dido:public:ra:xapend:n_gas
Differences
This shows you the differences between two versions of the page.
| Both sides previous revision Previous revision Next revision | Previous revision | ||
|
dido:public:ra:xapend:n_gas [2022/06/02 12:45] nick |
dido:public:ra:xapend:n_gas [2022/06/07 16:35] (current) nick |
||
|---|---|---|---|
| Line 12: | Line 12: | ||
| * There needs to be an assurance of data correctness | * There needs to be an assurance of data correctness | ||
| * The Data needs to be secure during Data-at-Rest, Data-in-Motion, and Data-in-Use | * The Data needs to be secure during Data-at-Rest, Data-in-Motion, and Data-in-Use | ||
| - | * **There is a cost to using the distributed resources** | + | * __<color darkblue>**There is a cost to using the distributed resources**</color>__ |
| - | Most of these can be achieved as part of a DIDO Platform such as Ethereum. In this section, the focus is on the last item, //"There is a cost to using the distributed resources//. This requires a method for remuneration for all the work required to make the DIDO function. In Ethereum and in many other DIDO Platforms, this is achieved using the concept of Gas. | + | Most of these can be achieved as part of a DIDO Platform such as Ethereum. In this section, the focus is on the last item, __<color darkblue>//**"There is a cost to using the distributed resources**//</color>__. This requires a method for remuneration for all the work required to make the DIDO function. In Ethereum and in many other DIDO Platforms, this is achieved using the concept of Gas. |
| The purpose of gas is to provide a "value layer" providing a way to recapture the computational costs of running and maintaining the DIDO Platform and its Node Network (i.e., Ethereum Platform and Ethereum Network). Unfortunately, the analogy used to describe how such a system would work was also used as the name of the value only adding to the confusion and leading to ambiguity. | The purpose of gas is to provide a "value layer" providing a way to recapture the computational costs of running and maintaining the DIDO Platform and its Node Network (i.e., Ethereum Platform and Ethereum Network). Unfortunately, the analogy used to describe how such a system would work was also used as the name of the value only adding to the confusion and leading to ambiguity. | ||
| Line 30: | Line 30: | ||
| Although the car analogy is useful in explaining how simplistically the "value layer" operates, using the exact same terminology leads to inconsistencies and constraints in moving forward. | Although the car analogy is useful in explaining how simplistically the "value layer" operates, using the exact same terminology leads to inconsistencies and constraints in moving forward. | ||
| - | Regardless of how we got here, or how it could have been done differently, we are where we are and for better or worse, for now, we must use the terms given to us by Ethereum. Hopefully, future "value layer" propositions won't make the same mistake. | + | Regardless of how we got here, or how it could have been done differently, we are where we are and for better or worse, for now, we must use the terms given to us by Ethereum. Hopefully, future "value layer" propositions won't repeat the same nomenclature and taxonomy. |
| + | |||
| + | ^ Term ^ Definition ^ | ||
| + | ^ Gas | | | ||
| + | ^ Gas Limit | | | ||
| - | that solely indicates the consumption toward computational expenses on the Ethereum network. Having a separate unit for this purpose allows for a practical distinction between the actual valuation of the cryptocurrency (ETH), and the computational cost of using Ethereum's virtual machine (EVM). Here, gas refers to Ethereum network transaction fees, not the gasoline for your car. | ||
| <color Red> | <color Red> | ||
| + | that solely indicates the consumption toward computational expenses on the Ethereum network. Having a separate unit for this purpose allows for a practical distinction between the actual valuation of the cryptocurrency (ETH), and the computational cost of using Ethereum's virtual machine (EVM). Here, gas refers to Ethereum network transaction fees, not the gasoline for your car. | ||
| + | |||
| Gas fees are payments made by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain. "Gas limit" refers to the maximum amount of gas (or energy) that you're willing to spend on a particular transaction. A higher gas limit means that you must do more work to execute a transaction using ETH or a smart contract. | Gas fees are payments made by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain. "Gas limit" refers to the maximum amount of gas (or energy) that you're willing to spend on a particular transaction. A higher gas limit means that you must do more work to execute a transaction using ETH or a smart contract. | ||
dido/public/ra/xapend/n_gas.1654188329.txt.gz · Last modified: 2022/06/02 12:45 by nick
