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I've recently started with Solidity and like to know about the emit event as I wasn't sure of why it is being used in the program.

contract MyToken {

    string public name;
    string public symbol;
    uint8 public decimals;

    mapping (address => uint256) public balanceOf;

    event Transfer(address indexed from, address indexed to, uint256 value);

    /* Send coins */
    function transfer(address _to, uint256 _value) public {
        require(balanceOf[msg.sender] >= _value && balanceOf[_to] + _value >= balanceOf[_to]);
        balanceOf[msg.sender] -= _value;
        balanceOf[_to] += _value;
        emit Transfer(msg.sender, _to, _value);
    }   

   constructor(uint256 initialSupply, string memory tokenName, string memory tokenSymbol, uint8 decimalUnits) public {
        balanceOf[msg.sender] = initialSupply;              
        name = tokenName;                                   
        symbol = tokenSymbol;                               
        decimals = decimalUnits; 

    }

}

marked as duplicate by Ismael, Richard Horrocks, Jesse Busman, Achala Dissanayake, shane Dec 14 '18 at 3:32

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emit is used to emit any events. Events are the way to notify the transaction initiator about the actions performed by the called function. It stores its emitted parameters in a certain log history and they can accessed outside the contract with some filter parameters. As per the solidity documentation:

Events are inheritable members of contracts. When you call them, they cause the arguments to be stored in the transaction’s log - a special data structure in the blockchain. These logs are associated with the address of the contract, are incorporated into the blockchain, and stay there as long as a block is accessible.

For more: What is an Event?

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