Exploration of the Ethereum network
Exploring the Ethereum network is quite simple, since there are websites and programs that allow us to access the public information of the blockchain in a very simple way. In addition, erc20 token creator these services also generate indicators with relevant data , which can be useful for users to make decisions.
Exploration of the Ethereum network
The public information of the Ethereum blockchain provides users with relevant data to make decisions. There are many things that can be known and learned by exploring the net, and to do so you do not need to register . Everything is in sight.
- Review the operations of your Ethereum wallet or any other.
- Know the volume of transactions for a particular day or period.
Know almost in real time the price of Ethereum , converted to pesos or dollars. - See each mined block and know which mining node it was the work of.
- Review the average commission for operations, almost in real time.
- Check the price of GAS (fee per transaction).
- Know which are the most used tokens .
Sending and receiving of ETH
All sending or receiving in Ethereum is done from a wallet or wallet . In addition, wallets that allow sending or receiving Ether are generally prepared to send and receive other tokens (ERC-20 and ERC-721, for example) created on the network.
Wallets are a type of software that allows you to create and manage addresses (which is all that is needed to operate) and manage private keys, in order to maintain control over our cryptocurrencies. But these wallets do not work like the ones you carry in your pocket, erc20 token generator despite sharing the name. ETH wallets (or any other cryptocurrency or token) do not store them on their service or anywhere else , but are computer programs that allow us to interact with our crypto funds.
Just like any other cryptocurrency, ETH does not exist in physical form. Cryptocurrencies are records in a blockchain , and the wallets only interact with each network to enable the transactions that we want to execute within it.
What is GAS
To trade, all you need is an address. In addition, transactions are paid in GAS , a unit of measurement used to price operations according to the amount of processing they consume .Ethereum is not only a cryptocurrency, but also a decentralized computer, and GAS is the way the system found to give processing priority to this or that transaction.
The miners charge the space of their blocks in GAS units, which are charged in ETH, and for this reason it is necessary to have the Ethereum cryptocurrency to transfer others that use its blockchain.
The cost of each unit of GAS is measured in gwei . One gwei is equal to 0.000000001 ETH. The cost of making a token transfer, at the end of this guide, was 25,000 GAS units.
A smart contract is a piece of code that is executed upon the fulfillment of pre-established conditions when it was written. And that, in exchange for an entry order, it will respond with a certain result.
We can think of the way soda vending machines work , which are automatic systems that respond with an input, such as inserting money, with an output, such as delivering a soft drink.
In the context of Ethereum, the term is actually a bit of a misnomer, given that Ethereum smart contracts are not “intelligent” but rather automatic ; and they are not legal contracts either . But the name stuck.
Smart contracts or intelligent contracts
Smart contracts are pieces of code that allow you to automate operations on the Ethereum blockchain.
So what is a smart contract?
According to renowned popularizer Andreas Antonopoulos, the term “smart contracts” is used to refer to “ immutable computer programs that run deterministically in the context of an Ethereum virtual machine as part of the network protocol.”
This allows the creation of countless applications that work automatically without the intervention of any person. create erc20 token Thanks to smart contracts, everything from new cryptocurrencies to collectible digital items can be created , all with their own rules.
Let’s dive a little deeper into each aspect of the definition.
- Computer Program — These are pieces of code, computer programs. The word “contract” has no legal meaning in this context.
- Immutable — Once implemented, the smart contract code cannot change. Unlike traditional software, the only way to modify them is by deploying a new instance. In this case, the current contract is not modified, but a new one is created with the changes that were wanted to be implemented.
- Deterministic — The result of the smart contract execution is the same for all those who execute it, given the context of the transaction that initiated its execution and the state of the Ethereum blockchain at the time of execution.
