308

"Gas" is the name for a special unit used in Ethereum. It measures how much "work" an action or set of actions takes to perform: for example, to calculate one Keccak256 cryptographic hash it will take 30 gas each time a hash is calculated, plus a cost of 6 more gas for every 256 bits of data being hashed. Every operation that can be performed by a ...


49

Short: Gas is the execution fee for every operation made on ethereum. Its price is expressed in ether and it's decided by the miners, which can refuse to process transaction with less than a certain gas price. To get gas you simply need to add ether to your account. Long: Ethereum implements on the blockchain an execution environment called the Ethereum ...


45

The following response is taken from Ethereum, Gas, Fuel & Fees What is Gas? Gas is the metering unit for use of the Ethereum "World Computer". As an analogy, electricity is metered by kilowatt hours. Using more computation and storage in Ethereum means that more gas is used. One fundamental reason for metering is that it provides an incentive for ...


26

Poloniex has a pretty complete dataset available. Raw data as JSON here. Edit the timestamps in the API to get a different snapshot. Edit the period to adjust the details.


17

The testnet can be reset any time by the Ethereum developers by issuing a new default genesis block. New testnet nodes would run automatically the new testnet. Therefore people do not build any business on it. Also miners prefer mainnet because of the potential reset, therefore testnet will always be insecure.


13

Etherchain and Etherscan currently both allow you to download raw data for any of their charts.


12

I suspect that the question about the price discovery mechanism of gas/Ether was not studied very deeply by the Ethereum developers. The mechanism that currently exists must work by miners adaptively changing the lower bound of Ether per gas (asking price), and creators of transactions - offering certain prices and watching if the transactions get mined. ...


12

Additional useful content on gas in Ethreum from: http://ethdocs.org/en/latest/ether.html#gas-and-ether Gas and ether Gas is supposed to be the constant cost of network resources/utilisation. You want the real cost of sending a transaction to always be the same, so you can’t really expect Gas to be issued, currencies in general are volatile. So instead, ...


11

Through the coin: the miners are rewarded for their work on both confirming blocks and validating transactions, both of them being different. each person asking for a transaction is paying for it; note that if the Dapp developper wants to make it free for his user, he can do it, but then he has to pay for those transactions. this coins allows value transfer ...


10

There are multiple questions in this, I'll try to address all your concerns... The cpu-power needed to run the smart contracts should in most cases be tiny compared to the cpu-power needed to generate a new block hash. Thats what the miner gets "paid" for, finding a new block hash, not executing the smart contracts. Yes, all operations and all data will be ...


10

Testnet ETH is practically infinite. The Morden genesis block allocates one address, 1.6e42 Ether. Some Ethereum developers know the private key to this and its primary use is for faucets. Here's the account and balance: accounts": { "102e61f5d8f9bc71d0ad4a084df4e65e05ce0e1c": { "balance": "1606938044258990275541962092341162602522202993782792835301376", "...


9

I understand where you're coming from, it's a popular situation, but fortunately you have several options. Firstly: Protect your work If your serious about it, then the very first step you should do is to copyright it. When people think of copyrighting they often think of some all-controlling mechanism that you buy to lock down your app so no one can touch ...


8

Gas is basically the internal pricing for running a transaction or a contract. The gas price per transaction or contract is set up to deal with the Turing Complete nature of Ethereum and its EVM (Ethereum Virtual Machine Code) So, the more complex the transaction or the operation, the more gas it would cost.


8

There are several different ways to answer this question. For example, you could try to measure the percentage of the network that must misbehave in a malicious or "byzantine" manner before agreement among the "real users" breaks down. This type of approach, called fault tolerance analysis, is well-studied in computer science, and some important ...


7

There could be several possible ways: For Serenity version, there are plans to allow contracts themselves to pay for transactions, if, let's say, the owners of the contract monetise it indirectly. Something approximate can already be implemented now - contract can refund the caller because it knows the callers address (this, however, still requires some ...


5

This question might be a bit off-topic and likely to result in unproductive debate, but maybe it's worth providing a couple references anyway. CAPM can't tell you the value of an equity. It tells you what rate of return investors will demand for a given amount of volatility; if you hold a risky asset, you can expect a higher rate of return over time, as ...


5

I think this question is out of scope for this stackexchange and voted to close it, but since it's still open... (note that the first several sections are greatly-simplified world-views and thus opinions; the last section is very subjective). N.B. that I do not possess a finance background and that for answering your question about intrinsic value, I'm using ...


4

Technical limitations There are a few things that act together to prevent all ethers from being tied up in staking, or at least make it economically unattractive. The source for the info comes from here and here. However, I am adding my own interpretation and drawing additional inferences. There is a minimum amount of ether required to stake (1250 ether), ...


4

Hate to be so blunt but I think you're very wrong. The RoI on on PoS is actually quite low, especially once mining rewards are eliminated. There will be so many people who want to stake but so little new ether to distribute (due to disinflation) that it will only be at best a modest source of income. The lion's share of the wealth will still go to people who ...


4

Use the same formal analysis techniques that have been used in the literature for 25+ years. A good starting point for the conceptual basis of these systems is Paxos. Then, I would look at Raft, since its implementation is significantly easier to understand. Also it's vitally important that people researching in this space look at this paper, it seems to be ...


4

Assuming that the premise is valid (which I don't believe it is), the main reason why the extended conclusion is wrong is that this is a slippery slope fallacy: https://yourlogicalfallacyis.com/slippery-slope Specifically, the author states: Ethereum allows anyone to make a smart contract about anything. In other words, it has no ability to move ...


4

I can't see a question in your post, so it'll likely be closed as off-topic. Reddit would be a better place to invite discussion, which isn't what Stack Exchange is for. I'll respond to several of your points in the meantime, trying to remain as objective as possible. Yet, on the Ethereum wikipedia page https://en.wikipedia.org/wiki/Ethereum, it says that ...


4

So a lot of these companies are separating the ERC 20 token being sold during the ICO process and their actually technology. Think of the ERC 20 token as contract to be exchange for the true currency when it is later developed. Let me respond to the specific examples you have given: EOS. The following is from an article on Bitfinex supporting the token ...


3

I'm not convinced that the premise is sound. Data provided by any "oracle" vulnerable to that sort of parasite attack would just as easily be accessible to potential customers using the same methods. The point being that it is not an architecture that could be used for a commercial oracle in the first place. Just because data is publicly accessible does not ...


3

The key question isn't how many assets are tracked on the Ethereum blockchain. The key question is "what does an attacker have to gain by an attack?" In theory, the addition of more valuable assets to the chain will increase the demand for ether and raise its market valuation. Hopefully the owners of these assets will also purchase and hold some ether in ...


3

Slashed funds are not "destroyed" but they disappear from the map, you can review the CasperFFG code to see what happens there: https://github.com/ethereum/casper/tree/master/casper/contracts There is a proposal that we are very seriously considering, where a validator only loses their entire deposit if they are faulty around the same time that many ...


3

You are correct that the contract caller pays only once. You are also correct in that the community costs, in theory, is unbounded. In practice, however, the cost is bounded. One way that the cost can be bounded is if not everyone runs all contract code. What matters for fiat currency is the collective decision about what is truth. For example, suppose ...


2

Expose your Ethereum functionality via server code, such as a web service. Your server will act as a proxy between an Ethereum node (probably running on the same machine) and the browser. Gas costs are then handled by the server, and the user does not even need to know that they are running an Ethereum Dapp.


2

It is not synonym for PoW or PoS. public economic consensus via proof of work The semantics of the word via are not an equality operator, but a cause effect relationship. Public economic consensus is possible because of PoW or PoS. public The ethereum blockchain is out in the public and anyone can introspect the state of the blockchain in history ...


2

I think there are some mistakes. The first is when you call "inflation rate" the increase rate of monetary mass, but it is a mistake you share with a lot of people among the cryptocurrency community. Inflation rate is an increase in prices. The difference is that while bitcoin and ether have a positive and high increase rate of monetary mass, they have had ...


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