Ethereum Advanced

Is Ether (in the form of Gas) basically just a “utility token” for smart contracts?

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I don’t know if I do understand your question:
Ether in form of gas is not an utility token, is GAS is the term used for the fee per action that you have to pay.
WEI is the term used for decimals on ethereum or Ether, like satoshis on bitcoin.

Here you can read more about it:

Hope you find this useful.
If you have any more questions, please let us know so we can help you! :slight_smile:

Carlos Z.

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Really interesting question. Have you looked more into this? I would really like to understand if this is possible in a certain scenario.

Veeery old question but I think it might be possible, you could program your SC to only listen/access certain functions from certain accounts (addresses)… Its really long to explain if you have not see the Ethereum Programming Courses, but once you did, you will start understanding that some things could be possible to achieve by programming them (the hard part, how the hell should be programmed :smiling_face_with_three_hearts:).

If you have any more questions, please let us know so we can help you! :slight_smile:

Carlos Z.

Why is multiple outputs in bitcoin more private than sending eth to another address you control? Don’t really see the big difference there…
Because you can split the amounts on bitcoin yo several outputs? Well you can send several separate transactions on ethereum in that case…

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The UTXO model makes it harder to track, there are still procedures to keep track of the funds provenance of a wallet (since the blockchain is public, there will always be a way to track any wallet funds). The Account Model is quite easy to track the provenance of a wallet/account, since you can track “from, to, quantity, hash, time” on the blockchain in a way more simple than UTXO.

Even the fact of sending funds back to yourself, means an output with a input, so you can send 1 BTC (1 input) divided for 8 persons, 0.1 BTC per person = 0.8 BTC for persons (8 outputs). The rest 0.2 BTC will be automatically sent to another address that you control from your private keys, so it counts has another output. Inputs must be spent completely, there is no way to spent like 80% of an input (0.8 BTC), this is why if you spend that 80% to persons, the 20% goes back to yourself in another address (create a new input with the rest of the funds 0.2 BTC).

From the human perspective, is quite hard to follow the track of 1 input with 9 outputs. This is when some kind of privacy comes from, since 1/9 output is yourself and 8/9 are the persons. How can you track from the outside which belongs to who?

The Account Model is quite easy to track the provenance of a wallet/account, since you can track “from, to, quantity, hash, time” on the blockchain in a way more simple than UTXO.

Hope this gives you a clear view of the subject, keep learning! :

If you have any doubt, please let us know so we can help you!

Carlos Z.

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Enjoying it so far, Thanks :slight_smile:

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Thanks mate! Yes its a little bit clearer now. But I guess I dont understand how the UTXO:s work in general. If i receive lets say 0.5 bitcoin in a transaction (somebody send me or I send from an exchange to my own wallet). According to the explanation, when I want to send it somewhere I need to send the whole 0.5 btc as outputs, as the input was 0.5 to my adress. I know I can send any amount I want, does this mean that if I receive 0.5BTC from person A and later send 0.1BTC to person B, that in the same transaction where I send 0.1BTC the resting 0.4(minus tx fee) is sent back to myself or to another adress that my wallet controls?

Still a bit confusing. Many thanks for the explanations!

i know eth is going from proof of work to proof of stake. can someone pls explain it to me. (if you think its funny that i should ask because it is in the course i didnt know. ok? (and im 11)) thx!

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Thank you for all the effort to put the academy and every single course from one the most important aspect of the blockchain I hope the academy continues with all excellent level thank you.

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Great course so far!

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Hello sir, explaining it would be rather long to be honest. So i suggest you read more about it from this resourse links if you really are interested to go deep into eth 2.0.

Hope you find this useful.
If you have any more questions, please let us know so we can help you! :slight_smile:

Carlos Z.

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Why is it that when the price of the ethereum go up, the cost of the “gas” will come down?

where is the place of copyright if all codes are open to every one?

I do not understand the question, sorry, when eth price goes up, should gas go down? i dont think so, gas is used for transactions fees, right now, ethereum is facing a congestion on the network, because of the DeFi and Yield Farming Hype, all of that can be traduced to: “more transactions are being requested than what the network can handle”, so, lets say you want to sent a transaction, you will pay the most higher fee in gas possible so your transaction is one of the first to be processed, if a lot of people do this, price of transaction in gas terms goes up, so even if ethereum price goes to 100$, if the network is still congested, means that gas price could remain high, in gas terms of what you need to pay for a transaction.

By copyright you mean how are you sure that “ethereum” is a unique product, when everyone could deploy the same code and launch “ethereum”…You are forgetting a very important point, THE BLOCKCHAIN, thats the copyright, why? because yes, the ethereum code is open to every one to take it and launch theyr own version of it, but why they can not be the same ethereum? because the blockchain was released before, it already exist, so any other developer that come and copy/paste the ethereum code and cannot use the name of Ethereum, because Ethereum already exist in a blockchain, longer than others. (Hard Fork)

If you have any more questions, please let us know so we can help you! :slight_smile:

Carlos Z.

thank you for your explanation
i am talking about smart contracts, they can be copied and used

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I thought I heard Ivan mentioned this “ethereum price up, gas price will go down” in the lecture, never mind, I might have heard wrongly. It does not make sense to me either.
Thanks for the reply.

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Ok, in that case you could copy an entire smart contract (if they are open source and code is accesible to anyone through github).

But you can not deploy it with the same token name for example, basically you create a copy, redesign it a little bit to your own rules and you are the owner of a copy lets say ‘Compound2’ for example.

If you have any more questions, please let us know so we can help you! :slight_smile:

Carlos Z.

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Thanks a lot. :smiley:

For now nothing to add, the quality of courses are really high! Thanks!!

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