What are the components of a transaction in Ethereum?

2 answers

• Feb 17, 2022 · 3 years ago
  When it comes to Ethereum transactions, there are a few key components that you should be aware of. First, there's the sender's address, which identifies the account that initiates the transaction. Then, there's the recipient's address, which specifies the account that will receive the transaction. Next, there's the amount of Ether being sent in the transaction. This is the value that is transferred from the sender to the recipient. Additionally, there's the gas price, which determines the fee the sender is willing to pay for the transaction to be included in a block. The gas limit is another component that specifies the maximum amount of gas that can be used for executing the transaction. Finally, there's the data field, which can contain additional information or smart contract function calls. These components work together to ensure secure and efficient transactions on the Ethereum network.
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• Feb 17, 2022 · 3 years ago
  In Ethereum, a transaction is composed of several components. First, there is the sender's address, which identifies the account that initiates the transaction. Then, there is the recipient's address, which specifies the account that will receive the transaction. Next, there is the amount of Ether being sent in the transaction. This is the value that is transferred from the sender to the recipient. Additionally, there is the gas price, which determines the fee the sender is willing to pay for the transaction to be included in a block. The gas limit is another component that specifies the maximum amount of gas that can be used for executing the transaction. Finally, there is the data field, which can contain additional information or smart contract function calls. These components work together to enable secure and efficient transactions on the Ethereum network.
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