Will the Guru

Category: Blockchain

  • Ethereum Transaction Nonce

    Nonce: A scalar value equal to the number of transactions sent from this address or, in the case of accounts with associated code, the number of contract-creations made by this account. https://github.com/ethereumbook/ethereumbook/blob/develop/06transactions.asciidoc Nonce is an attribute of the originating address and it is dynamically calculated according to the transactions made…

  • What is a Ethereum transaction?

    Transactions are signed messages originated by an externally owned account (EOA), transmitted by the Ethereum network, and recorded on the Ethereum blockchain. https://github.com/ethereumbook/ethereumbook/blob/develop/06transactions.asciidoc In short, transaction contains the information of the data that’ll be saved on the blockchain. The data can be the history of either asset transfer or any…

  • What is Snapshot?

    In cryptocurrency, snapshot is an activity to capture the state of a blockchain at a specific moment, on a particular block. Snapshot records the content of the entire blockchain, that includes the transaction data, balance data, and so on. Use cases of snapshot Airdrop There are circumstances some of the…

  • What are Smart Contracts?

    Smart contracts digitize agreements by turning the terms of an agreement into computer code that automatically executes when the contract terms are met. https://ethereum.org/en/smart-contracts/ Smart contracts are computer programs stored on blockchain that gets executed when specific conditions are satisfied. Using the smart contracts, agreements are opened to the public…

  • What is IPFS?

    TL;DR – IPFS is a InterPlanetary FileSystem which stores the data on a decentralized network. It uses a “Content Based Addressing” mechanism to make it efficient for searching data. Background Current Web 2.0 services are mostly depending on a single server provider to store their data. For example, to build…