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I just would like to check my understanding.

In the Bitcoin platform, the miner who does the following: - verify each unconfirmed transaction. - group them in a block - hash the block and find the nonce ( proof of work )

Now, in the Ethereum platform, who is minor ? does the node which calls a function in the smart contract can be called ( minor ) ??

If yes, what is the name of parties who call a smart contract function to follow the contract ??

Now I have coded a smart contract to set the prices between parties, each party has to call the function in the smart contract with goods amounts and the contract will calculate the settlement.

Each party has to pay gas to execute this call. Who will get these fees, EVM ( as a fees of call execution ) ???

and does the gas amount changes based on the amount of data in the call ( as a parameter ) or on the code complexity??

Thanks

1 Answer

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by (28.6k points)

Each implementation of Blockchain has its own consensus algorithm. The purpose of the consensus algorithms is to allow an update of the state of the transactions according to specific rules, where the rights to apply the rules are distributed among a certain number of nodes. The necessary number of nodes is determined by the set of users with the right to make decisions according to a consensus algorithm.

Ethereum

The consensus algorithm: Proof of stake
The minors of Bitcoin are the validators of Ethereum. Validators are randomly assigned the right to propose blocks.

Hyperledger:

The consensus algorithm: PBFT
The Peers will call the smart contract

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