What is the Transaction nonce?

 What is the Transaction nonce?

What is the Transaction nonce?

nonce:

A scalar value adequate to the amount of transactions sent from this address or, within the case of the accounts with associated code, the amount of contact-creations made by this account.

For EOA

This number represents the amount of confirm transactions sent from the account’s address.

For contract Address:

The nonce is that the number of contracts created by the account.

It’s important to notice that the utilization of nonce is really vital for an account-base protocol, in contrast to the “unspent transaction output” (UTXO) mechanism of the Bitcoin protocol.

What does it matter?

This value prevents double-spending, because the nonce will always specify the order of transactions.If a double-spend does occur, it’s typically thanks to the subsequent process.

A transaction is shipped to at least one party.
They await it to register.
Something is collected from this first transaction.
Another transaction is quickly sent with a high gas price.
The second transaction is mined first,therefore invalidating the primary transaction.

In Ethereum, this method of “double spending” isn’t possible because each transaction features a nonce included with it. albeit you plan to do the above,It will not work because the second transaction(nonce of 3) can’t be mined before the primary transaction(nonce of 2). 

 

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