Another day of blockchain learning.
Today I finally understood what gas actually means.
Gas isn't the fee itself.
It's a unit used to measure the computational work required to process a transaction.
Here's what I learned:
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One final thing I learned:
Ethereum's fee mechanism isn't simply "the validator gets the whole fee."
The base fee is burned, while the priority fee (tip) goes to the validator.
Still learning
Another important thing:
The token you're sending isn't necessarily the token you use to pay gas.
For example, you can send USDC on Ethereum.
You're sending USDC...
But you still need ETH to pay the Ethereum transaction fee.
Token transferred ≠ Currency used to pay gas
My biggest takeaway:
The EVM is essentially Ethereum's shared, deterministic computation engine.
It allows smart contracts to execute according to common rules so independent nodes can process the same transactions and arrive at the same blockchain state.
Still learning. 🚀
Another day of learning blockchain from @CyfrinUpdraft
I kept hearing about the EVM while learning Ethereum.
Today I finally learned what it actually is.
EVM = Ethereum Virtual Machine
In simple terms, it's the computation engine that executes smart contracts on Ethereum.
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Another interesting thing:
Ethereum isn't the only ecosystem using EVM technology.
Other Layer 2s and blockchains can use EVM technology, making it possible to use Ethereum-oriented smart contracts and tooling on other networks. But EVM-compatible doesn't always mean identical.
This also leads to the idea of hybrid smart contracts:
On-chain logic + Off-chain data/computation
For example:
Flood occurs → Weather data → Oracle → Smart contract → Automatic payout.
Still going.
Blockchains can verify information on-chain.
But what happens when a smart contract needs information from the real world?
Today I learned about the Blockchain Oracle Problem — one of the limitations of blockchains that I hadn't really thought about before.
This is where Decentralized Oracle Networks (DONs) come in.
Instead of trusting one oracle:
Multiple oracle nodes retrieve the data → compare it → reach consensus → send the agreed value on-chain.
This makes the system more resistant to manipulation and failure.