Blockchain tokens existed before Ethereum. In some ways, the blockchain currency, Bitcoin, may be a token itself. There are many token platforms that were also developed on Bitcoin and other cryptocurrencies before Ethereum. The introduction of the first token standard on Ethereum led to an explosion of tokens. Tokens standards (ERC20) The first standard was launched […]
Ethereum Fungible And Non Fungible Tokens
Description The Fungibility in economics described that is that the property of an honest or a commodity whose individual units are essentially interchangeable.” Tokens are fungible once we can substitute any single unit 0 the token for an additional with no difference in its value or function. Fungibility is that the property of goods or a […]
What are Ethereum Tokens?
Currency tokens Currency tokens released by a company sometimes ceased to be mere “trade” tokens when they were sanctioned by a local government authority: perhaps due to a severe shortage of money to issue its own coinage. Actually, the organization behind the tokens became the regional bank. The best example of this is the Strachan […]
What are Ethereum smart contracts?
What is a Smart Contract? computer virus Immutable Deterministic EVM context Decentralized World Computer Nick Szabo was a Cryptographer who coined the phrase in 1991 and defined it as “a set of promises, specified in digital form, including protocols within which the parties perform on the opposite promises”. Ethereum smart contracts Ethereum’s smart contracts are […]
What is Ethereum Transaction Gas, Price and Limit?
Steps for Transaction Confirmation Transaction shows and unconfirmed. Transaction waiting to incorporate during a block and added to the blockchain. In traditional terms, it’s referred to as clearing. Once the transaction is confirmed we’ll get our bitcoin. Common Transaction Forms The foremost common sort of transaction may be a simple payment from one address to […]
What is the Transaction nonce?
What is a nonce? A scalar value adequate to the number of transactions sent from this address or, within the case of the accounts with associated code, the number of contact creations made by this account. For EOA This number represents the number of confirmed transactions sent from the account’s address. For contract Address: The […]
Wallet Technology Overview
Introduction Ethereum wallet may be a key chain containing pairs of personal and public keys, Ethereum wallet doesn’t contain ether or tokens. From these keys, they control the ether or tokens. Users sign transactions with the private keys, thereby proving they own the ether. The ether is stored on the blockchain. Importance of a Digital Wallet […]