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Ethereum: how transactions spread through the Bitcoin network
The Bitcoin network is a decentralized system in which transactions are propagated through a complex process that involves more peer-to-peer communication and communication. At the base, the Ethereum intelligent contract platform is highly based on this process to allow safe, transparent and efficient transactions. In this article, we will immerse ourselves in details of how transactions spread through the Ethereum network.
Overview of the bitcoin network
Before exploring the details 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 in which the nodes communicate with each other using a network protocol called TCP/IP (transmission control protocol/Internet protocol). These nodes are essentially computers that perform specialized software and act as intermediaries between users and blockchain.
The gossip protocol
In simple terms, the gossip protocol is a mechanism used to spread transactions from one node to another. This process occurs when a knot receives a transaction message from an authorized portfolio or an intelligent contract. The knot then forwards this message to its peers, which are also connected to the network. Each node can verify the sender’s identity and ensure that the transaction is valid before forwarding it to other nodes.
The gossip protocol includes several key steps:
- Check of transactions
: a node verifies the sender’s identity and guarantees that the transaction is valid.
- Coding of transactions : the verified transaction is then coded in a binary format, which includes metadata as the sender’s address, the transactions and the price of the gas.
- Creation of messages : the coded transaction is sent to other nodes in the network using TCP/IP packages.
- Peer-to-peer communication: each node receives the message from the nearby nodes and forwards it to its peers.
The Ethereum intelligent contract platform
The Ethereum intelligent contract platform allows the creation of decentralized applications (APPS) that interact with each other without the need for intermediaries. These intelligent contracts are stored on the Ethereum blockchain, which is a tamper -proof immutable master book that records all transactions and updates to the contract.
The process of propagation in Ethereum provides for multiple steps:
- Distribution of the intelligent contract : a developer distributes an intelligent contract on the Ethereum network using the programming language of solidity.
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- Transactions propagation : Each node receives the notification of the event and forwards it to its colleagues using the gossip protocol.
How transactions are coded
In Ethereum, transactions are coded in a binary format using a data structure called transactions descriptor (TD). The TD is made up of several fields that describe the metadata of the transaction:
- Transaction ID : A unique identifier for the transaction.
- Gas price : the amount of gas required to perform the transaction.
- Gas limit : the maximum number of gas units available for the transaction.
- address of the sender : the portfolio or address of the contract that sent the transaction.
- address of the recipient : the portfolio or address of the contract that will receive the transaction.
- Amount of the transaction
: the value that is transferred or paid.
The coded TD is then used by the nodes to verify the sender’s identity and make sure that the transaction is valid before forwarding it to other nodes.
