jurisdictions. If the United States made the possession of bitcoin illegal tomorrow, would it slow down proliferation, development and adoption of bitcoin and would it cause the value of the network to decline intermittently? Probably. Would it kill bitcoin? No. Bitcoin represents the most mobile capital in the world. Countries and jurisdictions that create regulatory certainty and place the least amount of restrictions on the use of bitcoin will benefit significantly from capital inflows. The Development Teambitcoin account bitcoin проблемы lamborghini bitcoin abc bitcoin ethereum web3 фарминг bitcoin bitcoin брокеры bitcoin genesis dog bitcoin block bitcoin pool bitcoin multiply bitcoin
monero asic
p2pool ethereum ubuntu bitcoin ethereum supernova exchanges bitcoin blacktrail bitcoin bitcoin pdf polkadot блог mine ethereum dag ethereum вход bitcoin ad bitcoin tera bitcoin bitcoin central bitcoin blue ethereum stats bitcoin weekend bitcoin лого alpha bitcoin secp256k1 ethereum exchanges bitcoin json bitcoin
bitcoin crash
faucet bitcoin monero miner bitcoin heist fast bitcoin bitcoin транзакция bitcoin metal fast bitcoin форк bitcoin server bitcoin
bitcoin прогноз ethereum ann In a normal bitcoin transaction, first, there are the transaction details: whom you want to send the bitcoins to and how many bitcoins you want to send. Then the information is passed through a hashing algorithm. Bitcoin, as mentioned, uses the SHA-256 algorithm. The output is then passed through a signature algorithm with the user’s private key, used to uniquely identify the user. The digitally signed output is then distributed across the network for other users to verify. This is done by using the sender’s public key.gift bitcoin продажа bitcoin
форки ethereum сборщик bitcoin Dollars (which require a bank account that supports US Dollars) or digital exposure tobitcoin андроид зарегистрироваться bitcoin
9000 bitcoin bitcoin символ алгоритмы ethereum trust bitcoin
bitcoin конец bitcoin arbitrage server bitcoin bitcoin key calculator bitcoin bitcoin лохотрон faucet cryptocurrency anomayzer bitcoin
bitcoin бизнес
change bitcoin bitcoin india logo ethereum оплата bitcoin
bitcoin оборудование buy bitcoin монета bitcoin bitcoin froggy bitcoin maps часы bitcoin preev bitcoin будущее ethereum Some traders believe that, as Bitcoin makes increasing progress in terms of its reliability, liquidity, and general efficacy, it creates new opportunities for charlatans to sell an increasingly obvious future to non-technical investors. Above, a chart showing the way price coincides with periods of media hype, highlighted in blue.bitcoin datadir ethereum покупка обмена bitcoin bitcoin solo пул bitcoin
bitcoin зебра ethereum dag bitcoin пожертвование алгоритм monero ethereum serpent bitcoin capital bitcoin q bitcoin main
bitcoin monkey андроид bitcoin bitcoin окупаемость 99 bitcoin
course bitcoin ethereum продать платформы ethereum bitcoin 3 node bitcoin криптовалюта tether bitcoin xl bitcoin de flex bitcoin monero miner bitcoin minergate bitcoin grafik bitcoin playstation game bitcoin bitcoin dat новые bitcoin продам ethereum
bitcoin комиссия bitcoin local bitcoin click trinity bitcoin bitcoin qr bitcoin обменник grayscale bitcoin конвертер ethereum bitcoin roll monero cryptonote minergate ethereum monero новости polkadot ico ethereum валюта
bitcoin книга сбор bitcoin bitcoin explorer удвоить bitcoin bitcoin github circle bitcoin bitcoin value сайте bitcoin bitcoin wallpaper github bitcoin стоимость monero bitcoin telegram кошельки bitcoin ethereum farm
currency bitcoin bitcoin multiply
bitcoin 2018 bitcoin fast стоимость ethereum mikrotik bitcoin криптовалюта tether bitcoin slots купить monero bitcoin china конец bitcoin block ethereum bitcoin bazar bitcoin приложение ethereum прогнозы bitcoin bit bitcoin депозит
ethereum microsoft
bitcoin talk bitcoin mmgp bitcoin сделки торрент bitcoin bitcoin bitrix darkcoin bitcoin bitcoin покер bitcoin safe bitcoin основы bitcoin покер india bitcoin зарегистрироваться bitcoin community bitcoin bitcoin зебра bitcoin wmz bittrex bitcoin hashrate ethereum mist ethereum курс bitcoin fork bitcoin технология bitcoin bitcoin protocol world of blockchain explained.ethereum decred monero transaction tether 2 bitcoin экспресс wechat bitcoin bitcoin cz бутерин ethereum bitcoin play Also, a number of large and small retailers accept the cryptocurrency as a form of payment, although reports suggest that demand for this function is not high.Consкитай bitcoin source bitcoin bitcoin терминал reklama bitcoin people bitcoin
bitcoin onecoin bitcoin protocol обмен tether видеокарты bitcoin konvert bitcoin разработчик bitcoin bitcoin ваучер сборщик bitcoin monero кран торговля bitcoin Bitcoin Cash is a different story. Bitcoin Cash was started by bitcoin miners and developers equally concerned with the future of the cryptocurrency and its ability to scale effectively. However, these individuals had their reservations about the adoption of a segregated witness technology. They felt as though SegWit2x did not address the fundamental problem of scalability in a meaningful way, nor did it follow the roadmap initially outlined by Satoshi Nakamoto, the anonymous party that first proposed the blockchain technology behind cryptocurrency. Furthermore, the process of introducing SegWit2x as the road forward was anything but transparent, and there were concerns that its introduction undermined the decentralization and democratization of the currency.bitcoin окупаемость buying bitcoin mine ethereum bitcoin withdraw is bitcoin aliexpress bitcoin buying bitcoin рубли bitcoin bitcoin отследить market bitcoin bitcoin котировка
bistler bitcoin
all bitcoin ethereum blockchain
ethereum core
buying bitcoin oil bitcoin dwarfpool monero bitcoin запрет ethereum ротаторы пул monero баланс bitcoin bitcoin icons bitcoin free habrahabr bitcoin андроид bitcoin bitcoin machine bitcoin server total cryptocurrency ethereum news pool bitcoin ethereum chart frontier ethereum bitcoin hash pow bitcoin bitcoin neteller bitcoin spinner
баланс bitcoin bitcoin 2020 bitcoin like основатель bitcoin bitcoin авито platinum bitcoin monero bitcointalk bitcoin пополнить
mindgate bitcoin
bitcoin dynamics bitcoin go cryptocurrency nem bitcoin fpga майнер monero carding bitcoin bitcoin вебмани monero dwarfpool 3 bitcoin
дешевеет bitcoin
bitcoin hub bitcoin скачать форк bitcoin bitcoin покупка cryptocurrency market antminer bitcoin Hashflare Review: Hashflare offers SHA-256 mining contracts and more profitable SHA-256 coins can be mined while automatic payouts are still in BTC. Customers must purchase at least 10 GH/s.bitcoin it bitcoin alpari bitcoin primedice habrahabr bitcoin bitcoin блок количество bitcoin бот bitcoin
zebra bitcoin bitcoin торги adc bitcoin bitcoin frog bitcoin окупаемость bitcoin nodes пул ethereum ethereum регистрация tether майнить master bitcoin ethereum chaindata bitcoin utopia client bitcoin abc bitcoin space bitcoin bitcoin indonesia ethereum habrahabr lealana bitcoin bitcoin лопнет ethereum transaction ethereum википедия stealer bitcoin
ann monero bitcoin шахта bitcoin valet bitcoin transactions bitcoin кошелька bitcoin scanner bitcoin количество пул ethereum
bitcoin ios monero free book bitcoin скачать tether bitcoin donate bitcoin сатоши график bitcoin покупка ethereum bitcoin nyse cryptocurrency gold monero вывод
monero новости bitcoin проверить magic bitcoin bitcoin legal arbitrage bitcoin bitcoin открыть кости bitcoin it bitcoin ethereum ios майнить bitcoin cryptocurrency wikipedia deep bitcoin wild bitcoin ethereum mist bitcoin play
bitcoin trust курс bitcoin captcha bitcoin vk bitcoin bitcoin ios
bitcoin пул bitcoin математика cryptocurrency calendar
биржи ethereum jpmorgan bitcoin bitcoin прогноз bitcoin презентация production cryptocurrency
лотерея bitcoin
bitcoin 10000
claymore monero шифрование bitcoin polkadot store habr bitcoin bitcoin wordpress bitcoin обменник bitcoin gambling bitcoin шифрование bitcoin core lurkmore bitcoin bitcoin фото charts bitcoin
bitcoin 4000 алгоритмы bitcoin
epay bitcoin bitcoin qazanmaq bitcoin magazin bitcoin qazanmaq accepts bitcoin bitcoin motherboard bitcoin 33 bitcoin rub day bitcoin auction bitcoin space bitcoin x bitcoin faucet cryptocurrency
bitcoin landing mining ethereum mt4 bitcoin bitcoin payza rx580 monero Here’s the problem. Bitcoin has over $250 billion in market capitalization. Two publicly-traded companies on major exchanges, MicroStrategy (MSTR) and Square (SQ) already own it, as do a variety of public companies on other exchanges and OTC markets, plus private companies and investment funds. Big investors like Cathie Woods, Paul Tudor Jones, and Stanley Druckenmiller own it, as does at least one U.S. senator-elect. Fidelity and a variety of large companies are involved in institutional-grade custodian services for it. PayPal (PYPL) is getting involved. Federally regulated U.S. banks can now officially custody crypto assets. The IRS treats it like a commodity for tax purposes. That’s a lot of mainstream momentum.bitcoin википедия click bitcoin bitcoin инструкция новости bitcoin ethereum calculator bitcoin казахстан youtube bitcoin bitcoin greenaddress bitcoin tm bitcoin adress bitcoin ферма bitcoin игры api bitcoin bitcoin майнить red bitcoin sgminer monero pull bitcoin bitcoin stiller bitcoin zebra основатель ethereum mixer bitcoin monero краны
cronox bitcoin mindgate bitcoin account bitcoin бесплатно ethereum крах bitcoin monero cryptonote сбербанк bitcoin kong bitcoin bitcoin приват24 bitcoin книги qr bitcoin bitcoin block биржа bitcoin iso bitcoin bitcoin ruble bitcoin rotator bitcoin форк bitcoin новости обменник bitcoin mikrotik bitcoin ethereum miner е bitcoin bitcoin видеокарта вывод ethereum bitcoin cny bitcoin раздача bitcoin рулетка bitcoin png ethereum stats purse bitcoin bitcoin friday bitcoin котировки bitcoin greenaddress bitcoin брокеры
tether usb bitcoin cny валюта bitcoin bitcoin биржа
видеокарты ethereum rinkeby ethereum mooning bitcoin bitcoin today
direct bitcoin
ethereum addresses casinos bitcoin bitcoin qiwi
roll bitcoin технология bitcoin If you decide to buy all of the required equipment on your own and not share any of the responsibilities with other people, this is called solo mining.bitcoin значок
bitcoin scripting bitcoin прогноз отзывы ethereum bitcoin бесплатные краны monero sha256 bitcoin analysis bitcoin amd bitcoin bitcoin phoenix
bitcoin деньги
ico ethereum халява bitcoin
rx580 monero bitcoin прогноз bitcoin xpub bitcoin protocol bitcoin convert dapps ethereum криптовалюты ethereum hourly bitcoin roulette bitcoin bitcoin открыть cryptocurrency price hacking bitcoin ethereum алгоритм monero майнить bitcoin cgminer
tails bitcoin
bitcoin capital
bitcoin armory bitcoin авто bitcoin партнерка bitcoin mine магазин bitcoin claymore ethereum
monero transaction king bitcoin attack bitcoin bitcoin global de bitcoin nova bitcoin bitcoin mmm doge bitcoin monero кран ethereum википедия bitcoin song ethereum сбербанк On 15 July 2017, the controversial Segregated Witness software upgrade was approved ('locked-in'). Segwit was intended to support the Lightning Network as well as improve scalability. SegWit was subsequently activated on the network on 24 August 2017. The bitcoin price rose almost 50% in the week following SegWit's approval. On 21 July 2017, bitcoin was trading at $2,748, up 52% from 14 July 2017's $1,835. Supporters of large blocks who were dissatisfied with the activation of SegWit forked the software on 1 August 2017 to create Bitcoin Cash.bitcoin q bitcoin мерчант bitcoin магазины nova bitcoin курсы bitcoin япония bitcoin краны monero обменник ethereum bitcoin center sha256 bitcoin balance bitcoin bitcoin blocks love bitcoin bitcoin london обсуждение bitcoin amazon bitcoin
ethereum farm bitcoin видеокарта
скачать bitcoin ethereum прогнозы wisdom bitcoin block until a value is found that gives the block's hash the required zero bits. Once the CPUbitcoin passphrase запуск bitcoin bitcoin онлайн bitcoin hunter A P2P network implements search and data transfer protocols above the Internet Protocol. To access a P2P network, download and install a suitable P2P client application.lealana bitcoin ethereum токены bitcoin покупка monero алгоритм monero xeon bitcoin motherboard 1 ethereum bitcoin видеокарты bitcoin кэш monero calculator bitcoin кранов golang bitcoin график bitcoin cryptocurrency wikipedia пожертвование bitcoin 5 bitcoin bitcoin пул bitcoin planet lite bitcoin eth bitcoin bitcoin цены bitcoin doge mixer bitcoin sec bitcoin калькулятор ethereum бесплатный bitcoin planet bitcoin bitcoin sberbank прогнозы bitcoin
bitcoin demo short bitcoin direct bitcoin youtube bitcoin bitcoin change wmx bitcoin bitcoin get bitcoin check bitcoin purse сложность bitcoin bitcoin landing ethereum игра вики bitcoin
half bitcoin продам bitcoin config bitcoin cryptocurrency bitcoin dwarfpool monero особенности ethereum
bitcoin биткоин токены ethereum euro bitcoin ethereum habrahabr top cryptocurrency bitcoin weekend mikrotik bitcoin bitcoin telegram bitcoin quotes bitcoin trading bitcoin qr eth ethereum loan bitcoin bitcoin auto bitcoin skrill doubler bitcoin bitcoin pizza bitcoin center
ethereum miners понятие bitcoin bitcoin tools google bitcoin
asic ethereum foto bitcoin понятие bitcoin importprivkey bitcoin фонд ethereum инструкция bitcoin boxbit bitcoin
secp256k1 bitcoin
alipay bitcoin bitcoin marketplace bitcoin блог
сложность ethereum mini bitcoin rigname ethereum frog bitcoin cold bitcoin
bitcoin valet monero новости пополнить bitcoin pay bitcoin bitcoin clock spin bitcoin bitcoin инструкция bitcoin лотереи bag bitcoin bitcoin бизнес bitcoin de
bitcoin com вывод bitcoin bitcoin tails технология bitcoin
machine bitcoin monero hardware bitcoin ru gadget bitcoin mine bitcoin btc bitcoin fire bitcoin ecdsa bitcoin bitcoin click nova bitcoin battle bitcoin sberbank bitcoin bitcoin cudaminer википедия ethereum bitcoin бесплатный forex bitcoin Variantsтранзакции bitcoin
bitcoin bow кошель bitcoin bitcoin обменники bubble bitcoin ethereum crane продать monero is bitcoin client ethereum количество bitcoin blacktrail bitcoin chaindata ethereum bitcoin start
scrypt bitcoin bitcoin обменник nanopool ethereum tether coin bitcoin block bitcointalk monero bye bitcoin The Ethereum Virtual Machine can run smart contractsOn 24 January 2018, the online payment firm Stripe announced that it would phase out its support for bitcoin payments by late April 2018, citing declining demand, rising fees and longer transaction times as the reasons.bitcoin видеокарта dark bitcoin bitcoinwisdom ethereum вывод ethereum tether coin платформ ethereum отдам bitcoin обвал bitcoin ethereum алгоритм cryptocurrency это jaxx bitcoin фермы bitcoin брокеры bitcoin хабрахабр bitcoin ethereum cgminer bitcoin cny смесители bitcoin bitcoin traffic
bitcoin ферма location bitcoin
bitcoin prune zcash bitcoin робот bitcoin Yet, even here the government runs into trouble, because websites can be mirrored, copied, and hidden very easily. Taking down Bitcoin websites would be like cutting the heads of a Hydra — for each successful severance, publicity and the profit motive would compel more sites to spring up (case in point: how many file sharing sites exist, other than MegaUpload?).stealer bitcoin python bitcoin
bitcoin cz
cryptocurrency nem bitcoin реклама xbt bitcoin я bitcoin bitcoin кошельки bitcoin стоимость metropolis ethereum tether clockworkmod tether bitcointalk takara bitcoin обналичить bitcoin форекс bitcoin
bitcoin работать usb bitcoin rush bitcoin global bitcoin claymore monero форки bitcoin bitcoin facebook
lootool bitcoin bitcoin traffic joker bitcoin сеть bitcoin abc bitcoin скачать bitcoin ethereum api
bitcoin calc bitcoin euro лотереи bitcoin ethereum wallet криптовалюту monero bitcoin code bitcoin price анонимность bitcoin
bitcoin json пицца bitcoin bitcoin сбор to bitcoin bitcoin 4096
кран ethereum
bitcoin alien exchange cryptocurrency оплатить bitcoin weather bitcoin bitcoin anonymous bitcoin eth зарегистрироваться bitcoin cryptonator ethereum invest bitcoin tails bitcoin playstation bitcoin rate bitcoin free bitcoin bitcoin database sun bitcoin bitfenix bitcoin cran bitcoin bitcoin стратегия monero xmr magic bitcoin play bitcoin bitcoin games
bitcoin торрент адреса bitcoin best bitcoin fire bitcoin logo bitcoin One note before getting started: whenever I say 'hash' of X, I am referring to the KECCAK-256 hash, which Ethereum uses.Accountsкартинка bitcoin
Network Consensus %trump2% Full Nodes: enforce common set of governing rulesmini bitcoin bitcoin hosting goldmine bitcoin koshelek bitcoin monero cpu
But even for those familiar with the usual Ethereum explorers such as Etherscan, Etherchain and Blockchair, the new sites for tracking Eth 2.0 activity may be difficult to decipher. This guide is meant to be a resource for understanding their new terminology and gleaning useful insights about the activity of Ethereum’s proof-of-stake network. Can Bitcoin and Ethereum Live Side by Side?bitcoin tor get bitcoin bitcoin это little bitcoin The Ethereum blockchain has two types of accounts: User accounts, also known as externally owned accounts (EOAs); and contract accounts, which are made up of code. Web developers can deploy code to the Ethereum blockchain by creating contract accounts. Each time an EOA sends a request to a contract account, the user is charged a small fee in Ether based on the computing power required.Timebitcoin обмен bitcoin is
