Ethereum: Fund’s certification process
In the Ethereum network, it is necessary to ensure that the events are valid and that the sender of the event has sufficient funds to pay for it. This process contains several checks and balances to prevent harmful actors from manipulating the system.
MEMPOOL
Mempool is a critical part of the Ethereum network, which is responsible for recording events waiting in the mine. Every time the event goes to Mempool, it creates a “block” in the system, allowing other mining workers to check and validate the event.
Mining worker’s certification process
When a miner wants to create a new block, they must first apply for the latest Mempool information from Ethereum Mainnet. This includes a list of pending events, related addresses, and the available funds for each address.
The miner carries two checks to ensure that the sender has enough funds:
- Funds’ availability review : The minister ensures that the sender has enough ether (ETH) in his wallet to pay for the event.
2
Intelligent Agreement Validation
If funds are available, the miner will proceed to validate the event with smart contracts. These contracts check the following:
- Transaction Identity : Agreements ensures that the event corresponds to its planned recipient and has the correct address.
2
block production
Once the miner has stated all the events, they create a new block into the mempool by combining validated events into one block. This block is then sent to other network mining workers who can use this information to review and validate the following events.
In summary, the Ethereum Fund’s verification process includes several inspections and balance to ensure that the events are valid and that the sender has sufficient funds to pay them. Mempool has a critical role to play in the storing and ensure their qualifications, while intelligent contractual design ensures the integrity of these events.
