How is “gas” used in Ethereum, Ethereum Classic, and other smart contract platforms? What does “Turing complete” mean? As a smart contract developer, how do I estimate how much the execution of my program will cost in gas?
These questions are from MOOC 9.7 session, which took place on March 30th 2018. Andreas is a teaching fellow with the University of Nicosia. The first course in their Master of Science in Digital Currency degree, DFIN-511: Introduction to Digital Currencies, is offered for free as an open enrollment MOOC course to anyone interested in learning about the fundamental principles.
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Excellent explanations Andreas. Diving down Ethereum is fascinating
I think Andreas makes a slight imprecision here. It is indeed impossible to write an algorithm that predicts if an arbitrary contract will halt if the language used is Turing-complete. That is why the Ethereum protocol cannot automate this procedure, and gas must be used. However, given a specific contract, you, the user, can just look at the code and determine what will happen in different scenarios (or determine that it is too complicated to predict and not use it).
Your brain is worcking ,,ise kala?
what are the things that can improved in cryptocurrency
What do you think of Wings ?
To me this makes coins that use "gas" unworkable. I know of one ETH contract that can't run anymore because it can't be given enough gas to run completely. How can this problem be solved?
Also, what happens to any unused gas? Does it just stay in the paying address? Can it be sent to a new address (because once an address gets used its public key is now published, so all funds in the paying address should be sent to a new unused address).
I need an analogy… say you program is a car, and to execute your code might take an uncertain amount of computing power. so its like needing to drive your car to an unknown location. so you don't know how much gas you need?… why don't you know the location? maybe… you don't know how many people will be using your code?
Should talk about why Turing complete makes eth not a great system in terms of security.
if(andreas) likes++;
Gas creates economic friction between users. For a smart contract platform, this friction will slow/halt adoption. Either gas needs to be minimized to less than a 1/100th of a one USD cent — or ETH will die at the hands of EOS.
Brilliant, thank you Andreas. If anyone has seen a Q&A from him regarding pros / cons / security of PoS vs. PoW, can you please post? If not, Andreas, can you please consider doing such a video? Thank you
Super interesting, learned a ton, thank you so much, Andreas!
Love this show, Andreas! Any movement to post it as a podcast, too? Can’t multitask with Youtube on my phone.
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Greetings from Kenya Africa
Smashed the like….:-D