Accounts are one of the main building blocks of the Ethereum blockchain. Ethereum, being a transaction driven state machine, the state is created or updated as a result of the interaction between accounts and transaction execution. Operations performed between and on the accounts, represent state transitions. The state transition is achieved using what's called the Ethereum state transition function, which works as follows:
- Confirm the transaction validity by checking the syntax, signature validity, and nonce.
- The transaction fee is calculated, and the sending address is resolved using the signature. Furthermore, sender's account balance is checked and subtracted accordingly, and nonce is incremented. An error is returned if the ...
