Ethereum: Technical details of Bitcoin transactions and blockchain transfer
As it enters the world of cryptocurrencies, one of the most basic concepts is how transactions are transferred to the Ethereum network. In this article, the technical details of Bitcoin transactions and blockchain transfer will be examined using programming terms and concepts.
Overview of bitcoin transactions
Bitcoin transaction is a single currency unit certified by nodes of Bitcoin network. It includes two parties: one sender and one buyer. The transaction process can be divided into several steps:
- Create a transaction : The sender initiates a transaction, giving the recipient’s address, the amount to be transferred and the additional metadata.
- Verification : Network nodes check the transaction with the help of complex mathematical algorithms (hash functions) to ensure its validity and to prevent double expenses.
- Block Creation : A block containing multiple transactions is created, which is then added to a “blockchain” (a public ledger).
- Consensus : The block is handed over to the network, where the nodes confirm the blockchain with their own specimens. This ensures that the transaction is checked and accepted by at least two parties.
- Network Distribution : All nodes in the network update a copy of the blockchain that contains the newly added block.
Ethereum Blockchain Technology
Ethereum is built on the top of a decentralized, open-source blockchain protocol called solidity. The Ethereum Virtual Machine (EVM) carries out intelligent contracts that, in themselves, implement the contracts with the terms of the agreement, directly in the code series. Smart contracts can be installed on the ETHEREUM network using the eth0 command line surface.
Transaction transfer process at Ethereumon
When a transaction is created on the Ethereum network, it is broadcast to the nodes for control and spread. The process includes several steps:
- Transaction Storage : The transaction is stored in a “transaction inventory” within the Ethereum network.
- Verification : The nodes check the transaction using their own copies of the blockchain. This ensures that the transaction is to be checked by several parties.
- Blockchain Update : If the check is successful, the nodes will update the blockchain copy with the newly added block and related transactions.
- Network Distribution : The updated blockchain is broadcast to all the connected nodes of the network.
Programming Conditions and Concepts
To illustrate the technical details of the transaction process of the Ethereum transaction, we break down some basic concepts:
* Blockchain : A public ledger that stores all transactions on the network.
* Chalcode : A self -determining contract that defines the rules of a given intelligent contract or application.
* Intelligent Contract : A separate program that automates a particular process, such as the implementation of a transaction or the upgrade of the blockchain.
Programming languages and tools
To cooperate with Ethereum Blockchain technology, developers use programming languages such as:
* Solidity : Official language of smart contracts on Ethereum network.
* Web3.js : An open source JavaScript directory that allows customer -side interactions with Ethereum network.
tools and frames
Developers use many tools and frames to build and install applications on Ethereum, including:
* truffle suite : Development tools for the construction, testing and installation of smart contracts on the Ethereum network.
* Ethers.js : Official JavaScript library that allows developers to interact with the Ethereum network programmed.