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.
Living somewhere very hot meaning that all that equipment running would generate an unbearable amount of heat.bitcoin earn blocks bitcoin bitcoin address
ethereum описание
bitcoin hunter equihash bitcoin code bitcoin
bitcoin скачать monero кран bitcoin matrix ethereum btc block bitcoin bitcoin in xbt bitcoin monero стоимость json bitcoin billionaire bitcoin криптовалют ethereum bitcoin робот bitcoin me auction bitcoin tor bitcoin cryptocurrency reddit bitcoin now bitcoin ixbt
trade cryptocurrency оборудование bitcoin сайте bitcoin bitcoin блог bitcoin торрент отзывы ethereum ethereum форум обои bitcoin invest bitcoin кран bitcoin bitcoin безопасность bitcoin coins
bitcoin купить цена ethereum bitcoin testnet майнить ethereum магазины bitcoin bitcoin symbol
bitcoin keys
ethereum регистрация bitcoin store
monero *****u bitcoin scan cryptocurrency mining
in bitcoin bitcoin instant bitcoin clicks bitcoin registration cryptocurrency magazine bitcoin antminer 2016 bitcoin chain bitcoin обмен tether monero client bitcoin scripting my ethereum topfan bitcoin konverter bitcoin monero краны
форекс bitcoin generator bitcoin bitcoin blocks bitcoin рухнул
monero краны login bitcoin bitcoin rpc майнить ethereum cryptocurrency trading
bitcoin математика эфириум ethereum bitcoin algorithm vk bitcoin 6000 bitcoin bitcoin пожертвование портал bitcoin bitcoin doubler кошель bitcoin carding bitcoin bitcoin аналоги bitcoin spin bitcoin eth dogecoin bitcoin bitcoin аналоги ethereum валюта neteller bitcoin credit bitcoin bitcoin kran magic bitcoin bitcoin оборот autobot bitcoin калькулятор ethereum lurkmore bitcoin
ethereum форк фермы bitcoin
*****a bitcoin bank bitcoin 999 bitcoin bitcoin fpga bitcoin gift key bitcoin bitcoin это fast bitcoin clockworkmod tether ethereum курс продам ethereum ethereum википедия kurs bitcoin bitcoin 100
кран bitcoin bitcoin linux bitcoin работать
adbc bitcoin bitcoin вектор
autobot bitcoin падение bitcoin ethereum btc bitcoin кэш tether приложения bitcoin обменник луна bitcoin bitcoin system хешрейт ethereum программа bitcoin bitcoin weekend bitcoin отследить
ethereum dark Hash Rate- 415 H/sbitcoin js
bitcoin zona cryptonight monero
the ethereum ethereum обменять bitcoin maps joker bitcoin bitcoin переводчик gif bitcoin faucets bitcoin форумы bitcoin
hourly bitcoin bitcoin рубль лотереи bitcoin bitcoin change case bitcoin баланс bitcoin webmoney bitcoin
code bitcoin
Consistency can be sacrificed for simplicity in some cases, but it is better to drop those parts of the design that deal with less common circumstances than to introduce either implementational complexity or inconsistency.bitcoin etherium bear bitcoin trade cryptocurrency fx bitcoin bitcoin зебра bitcoin paw wikipedia ethereum ethereum ann пул monero google bitcoin escrow bitcoin bitcoin комиссия monero benchmark miningpoolhub ethereum bitcoin in poloniex monero bitcoin start bitcoin euro bitcoin pools сети ethereum tether android code bitcoin swarm ethereum faucet cryptocurrency The HMRC does not classify cryptocurrency splits as taxation events. According to HMRC, 'The value of the new cryptoassets is derived from the original cryptoassets already held by the individual.' In relation to the cost base, HMRC says that 'Costs must be split on a just and reasonable basis under section 52(4) Taxation of Capital Gains Act 1992. HMRC does not prescribe any particular apportionment method. HMRC has the power to enquire into an apportionment method that it believes is not just and reasonable.'форекс bitcoin платформ ethereum 777 bitcoin bitcoin brokers
eth ethereum bitcoin bloomberg keystore ethereum phoenix bitcoin bitcoin official рубли bitcoin blake bitcoin monero node qiwi bitcoin стоимость ethereum ubuntu bitcoin обозначение bitcoin транзакции bitcoin mac bitcoin bitcoin indonesia monero transaction bitcoin venezuela cold bitcoin система bitcoin
ethereum dao
монета ethereum addnode bitcoin ecopayz bitcoin carding bitcoin комиссия bitcoin bitcoin робот home bitcoin луна bitcoin
bitcoin zona lavkalavka bitcoin ethereum видеокарты bitcoin форки bitcoin anonymous exchange ethereum bitcoin автосборщик bitcoin часы куплю bitcoin mining ethereum торги bitcoin bitcoin анонимность bitcoin simple monero кошелек fpga ethereum
avatrade bitcoin
кошель bitcoin bitfenix bitcoin видео bitcoin bitcoin xt bitcoin algorithm blogspot bitcoin
miningpoolhub ethereum ethereum crane moto bitcoin bitcoin комиссия bitcointalk ethereum bitcoin poloniex ethereum акции обмен tether amazon bitcoin bitcoin explorer bitcoin fire bitcoin смесители bitcoin хардфорк торговать bitcoin bitcoin torrent Another example is a crop insurance application that’s dependent on an outside weather feed. Say a farmer buys a derivative that automatically pays out if a drought wipes out her crops.bitcoin виджет
bitcoin department приложение tether кредиты bitcoin Bitcoin was invented to be like a new, modern form of gold and silver. Like some libertarian sci-fi form of money.monero bitcointalk alien bitcoin инструмент bitcoin captcha bitcoin remix ethereum source bitcoin fpga ethereum магазины bitcoin cryptocurrency mining рынок bitcoin bitcoin instagram покер bitcoin обмен bitcoin
ethereum стоимость
to bitcoin bitcoin word forecast bitcoin ethereum chaindata bitcoin golden bitcoin usa monero майнить кошель bitcoin bitcoin hype бесплатно bitcoin
bitcoin график maps bitcoin
bitcoin course математика bitcoin rate bitcoin стратегия bitcoin проект bitcoin bitcoin zona bitcoin playstation dwarfpool monero monero сложность foto bitcoin ethereum wikipedia bitcoin spinner bitcointalk monero bitcoin map all bitcoin значок bitcoin bitcoin лотерея bitcoin get компьютер bitcoin 8 bitcoin Monero's Research Lab, Core Development Team and Community Developers are constantly pushing the frontier of what is possible with cryptocurrency privacy and security.cap bitcoin сша bitcoin blog bitcoin платформ ethereum bitcoin yandex bitcoin playstation
bitcoin expanse bitcoin payeer bitcoin mac количество bitcoin buying bitcoin In Bitcoin, every time a miner adds a block to the blockchain, he is rewarded with 12.5 bitcoins. This reward is expected to be halved every 210,000 blocks. The next time the reward will be halved will be in 2020; the reward will then be reduced from 12.5 bitcoins to 6.25 bitcoins per block. In Etherium a miner, or validator, receives a value of 3 ether every time a block is added to the blockchain, and the reward will never be halved.bitcoin de abi ethereum bitcoin комбайн биржа ethereum
верификация tether bitcoin сбор bitcoin qt установка bitcoin bitcoin s nonce bitcoin
bitcoin maps cryptocurrency wallets транзакция bitcoin ethereum игра
bitcoin mmgp bitcoin генератор заработать monero bitcoin кошелек лото bitcoin особенности ethereum bitcoin 4pda bitcoin book bitcoin оплатить bitcoin приложения bitcoin vk отзывы ethereum
time bitcoin bitcoin книга bitcoin ключи
film bitcoin платформу ethereum сбор bitcoin bitcoin talk nodes bitcoin 1000 bitcoin бесплатные bitcoin blogspot bitcoin bitcoin миксер local ethereum Trustless: No trusted third parties means that users don’t have to trust the system for it to work. Users are in complete control of their money and information at all times.bitcoin torrent bitcoin block рост bitcoin chaindata ethereum bitcoin auction moneybox bitcoin ethereum io robot bitcoin
cryptocurrency calendar bitcoin space monero difficulty accelerator bitcoin tether limited bitcoin info future bitcoin bistler bitcoin теханализ bitcoin
bitcoin презентация mixer bitcoin ethereum russia
okpay bitcoin pool bitcoin js bitcoin cryptonator ethereum 1 monero buy tether bitcoin tails bitcoin play prune bitcoin
monero новости 8 bitcoin bitcoin hyip
теханализ bitcoin bitcoin 1070 wikileaks bitcoin комиссия bitcoin торги bitcoin index bitcoin
bitcoin 2 bitcoin история poloniex monero bitcoin анализ bitcoin hash l bitcoin bitcoin сеть ethereum контракты фарм bitcoin bitcoin planet ethereum пулы skrill bitcoin alliance bitcoin генераторы bitcoin вложения bitcoin total cryptocurrency bitcoin кошелька
2 bitcoin bitcoin бумажник портал bitcoin платформ ethereum bitcoin value bitcoin iso 9000 bitcoin the ethereum cloud miningзначок bitcoin ethereum org cryptocurrency dash статистика ethereum ethereum описание сложность monero bitcoin клиент ethereum рубль
bitcoin play bitcoin up ethereum tokens preev bitcoin скрипты bitcoin monero bitcointalk bitcoin daemon ethereum stratum bitcoin flapper получить bitcoin
настройка monero торрент bitcoin boom bitcoin short bitcoin british bitcoin p2p bitcoin monero пулы Vitalik Buterin Introduces DAICO, A New Fundraising Model: So What is DAICO?2) Each node collects new transactions into a block.fund capital-intensive enterprises that had a relatively low risk profile: businesses, farms, and local governments. In the 14th century Lowlands, two economic profiles emerged. In the coastal area, with sandy soils and regularlyregistration bitcoin bitcoin litecoin bitcoin шрифт обмена bitcoin фермы bitcoin ethereum описание курс bitcoin
акции ethereum bitcoin grafik love bitcoin
autobot bitcoin проекта ethereum bitcoin accelerator bitcoin development to bitcoin скрипты bitcoin scrypt bitcoin tp tether p2pool bitcoin dog bitcoin ethereum calc bitcoin бонусы bitcoin ферма bitcoin word credit bitcoin ico cryptocurrency ethereum browser
кошелька ethereum bitcoin central bitcoin kaufen 1000 bitcoin bitcoin double bitcoin безопасность forum cryptocurrency arbitrage bitcoin bitcoin 99 bitcoin инструкция bitcoin generation bitcoin spin One important rule for all investors is this: only invest what you’re willing to lose. The world of crypto is volatile and *****; anything can happen. Don’t make investments you can’t afford and do your research before you put your money in.What Is Ethereum?According to the payment platform, mainstream use of cryptocurrencies has largely been 'hindered by their limited utility as an instrument of exchange due to volatility, cost and speed to transact.' халява bitcoin lazy bitcoin sportsbook bitcoin service bitcoin claymore monero bitcoin asics bitcoin bonus bitcoin video
ethereum txid bitcoin capital баланс bitcoin банкомат bitcoin
bitcoin masters global bitcoin пулы monero cryptocurrency ethereum википедия
programming bitcoin ethereum usd bitcoin раздача bitcoin golden key bitcoin remix ethereum
bitcoin программа ethereum casper бумажник bitcoin автосборщик bitcoin greenaddress bitcoin bitcoin биржи
best bitcoin bitcoin red bitcoin стратегия ethereum токены майнинга bitcoin
дешевеет bitcoin
https://etherscan.io/address/0xcbe1060ee68bc0fed3c00f13d6f110b7eb6434f6#codeservice bitcoin oil bitcoin баланс bitcoin bitcoin вход ethereum сайт
usa bitcoin
bitcoin 1000
bitcoin alliance email bitcoin 50 bitcoin ethereum news
best bitcoin
bitcoin котировки bitcoin carding monero fr bitcoin конвертер app bitcoin ninjatrader bitcoin *****a bitcoin
курс ethereum смесители bitcoin bitcoin сервисы monero курс bitcoin make ethereum stratum ethereum casino майнинг monero
playstation bitcoin
удвоить bitcoin bitcoin foto easy bitcoin monero proxy bitcoin 2017 ethereum алгоритм fast bitcoin bitcoin machine ethereum raiden
bitcoin world ecopayz bitcoin se*****256k1 bitcoin bitcoin анонимность bitcoin server fpga ethereum bitcoin novosti футболка bitcoin удвоить bitcoin иконка bitcoin bitcoin майнер bitcoin foundation microsoft ethereum ethereum падение bitcoin trojan vector bitcoin cryptocurrency tech bitcoin protocol bitcoin кошелек биржа bitcoin bitcoin linux bitcoin alien хардфорк ethereum
bitcoin сокращение bitcoin market
bitcoin спекуляция bitcoin википедия
шрифт bitcoin bitcoin прогноз ethereum форум bitcoin теория bitcoin average blockchain ethereum
tether gps
bitcoin escrow hourly bitcoin bitcoin china bitcoin машины If you notice that your device is slower than usual, burns through battery power quickly, or crashes, your device might have been cryptojacked. Here is what to do about it:topfan bitcoin bitcoin mempool 1080 ethereum putin bitcoin взлом bitcoin
monero js трейдинг bitcoin mac bitcoin algorithm bitcoin сети ethereum bitcoin lucky bitcoin arbitrage биткоин bitcoin сокращение bitcoin ico bitcoin
The final receipt *is the entry*. Then, the *collection of signed receipts* becomes the accounts, in accounting terms. Which collection replaces ones system of double entry bookkeeping, because the single digitally signed receipt is a better evidence than the two entries that make up the transaction, and the collection of signed receipts is a better record than the entire chart of accounts .bitcoin primedice банкомат bitcoin bitcoin earn bitcoin wallpaper late as 1820, Adam Smith in The Wealth of Nations praised the money ofbitcoin laundering bitcoin оборудование bitcoin вебмани It is easy to start mining bitcoins but it can be very difficult to profit from bitcoin mining. Bitcoin mining has become a lottery system for new bitcoins. Anyone mining bitcoins has a ‘Hash Rate’, which is a measurement of how many math calculations your computer is doing per second. Think of your hash rate as a ticket entry for the bitcoin lottery; increasing your computer hash rate, the number of math problems they solve, gives you a better chance at finding a bitcoin block and winning the free bitcoins! Every bitcoin miner in the world is competing to find the same blocks so anytime someone new starts mining bitcoins it becomes harder for every person in the world to find a block. Every two weeks the bitcoin network difficulty factor is recalculated to make sure that blocks are found on average every 10 minutes, the difficulty almost always goes up which means every day it becomes harder to mine bitcoins. Bitcoin has become so difficult to mine that the vast majority of miners join a bitcoin mining pool.wallets cryptocurrency blocks bitcoin ферма ethereum bitcoin wmx pos bitcoin monero криптовалюта bitcoin best bitcoin qiwi bitcoin plus fun bitcoin кости bitcoin bitcoin выиграть In June 2016, the London Review of Books published a piece by Andrew O'Hagan about Nakamoto. The real identity of Satoshi Nakamoto still remains a matter of dispute.ethereum биржа (TMFUltraLong)Every computer that is connected to the network (called a 'Node') attempts to solve the puzzle as quickly as possible. Whoever solves the puzzle first, gets a reward – free, new Bitcoin. However, in reality, the Bitcoin reward is not free, as the user had to use their surplus computational power, which consumes lots of electricity!bitcoin таблица fake bitcoin micro bitcoin bistler bitcoin
cryptocurrency trade By Learning - Coinbase Holiday Dealперспективы ethereum car bitcoin bitcoin simple steam bitcoin иконка bitcoin xbt bitcoin bitcoin future avto bitcoin ethereum erc20 bitcoin price monero 1060 enterprise ethereum bitcoin протокол wirex bitcoin ethereum gas conference bitcoin my ethereum
bitcoin mmgp node bitcoin ethereum сайт цена bitcoin
gadget bitcoin atm bitcoin форумы bitcoin monero пул майнер ethereum bitcoin пицца bitcoin qiwi bitcoin автоматически настройка ethereum ethereum faucets платформу ethereum
китай bitcoin bitcoin вывести сложность monero покупка ethereum лотерея bitcoin bitcoin russia bitcoin bcc lazy bitcoin обмен ethereum bitcoin links
bitcoin money казино ethereum bitcoin заработать ethereum хешрейт 999 bitcoin dash cryptocurrency история bitcoin bitcoin joker
расчет bitcoin btc ethereum bitcoin tm bitcoin генераторы The software is an open source which means that anybody can check it to see if does what it needs to do.bitcoin stealer bitcoin statistics Mining pools generally have a signup process on their website so miners can connect to the pool and begin mining.tether android For a deeper dive on specific topics related to blockchain, we recommend:взлом bitcoin эфир ethereum цена ethereum
cryptocurrency trading poloniex ethereum bitcoin etf dwarfpool monero bitcoin icons ethereum 4pda poker bitcoin bitcoin service
bitcoin приложения кран ethereum
криптовалюта bitcoin запросы bitcoin
курсы bitcoin биржа bitcoin ставки bitcoin
monero курс ethereum это
сборщик bitcoin pokerstars bitcoin bitcoin legal bitcoin withdrawal generator bitcoin
rinkeby ethereum вход bitcoin bitcoin bcc bitcoin pdf математика bitcoin ethereum клиент
chvrches tether bitcoin майнить daemon monero криптовалюту bitcoin bitcoin экспресс
ethereum clix antminer bitcoin fast bitcoin сеть ethereum токен bitcoin bitcoin co bitcoin ферма tether usdt ethereum org bitcoin crash
cryptocurrency calendar scrypt bitcoin bitcoin earnings
email bitcoin wallet tether bitcoin payment cryptocurrency calendar putin bitcoin poloniex ethereum bitcoin hyip tether верификация
Theft also occurs at sites where bitcoins are used to purchase illicit goods. In late November 2013, an estimated $100 million in bitcoins were allegedly stolen from the online illicit goods marketplace Sheep Marketplace, which immediately closed. Users tracked the coins as they were processed and converted to cash, but no funds were recovered and no culprits identified. A different black market, Silk Road 2, stated that during a February 2014 hack, bitcoins valued at $2.7 million were taken from escrow accounts.moto bitcoin использование bitcoin bitcoin код
BulletproofsZcash offers total payment confidentiality while still maintaining a decentralized network using a public blockchain. Zcash transactions automatically hide the sender, recipient and value of all transactions on the blockchain. Only those with the correct view key can see the contents of a transaction. Since the contents of Zcash transactions are encrypted and private, the system uses a novel cryptographic method to verify payments.перспективы ethereum
