February 2019
Intermediate to advanced
450 pages
9h 59m
English
Content preview from Hands-On Blockchain for Python Developers
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Gas and gas price
As you will know, Ethereum blockchain is not free; someone has to maintain it. I am not talking about developers who write Ethereum software, but miners who run Ethereum nodes to confirm transactions. They are rewarded with money (ETH) from Ethereum software itself. On top of that, they are rewarded with the fee of the transaction. This fee is the gas and gas price.
Why do we need a fee on top of a reward in Ethereum software? This is to prevent spam from users. If a transaction is free, a troller could set up two accounts, sending the money back and forth between them. In addition, this gives high priority to users who want to pay more. If there are two similar transactions, but the first transaction is backed with more ...