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> In particular, I'd like to understand whether mining fees are paid for executing contracts or for solving hashes or for both I believe the answer is both. M

by j15t 11y ago

> In particular, I'd like to understand whether mining fees are paid for executing contracts or for solving hashes or for both I believe the answer is both. Miners get a rewarded for finding a valid block of 5 ETH (typical PoW style reward) and they also receive the transactions fees paid by users of the network. And in Ethereum the cost of a transaction is determined by its 'gas' cost, which is based on how computationally expensive the transaction is.

narrator 11y ago
What's to keep a node from lying about how much an operation costs?
- j15t 11y ago
  Each operation in the Ethereum Virtual Machine (EVM) has a cost defined by the protocol. Miners verify that each transaction has paid the necessary amount and any transaction that pays too little will not be included in a block.
tom_mellior 11y ago
> And in Ethereum the cost of a transaction is determined by its 'gas' cost, which is based on how computationally expensive the transaction is. Right, but the gas cost cannot be distributed over _all_ nodes, I would think. Which is why I was wondering if it all goes to the node that is the first to announce that it has done a certain computation. Which leads me to wondering how "the first" is determined. I'll keep looking around for more info, but I do hope Ethereum people realize that YouTube videos are not the same thing as proper documentation...
- j15t 11y ago
  > Right, but the gas cost cannot be distributed over _all_ nodes All computation on the Ethereum blockchain is done through the Ethereum Virtual Machine (EVM). The protocol defines a gas cost for each opcode in the EVM, hence the gas cost is distributed across all nodes. Any singular node can change the gas cost in their client, but if they pay less than the cost that the miners expect then their transactions will not be processed - as it typical with distributed consensus systems. > I'll keep looking around for more info, but I do hope Ethereum people realize that YouTube videos are not the same thing as proper documentation There is a lot of documentation on their Github page. I would recommend starting with the white paper, then check the wiki and if you are still not convinced (and also brave) check the yellow paper: -https://github.com/ethereum/wiki/wiki/White-Paper https://github.com/ethereum/wiki/wiki/White-Paper -https://github.com/ethereum/wiki/wiki/Design-Rationale https://github.com/ethereum/wiki/wiki/Design-Rationale -https://github.com/ethereum/wiki/wiki/FAQ https://github.com/ethereum/wiki/wiki/FAQ -http://gavwood.com/Paper.pdf http://gavwood.com/Paper.pdf
  - tom_mellior 11y ago
    > The protocol defines a gas cost for each opcode in the EVM, hence the gas cost is distributed across all nodes. What I meant was this: Not every node that executes a contract can be paid for the gas. Some one node (or maybe a few) must "win" and get the gas cost. I was wondering which one it was. Based on the White Paper (thanks for the link!) my rough understanding is now as follows: If a node executes a transaction and is the first to include that transaction in a block, then this node gets the transaction's gas cost plus a mining reward. Is this correct? Essentially, it would be like Bitcoin's transaction fees + block reward.

by j15t 11y ago

narrator 11y ago

What's to keep a node from lying about how much an operation costs?

j15t 11y ago
Each operation in the Ethereum Virtual Machine (EVM) has a cost defined by the protocol. Miners verify that each transaction has paid the necessary amount and any transaction that pays too little will not be included in a block.

tom_mellior 11y ago

> And in Ethereum the cost of a transaction is determined by its 'gas' cost, which is based on how computationally expensive the transaction is. Right, but the gas cost cannot be distributed over _all_ nodes, I would think. Which is why I was wondering if it all goes to the node that is the first to announce that it has done a certain computation. Which leads me to wondering how "the first" is determined. I'll keep looking around for more info, but I do hope Ethereum people realize that YouTube videos are not the same thing as proper documentation...

j15t 11y ago
> Right, but the gas cost cannot be distributed over _all_ nodes All computation on the Ethereum blockchain is done through the Ethereum Virtual Machine (EVM). The protocol defines a gas cost for each opcode in the EVM, hence the gas cost is distributed across all nodes. Any singular node can change the gas cost in their client, but if they pay less than the cost that the miners expect then their transactions will not be processed - as it typical with distributed consensus systems. > I'll keep looking around for more info, but I do hope Ethereum people realize that YouTube videos are not the same thing as proper documentation There is a lot of documentation on their Github page. I would recommend starting with the white paper, then check the wiki and if you are still not convinced (and also brave) check the yellow paper: -https://github.com/ethereum/wiki/wiki/White-Paper https://github.com/ethereum/wiki/wiki/White-Paper -https://github.com/ethereum/wiki/wiki/Design-Rationale https://github.com/ethereum/wiki/wiki/Design-Rationale -https://github.com/ethereum/wiki/wiki/FAQ https://github.com/ethereum/wiki/wiki/FAQ -http://gavwood.com/Paper.pdf http://gavwood.com/Paper.pdf
- tom_mellior 11y ago
  > The protocol defines a gas cost for each opcode in the EVM, hence the gas cost is distributed across all nodes. What I meant was this: Not every node that executes a contract can be paid for the gas. Some one node (or maybe a few) must "win" and get the gas cost. I was wondering which one it was. Based on the White Paper (thanks for the link!) my rough understanding is now as follows: If a node executes a transaction and is the first to include that transaction in a block, then this node gets the transaction's gas cost plus a mining reward. Is this correct? Essentially, it would be like Bitcoin's transaction fees + block reward.