Ethereum: How do transactions spread through Bitcoin network
The Bitcoin network is a decentralized system where transactions are distributed through a complex process containing multiple nodes and peer-to-peer communication. Ethereum’s smart contractual platform is essential for this process to rely on safe, transparent and effective transactions. In this article, we dive into the details of how transactions spread through the Ethereum network.
Overview of Bitcoin Network
Before exploring the features of Ethereum, it is essential to understand the basic architecture of the Bitcoin network. The Bitcoin network consists of a decentralized peer-to-peer system where the nodes communicate using the TCP/IP Network Protocol (Transmission Control Protocol/Internet Protocol). These nodes are basically computers that run special software and act as a mediator between users and the blockchain.
The gossip protocol
Simply put, the Gossip Protocol is a mechanism that is used to distribute transactions from one node to another. This process occurs when a node receives a transaction message from an official wallet or intelligent contract. The node then transmits this message to its counterparts, who also connect to the network. Each node can check the identity of the sender and ensure that the transaction is valid before transmitting to other nodes.
The gossip protocol includes several key steps:
- Transaction Control : The node checks the sender’s identity and ensures that the transaction is valid.
- Transaction Coding : The controlled transaction is then coded into a binary format containing metadata such as the sender’s address, the amount of the transaction and the gas price.
- Create a message : The coded transaction is sent to other nodes of the network with TCP/IP packages.
- Peer-to-Peer Communication : Each node receives the message from adjacent nodes and transmits it to your companions.
Ethereum Intelligent Contract Platform
Ethereum’s intelligent contractual platform allows you to create decentralized applications (Dapps) that interact without mediators. These intelligent contracts are stored on the Ethereum blockchain, which is a counterfeiting, unchanged ledger that records all the contract transactions and updates.
The spread process in Ethereum includes several steps:
- Intelligent Contract Installation : The developer installs an intelligent contract on the Ethereum network with the Solidity Programming Language.
- Initialization of the contract : The intelligent contract initializes its state and sets the necessary interactions with other contracts or external nodes.
- Event Notifications : If there is a change in the contract status, this will cause an event notification to all the junctions connected.
- Distribution of transaction
: Each node receives the event notification and transmits it to their peers using the Gossip Protocol.
Coding transactions How
In Ethereum, transactions are coded into binary format using a transaction descriptive (TD) data structure. TD consists of several fields that describe the metadata of the transaction:
- Transaction ID : Unique ID for the transaction.
- Gas Price : The amount of gas required to execute the transaction.
- gas limit : maximum number of gas units available for the transaction.
- Sender address : Transaction sender or contract address.
- Address of the recipient : The title of the wallet or contract that receives the transaction.
- Transaction amount : The value delegated or paid.
The coded TD is then used by the nodes to check the identity of the sender and to ensure that the transaction is valid before transmitting to other nodes.