Blockchain_2
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Questions and Answers

What were the main objectives of the lecture on Blockchain and Crypto-Economics?

  • Understanding the main differences between the Ethereum and Bitcoin blockchains (correct)
  • Analyzing the energy consumption of different blockchain networks
  • Exploring the use cases of Bitcoin and Ethereum
  • Learning about the history of blockchain technology

    • What is a deficit of Bitcoin mentioned in the text?

  • High throughput
  • High energy consumption
  • Lack of applicability in different use cases (correct)
  • Low latency

    • What was a key goal in designing Ethereum back in 2014 - 2015?

  • To improve the energy efficiency of blockchain technology
  • To increase the scalability of blockchain networks
  • To focus solely on p2p payments
  • To create a permissionless blockchain with a built-in Turing-complete programming language (correct)

    • What feature of Ethereum allows the creation of 'smart contracts' for decentralized applications?

    <p>A built-in Turing-complete programming language</p> Signup and view all the answers

    What is the purpose of the nonce in Ethereum transactions?

    <p>To count the number of confirmed transactions originating from an address</p> Signup and view all the answers

    How are transactions processed by validators in Ethereum?

    <p>Sequentially using the EVM, based on the nonce</p> Signup and view all the answers

    What happens if a user transmits two transactions with the same nonce but different recipients or values?

    <p>One will be confirmed and one will be rejected based on the order of arrival</p> Signup and view all the answers

    What is gas in the context of Ethereum transactions?

    <p>A measure of computational effort needed to execute specific operations</p> Signup and view all the answers

    What can wallets adjust to achieve faster confirmation of transactions in Ethereum?

    <p>GasPrice</p> Signup and view all the answers

    How is the nonce calculated in Ethereum?

    <p>Dynamically by counting the number of confirmed transactions originating from an address</p> Signup and view all the answers

    What is the purpose of the nonce in Ethereum transactions?

    <p>To count the number of confirmed transactions originating from an address</p> Signup and view all the answers

    What determines the price of gas in Ethereum transactions?

    <p>Auction-based mechanism</p> Signup and view all the answers

    Who created Ethereum?

    <p>Vitalik Buterin</p> Signup and view all the answers

    What is the native currency of Ethereum?

    <p>Ether (ETH)</p> Signup and view all the answers

    What type of consensus rules did Ethereum transition to in September 2022?

    <p>Proof-of-Stake (PoS)</p> Signup and view all the answers

    What is the name of the Swiss-based organization that supports the Ethereum ecosystem?

    <p>The Ethereum Foundation</p> Signup and view all the answers

    What data structure does the Ethereum network keep its state in?

    <p>Modified Merkle Patricia Trie</p> Signup and view all the answers

    What are the sub-units of Ether (ETH)?

    <p>Wei, Gigawei, Nanoether</p> Signup and view all the answers

    What type of model does Ethereum use?

    <p>Account-based model</p> Signup and view all the answers

    What are Smart Contracts on Ethereum?

    <p>Immutable, deterministic, and isolated computer programs executed by network nodes</p> Signup and view all the answers

    What does the Merkle root in a block efficiently store and retrieve within the Ethereum network?

    <p>Data</p> Signup and view all the answers

    What does the Ethereum P2P network persist?

    <p>The global state</p> Signup and view all the answers

    What are the two types of users supported by Ethereum?

    <p>Externally Owned Accounts and Smart Contracts</p> Signup and view all the answers

    What is the role of the Ethereum Foundation?

    <p>Supports the Ethereum ecosystem without controlling it</p> Signup and view all the answers

    What is the main data structure used in Ethereum tries, including the world state trie, account storage trie, transaction trie, and receipt trie?

    <p>Merkle Patricia Tree</p> Signup and view all the answers

    What does the global state trie in Ethereum contain for every account?

    <p>Key-value pair with the key being a 160-bit identifier and the value encoding account details</p> Signup and view all the answers

    What is stored as the storageRoot value in the global state in Ethereum?

    <p>256-bit hash of the storage trie’s root node</p> Signup and view all the answers

    What is generated after a transaction is executed in Ethereum to store gas used, logs generated, and the outcome of smart contract interactions?

    <p>Receipt</p> Signup and view all the answers

    What does the Ethereum Virtual Machine (EVM) use to establish a distributed, replicated state machine that processes transactions according to the Consensus mechanism?

    <p>Virtual ROM</p> Signup and view all the answers

    What is the 'nonce' in the context of Ethereum transactions?

    <p>A scalar value equal to the number of transactions sent from one address or the number of contract creations made by an account</p> Signup and view all the answers

    What type of Ethereum transaction includes details like the sender's address, recipient's address, signature, nonce, value, input data, gas limit, maxFeePerGas, and maxPriorityFeePerGas?

    <p>Regular</p> Signup and view all the answers

    What is the purpose of the 'nonce' in Ethereum transactions?

    <p>To prevent double spending and provide a way to order transactions</p> Signup and view all the answers

    What feature of Ethereum allows the creation of 'smart contracts' for decentralized applications?

    <p>Ethereum Virtual Machine (EVM)</p> Signup and view all the answers

    What are Ethereum transactions serialized as?

    <p>Binary messages</p> Signup and view all the answers

    What determines the type of Ethereum transaction, whether it's regular, contract deployment, or execution of a contract?

    <p>Fields included in the transaction</p> Signup and view all the answers

    What specific rules of changing state from block to block are defined by in Ethereum?

    <p>Ethereum Virtual Machine (EVM)</p> Signup and view all the answers

    What are some of the deficits of Bitcoin mentioned in the text?

    <p>Lack of applicability in different use cases and scalability issues</p> Signup and view all the answers

    What was a key goal in designing Ethereum back in 2014 - 2015?

    <p>To create a permissionless blockchain with a built-in Turing-complete programming language</p> Signup and view all the answers

    What are the main differences between the Ethereum and Bitcoin blockchains?

    <p>Ethereum supports a built-in Turing-complete programming language, while Bitcoin mainly supports p2p payments</p> Signup and view all the answers

    What does Ethereum aim to achieve with its permissionless blockchain and smart contract capabilities?

    <p>To enable the creation of decentralized applications and smart contracts</p> Signup and view all the answers

    What determines the price of gas in Ethereum transactions?

    <p>The auction-based mechanism</p> Signup and view all the answers

    What is the role of the nonce in Ethereum transactions?

    <p>Preventing duplicate transactions and ensuring transaction order</p> Signup and view all the answers

    What specific rule applies when a user transmits two transactions with the same nonce but different recipients or values?

    <p>One transaction will be confirmed, and the other will be rejected based on arrival order</p> Signup and view all the answers

    What is the purpose of gas in Ethereum transactions?

    <p>To measure computational effort needed for operations</p> Signup and view all the answers

    How are transactions processed by validators in Ethereum?

    <p>Sequentially using the EVM based on the nonce</p> Signup and view all the answers

    What does the use of the nonce prevent in Ethereum transactions?

    <p>Duplicate transactions</p> Signup and view all the answers

    What happens if a user transmits a transaction with a nonce of 0 and then transmits another with a nonce of 2?

    <p>The second transaction will not be included in any block</p> Signup and view all the answers

    What is the measure of computational effort needed to execute specific operations on the Ethereum network?

    <p>Gas</p> Signup and view all the answers

    What data structure does the Ethereum network keep its state in?

    <p>Modified Merkle Patricia Trie</p> Signup and view all the answers

    What type of consensus rules did Ethereum transition to in September 2022?

    <p>Proof-of-Stake (PoS)</p> Signup and view all the answers

    What are the sub-units of Ether (ETH)?

    <p>Wei, Gigawei, Nanoether</p> Signup and view all the answers

    What role does the Ethereum Foundation play?

    <p>Supports the Ethereum ecosystem without controlling it</p> Signup and view all the answers

    What feature of Ethereum allows the creation of 'smart contracts' for decentralized applications?

    <p>Ethereum Virtual Machine (EVM)</p> Signup and view all the answers

    What determines the price of gas in Ethereum transactions?

    <p>Market demand and supply</p> Signup and view all the answers

    What specific rules of changing state from block to block are defined by in Ethereum?

    <p>Consensus rules</p> Signup and view all the answers

    What is the purpose of the nonce in Ethereum transactions?

    <p>Preventing double spending</p> Signup and view all the answers

    What is the name of the creator of Ethereum?

    <p>Vitalik Buterin</p> Signup and view all the answers

    What is the purpose of the Ethereum P2P network?

    <p>Persist the global state</p> Signup and view all the answers

    What are the two types of users supported by Ethereum?

    <p>Externally Owned Accounts and Smart Contracts</p> Signup and view all the answers

    What does the Merkle root in a block efficiently store and retrieve within the Ethereum network?

    <p>Data</p> Signup and view all the answers

    What is the main data structure used in Ethereum tries, including the world state trie, account storage trie, transaction trie, and receipt trie?

    <p>Merkle Patricia Tree</p> Signup and view all the answers

    What does the global state trie in Ethereum contain for every account?

    <p>Single 160-bit identifier</p> Signup and view all the answers

    What is stored as the storageRoot value in the global state in Ethereum?

    <p>256-bit hash of the account storage trie's root node</p> Signup and view all the answers

    What are the components of the Ethereum Virtual Machine (EVM)?

    <p>Machine state, Program Counter (PC), Available Gas, Virtual ROM, EVM Code Stack, Memory, Account Storage Stack</p> Signup and view all the answers

    What is the purpose of the 'nonce' in Ethereum transactions?

    <p>Prevents double spending</p> Signup and view all the answers

    What is included in Ethereum transactions?

    <p>Sender's address, recipient's address, signature, nonce, value, input data, gas limit, maxFeePerGas</p> Signup and view all the answers

    What does a receipt generated after a transaction is executed in Ethereum store?

    <p>Gas used, logs generated, outcome of smart contract interactions</p> Signup and view all the answers

    What is the measure of computational effort needed to execute specific operations on the Ethereum network?

    <p>Gas</p> Signup and view all the answers

    What specific rules of changing state from block to block are defined by in Ethereum?

    <p>Ethereum Virtual Machine (EVM)</p> Signup and view all the answers

    What type of Ethereum transaction includes details like the sender's address, recipient's address, signature, nonce, value, input data, gas limit, maxFeePerGas, and maxPriorityFeePerGas?

    <p>Regular transaction</p> Signup and view all the answers

    What role does the Ethereum Virtual Machine (EVM) play?

    <p>Processing transactions</p> Signup and view all the answers

    What are Ethereum transactions serialized as?

    <p>Binary messages</p> Signup and view all the answers

    What is the purpose of the nonce in Ethereum transactions?

    <p>To prevent replay attacks and enforce transaction order</p> Signup and view all the answers

    What is the measure of computational effort needed to execute specific operations on the Ethereum network?

    <p>Gas</p> Signup and view all the answers

    What determines the price of gas in Ethereum transactions?

    <p>Auction-based mechanism</p> Signup and view all the answers

    How are transactions processed by validators in Ethereum?

    <p>Sequentially using the Ethereum Virtual Machine (EVM) based on the nonce</p> Signup and view all the answers

    What happens if a user transmits a transaction with a nonce of 0 and then transmits another with a nonce of 2?

    <p>The second transaction will not be included in any block</p> Signup and view all the answers

    What is the role of gasPrice in Ethereum transactions?

    <p>Wallets can adjust gasPrice to achieve faster confirmation of transactions</p> Signup and view all the answers

    What is the native currency of Ethereum?

    <p>Ether (ETH)</p> Signup and view all the answers

    What does the use of the nonce prevent in Ethereum transactions?

    <p>Replay attacks and enforces transaction order</p> Signup and view all the answers

    What is the name of Ethereum's native currency?

    <p>Ether (ETH)</p> Signup and view all the answers

    What type of model does Ethereum use?

    <p>Proof-of-Authority (PoA)</p> Signup and view all the answers

    What is the main data structure used in Ethereum to keep its state?

    <p>Merkle Patricia Trie</p> Signup and view all the answers

    What does the Merkle root in a block efficiently store and retrieve within the Ethereum network?

    <p>Global state trie</p> Signup and view all the answers

    What type of consensus rules did Ethereum transition to in September 2022?

    <p>Proof-of-Stake (PoS)</p> Signup and view all the answers

    What are the sub-units of Ether (ETH)?

    <p>Wei, gigawei, nanoether</p> Signup and view all the answers

    What is the purpose of gas in Ethereum transactions?

    <p>To limit the computational effort</p> Signup and view all the answers

    What is the measure of computational effort needed to execute specific operations on the Ethereum network?

    <p>Gas</p> Signup and view all the answers

    What happens if a user transmits two transactions with the same nonce but different recipients or values?

    <p>Both transactions are rejected</p> Signup and view all the answers

    What is the role of the Ethereum Foundation?

    <p>Supporting the Ethereum ecosystem without controlling it</p> Signup and view all the answers

    What does the Ethereum P2P network persist?

    <p>Global state</p> Signup and view all the answers

    What specific rules of changing state from block to block are defined by in Ethereum?

    <p>Consensus rules</p> Signup and view all the answers

    What was a key goal in designing Ethereum back in 2014 - 2015?

    <p>To create a permissionless blockchain with a Turing-complete programming language for smart contracts</p> Signup and view all the answers

    What is a deficit of Bitcoin mentioned in the text?

    <p>Lack of applicability in different use cases</p> Signup and view all the answers

    What is the measure of computational effort needed to execute specific operations on the Ethereum network?

    <p>Gas</p> Signup and view all the answers

    What does the global state trie in Ethereum contain for every account?

    <p>Account balance and contract code</p> Signup and view all the answers

    What are the main differences between the Ethereum and Bitcoin blockchains according to the text?

    <p>Bitcoin has scalability issues and high energy consumption, while Ethereum supports the creation of 'smart contracts' and decentralized applications</p> Signup and view all the answers

    What were the goals in designing Ethereum back in 2014 - 2015 according to the text?

    <p>To create a permissionless blockchain with a built-in Turing-complete programming language for 'smart contracts' and decentralized applications</p> Signup and view all the answers

    What are some deficits of Bitcoin mentioned in the text?

    <p>Lack of applicability in different use cases and high energy consumption</p> Signup and view all the answers

    How did Ethereum achieve its goals in designing a blockchain according to the text?

    <p>By creating a permissionless blockchain with a built-in Turing-complete programming language for 'smart contracts' and decentralized applications</p> Signup and view all the answers

    What is the purpose of the nonce in Ethereum transactions?

    <p>To prevent replay attacks and enforce the order of transactions.</p> Signup and view all the answers

    What determines the price of gas in Ethereum transactions?

    <p>An auction-based mechanism.</p> Signup and view all the answers

    How are transactions processed by validators in Ethereum?

    <p>Sequentially using the Ethereum Virtual Machine (EVM), based on the nonce.</p> Signup and view all the answers

    What does the term 'gas' represent in Ethereum transactions?

    <p>A measure of computational effort needed to execute specific operations.</p> Signup and view all the answers

    What happens if a user transmits two transactions with the same nonce but different recipients or values?

    <p>One of them will be confirmed and one will be rejected based on the order in which they arrive at the validating node.</p> Signup and view all the answers

    What is the role of the nonce in preventing gaps in transactions?

    <p>Ensuring that transactions are included in blocks in the correct order.</p> Signup and view all the answers

    What is the primary function of the nonce in Ethereum transactions?

    <p>To uniquely identify and order transactions originating from an account.</p> Signup and view all the answers

    What does the term 'gasPrice' represent in Ethereum transactions?

    <p>The amount of Ether paid per unit of gas for a transaction.</p> Signup and view all the answers

    What is the measure of computational effort needed to execute specific operations on the Ethereum network?

    <p>Gas</p> Signup and view all the answers

    What is the name of the Swiss-based organization that supports the Ethereum ecosystem?

    <p>Ethereum Foundation</p> Signup and view all the answers

    What data structure does the Ethereum network keep its state in?

    <p>Merkle Tree</p> Signup and view all the answers

    What type of consensus rules did Ethereum transition to in September 2022?

    <p>Proof-of-Stake (PoS)</p> Signup and view all the answers

    What does the Merkle root in a block efficiently store and retrieve within the Ethereum network?

    <p>Global state</p> Signup and view all the answers

    What is the purpose of the 'nonce' in Ethereum transactions?

    <p>Preventing replay attacks</p> Signup and view all the answers

    What are the sub-units of Ether (ETH)?

    <p>Milliether, Microether, Nanoether</p> Signup and view all the answers

    What role does the Ethereum Foundation play?

    <p>Supporting the Ethereum ecosystem without controlling it</p> Signup and view all the answers

    What does the Ethereum P2P network persist?

    <p>Global state</p> Signup and view all the answers

    What specific rules of changing state from block to block are defined by in Ethereum?

    <p>Consensus mechanisms</p> Signup and view all the answers

    What determines the price of gas in Ethereum transactions?

    <p>Network congestion</p> Signup and view all the answers

    What determines the type of Ethereum transaction, whether it's regular, contract deployment, or execution of a contract?

    <p>Transaction nonce</p> Signup and view all the answers

    What is the main data structure used in Ethereum to keep its state?

    <p>Merkle Patricia Tree</p> Signup and view all the answers

    What does the global state trie in Ethereum contain for every account?

    <p>Account details such as nonce, balance, storageRoot, and codeHash</p> Signup and view all the answers

    What is stored as the storageRoot value in the global state in Ethereum?

    <p>256-bit hash of the storage trie’s root node</p> Signup and view all the answers

    What determines the type of Ethereum transaction, whether it's regular, contract deployment, or execution of a contract?

    <p>Presence of 'to' address</p> Signup and view all the answers

    What does the 'nonce' represent in the context of Ethereum transactions?

    <p>Number of transactions sent from one address or the number of contract creations made by an account</p> Signup and view all the answers

    Which component of the Ethereum Virtual Machine (EVM) is responsible for tracking the current position in the program?

    <p>Program Counter (PC)</p> Signup and view all the answers

    What is the measure of computational effort needed to execute specific operations on the Ethereum network?

    <p>Gas</p> Signup and view all the answers

    What is the role of the Ethereum Foundation?

    <p>Funding research and development of the Ethereum protocol</p> Signup and view all the answers

    What are Ethereum transactions serialized as?

    <p>Binary messages</p> Signup and view all the answers

    What happens if a user transmits two transactions with the same nonce but different recipients or values?

    <p>Both transactions are rejected</p> Signup and view all the answers

    What feature of Ethereum allows the creation of 'smart contracts' for decentralized applications?

    <p>Ethereum Virtual Machine (EVM)</p> Signup and view all the answers

    What type of consensus rules did Ethereum transition to in September 2022?

    <p>Proof of Stake (PoS)</p> Signup and view all the answers

    Study Notes

    Understanding Ethereum and Ether

    • Ethereum, created in 2013 by Vitalik Buterin, is a blockchain platform for decentralized applications.
    • The Ethereum Foundation, a Swiss-based organization, supports the Ethereum ecosystem without controlling it.
    • The Foundation received 12 million ETH from the initial supply for ecosystem support and development.
    • Ethereum's native currency is Ether (ETH), with sub-units such as wei, gigawei, and nanoether.
    • Ethereum has a high number of active users and daily transactions, making it a significant player in the cryptocurrency space.
    • The Ethereum network consists of key components like the P2P network, state machine, transactions, blocks, and consensus rules.
    • Ethereum uses an account-based model and supports two types of users: Externally Owned Accounts and Smart Contracts.
    • Smart contracts on Ethereum are immutable, deterministic, and isolated computer programs executed by network nodes.
    • The Ethereum network keeps its state in a modified Merkle Patricia Trie data structure, reducible to a single root hash stored on the blockchain.
    • The Merkle root in a block is used to efficiently store and retrieve data within the Ethereum network.
    • Ethereum's network transitioned from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus rules in September 2022.
    • Ethereum's P2P network persists the global state, while accounts and addresses keep track of balances associated with transactions.

    Ethereum Blockchain and Merkle Patricia Tree

    • Merkle Patricia Tree is used as the main data structure in Ethereum tries: world state trie, account storage trie, transaction trie, and receipt trie.
    • The global state trie in Ethereum contains a key-value pair for every account, with the key being a single 160-bit identifier (the address of an Ethereum account) and the value encoding account details such as nonce, balance, storageRoot, and codeHash.
    • Each Ethereum account has its own storage trie where all the contract data lives, and a 256-bit hash of the storage trie’s root node is stored as the storageRoot value in the global state.
    • Each Ethereum block has its own separate transaction trie, and after a transaction is executed, a receipt is generated to store gas used, logs generated, and the outcome of smart contract interactions.
    • Ethereum nodes run the Ethereum Virtual Machine (EVM) to establish a distributed, replicated state machine that processes transactions according to the Consensus mechanism.
    • The Ethereum Virtual Machine (EVM) has components like the Machine state, Program Counter (PC), Available Gas, Virtual ROM, EVM Code Stack, Memory, and Account Storage Stack, and all operations are performed in the stack.
    • The specific rules of changing state from block to block are defined by the EVM.
    • Ethereum transactions are serialized binary messages containing fields such as From, Recipient, Signature, Nonce, Value, Input data, Gas Limit, maxPriorityFeePerGas, maxFeePerGas, and can be of different types: Regular, Contract deployment, or Execution of a contract.
    • The "nonce" is a scalar value equal to the number of transactions sent from one address or the number of contract creations made by an account.
    • Ethereum employs a set of “tries” to provide traceability of state changes, and the state is changed by P2P transactions and smart contracts.
    • Ethereum transactions include details like the sender's address, recipient's address, signature, nonce, value, input data, gas limit, maxFeePerGas, and maxPriorityFeePerGas.
    • Ethereum transactions can be of different types, including regular transactions from one account to another, contract deployment without a 'to' address, and execution of a contract interacting with a deployed smart contract.

    Understanding Ethereum and Ether

    • Ethereum, created in 2013 by Vitalik Buterin, is a blockchain platform for decentralized applications.
    • The Ethereum Foundation, a Swiss-based organization, supports the Ethereum ecosystem without controlling it.
    • The Foundation received 12 million ETH from the initial supply for ecosystem support and development.
    • Ethereum's native currency is Ether (ETH), with sub-units such as wei, gigawei, and nanoether.
    • Ethereum has a high number of active users and daily transactions, making it a significant player in the cryptocurrency space.
    • The Ethereum network consists of key components like the P2P network, state machine, transactions, blocks, and consensus rules.
    • Ethereum uses an account-based model and supports two types of users: Externally Owned Accounts and Smart Contracts.
    • Smart contracts on Ethereum are immutable, deterministic, and isolated computer programs executed by network nodes.
    • The Ethereum network keeps its state in a modified Merkle Patricia Trie data structure, reducible to a single root hash stored on the blockchain.
    • The Merkle root in a block is used to efficiently store and retrieve data within the Ethereum network.
    • Ethereum's network transitioned from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus rules in September 2022.
    • Ethereum's P2P network persists the global state, while accounts and addresses keep track of balances associated with transactions.

    Ethereum Blockchain and Merkle Patricia Tree

    • Merkle Patricia Tree is used as the main data structure in Ethereum tries: world state trie, account storage trie, transaction trie, and receipt trie.
    • The global state trie in Ethereum contains a key-value pair for every account, with the key being a single 160-bit identifier (the address of an Ethereum account) and the value encoding account details such as nonce, balance, storageRoot, and codeHash.
    • Each Ethereum account has its own storage trie where all the contract data lives, and a 256-bit hash of the storage trie’s root node is stored as the storageRoot value in the global state.
    • Each Ethereum block has its own separate transaction trie, and after a transaction is executed, a receipt is generated to store gas used, logs generated, and the outcome of smart contract interactions.
    • Ethereum nodes run the Ethereum Virtual Machine (EVM) to establish a distributed, replicated state machine that processes transactions according to the Consensus mechanism.
    • The Ethereum Virtual Machine (EVM) has components like the Machine state, Program Counter (PC), Available Gas, Virtual ROM, EVM Code Stack, Memory, and Account Storage Stack, and all operations are performed in the stack.
    • The specific rules of changing state from block to block are defined by the EVM.
    • Ethereum transactions are serialized binary messages containing fields such as From, Recipient, Signature, Nonce, Value, Input data, Gas Limit, maxPriorityFeePerGas, maxFeePerGas, and can be of different types: Regular, Contract deployment, or Execution of a contract.
    • The "nonce" is a scalar value equal to the number of transactions sent from one address or the number of contract creations made by an account.
    • Ethereum employs a set of “tries” to provide traceability of state changes, and the state is changed by P2P transactions and smart contracts.
    • Ethereum transactions include details like the sender's address, recipient's address, signature, nonce, value, input data, gas limit, maxFeePerGas, and maxPriorityFeePerGas.
    • Ethereum transactions can be of different types, including regular transactions from one account to another, contract deployment without a 'to' address, and execution of a contract interacting with a deployed smart contract.

    Understanding Ethereum and Ether

    • Ethereum, created in 2013 by Vitalik Buterin, is a blockchain platform for decentralized applications.
    • The Ethereum Foundation, a Swiss-based organization, supports the Ethereum ecosystem without controlling it.
    • The Foundation received 12 million ETH from the initial supply for ecosystem support and development.
    • Ethereum's native currency is Ether (ETH), with sub-units such as wei, gigawei, and nanoether.
    • Ethereum has a high number of active users and daily transactions, making it a significant player in the cryptocurrency space.
    • The Ethereum network consists of key components like the P2P network, state machine, transactions, blocks, and consensus rules.
    • Ethereum uses an account-based model and supports two types of users: Externally Owned Accounts and Smart Contracts.
    • Smart contracts on Ethereum are immutable, deterministic, and isolated computer programs executed by network nodes.
    • The Ethereum network keeps its state in a modified Merkle Patricia Trie data structure, reducible to a single root hash stored on the blockchain.
    • The Merkle root in a block is used to efficiently store and retrieve data within the Ethereum network.
    • Ethereum's network transitioned from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus rules in September 2022.
    • Ethereum's P2P network persists the global state, while accounts and addresses keep track of balances associated with transactions.

    Ethereum Blockchain and Merkle Patricia Tree

    • Merkle Patricia Tree is used as the main data structure in Ethereum tries: world state trie, account storage trie, transaction trie, and receipt trie.
    • The global state trie in Ethereum contains a key-value pair for every account, with the key being a single 160-bit identifier (the address of an Ethereum account) and the value encoding account details such as nonce, balance, storageRoot, and codeHash.
    • Each Ethereum account has its own storage trie where all the contract data lives, and a 256-bit hash of the storage trie’s root node is stored as the storageRoot value in the global state.
    • Each Ethereum block has its own separate transaction trie, and after a transaction is executed, a receipt is generated to store gas used, logs generated, and the outcome of smart contract interactions.
    • Ethereum nodes run the Ethereum Virtual Machine (EVM) to establish a distributed, replicated state machine that processes transactions according to the Consensus mechanism.
    • The Ethereum Virtual Machine (EVM) has components like the Machine state, Program Counter (PC), Available Gas, Virtual ROM, EVM Code Stack, Memory, and Account Storage Stack, and all operations are performed in the stack.
    • The specific rules of changing state from block to block are defined by the EVM.
    • Ethereum transactions are serialized binary messages containing fields such as From, Recipient, Signature, Nonce, Value, Input data, Gas Limit, maxPriorityFeePerGas, maxFeePerGas, and can be of different types: Regular, Contract deployment, or Execution of a contract.
    • The "nonce" is a scalar value equal to the number of transactions sent from one address or the number of contract creations made by an account.
    • Ethereum employs a set of “tries” to provide traceability of state changes, and the state is changed by P2P transactions and smart contracts.
    • Ethereum transactions include details like the sender's address, recipient's address, signature, nonce, value, input data, gas limit, maxFeePerGas, and maxPriorityFeePerGas.
    • Ethereum transactions can be of different types, including regular transactions from one account to another, contract deployment without a 'to' address, and execution of a contract interacting with a deployed smart contract.

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    Ethereum Network and Ecosystem PDF

    Description

    Test your knowledge of Ethereum and Ether with this quiz covering key concepts such as the Ethereum blockchain, Ether currency, Merkle Patricia Tree, Ethereum Virtual Machine, consensus mechanisms, and transaction details. Whether you're new to Ethereum or a seasoned enthusiast, this quiz will challenge your understanding of this influential blockchain platform and its native cryptocurrency.

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