Blockchain Academy
We'll get together for networking with people interested in Blockchain including developers and anyone curious about Blockchain.

Transaction

The term transaction in Ethereum refers to a package of signed data that contains a message sent by an external owned account (EOA) to another account. There is a difference from Message in that only EOA can trigger a transaction. An EOA can create a contract and invoke a message by issuing a transaction. A validated transaction causes a change in state, and the transaction in Ethereum contains the following values:

  • Address of message recipient (to)
  • A signature that identifies the sender (signature)
  • The amount of Ether that the sender sends to the recipient (value)
  • Optional data fields (data)
  • STARTGAS value (gasLimit)
  • GASPRICE value (gasPrice)

The STARTGAS and GASPRICE play a very important role in Ethereum's anti-DOS model. Ethereum written in Turing-completeness language can handle both accidental and malicious infinite loop processing in smart contract code in Ethereum. To prevent this, it inserts a concept like GAS price each time as each transaction is executed, GAS price are designed to be paid so that any malicious attack will consume the appropriate resources to pay GAS price proportional to that resource.