![]() ![]() In addition, many other token standards are either in production (e.g., ERC-721, ERC-1155) or in progress. Owing to the popularity of token standards such as ERC-20, Ethereum has seen hundreds of thousands of tokens issued on its network. An example of the implementation by Consensys is available here. Storage: a permanent component to store data.Įxample of popular smart contracts ERC-20 tokensĪn ERC-20 token is a token that implements a standardized interface defined in EIP-20.Memory: a component to store data temporarily.Program code ROM: an immutable program with the bytecode deployed for execution of the contract.Specifically, the EVM handles any smart contract logic, ranging from its deployment to the execution.īased on 256-bit word format, the EVM has a simple stack-based architecture with multiple data components: The Ethereum Virtual Machine (EVM) is the computer software (or computation engine) that interprets bytecode instructions for the Ethereum blockchain. Source: Binance Research, modified from the original work of Li, X., Jiang, P. Therefore, a send operation reduces one account’s balance and increases another account's balance. ![]() In an account-based model, a typical transaction (between accounts A and B) involving the transfer of ethers from one wallet to another works as follows:Įthereum maps all accounts into balances. Ethereum’s key features 2.1 Account-based model Its PoS transition was delayed several times, with subsequent forks to postpone the ignition of the difficulty bomb.Ģ.
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