Understanding the balances of the Ethereum wallet: Step by step guide
Ethereum, like other blockchain platforms, uses a digital wallet system to store and manage a cryptocurrency such as Ether (ETH). Wallet’s balance is the total value of coins or tokens in your account. In this article, we will discuss how the balance of the wallet is calculated on Ethereum.
Key components
To calculate your wallet balance, you need to understand what key components are involved:
1.
- Wallet : Digital wallet is a software program or application that stores and manages cryptomena assets.
- KEYYRS : Keyféry are pairs of secret and public keys used to interact with blockchain.
Wallet Calculation
Here is a detailed explanation of how the wallet balance is calculated on Ethereum:
1 This header contains information about the current chain status, including the heights of the blocks, the number of transactions and other relevant data.
- Transaction History : You must also consult your wallet history to identify all transactions regarding your account. This includes:
* Transactional income
* Transaction metadata (eg sender, recipient, amount)
- Keyboard information : You also need access to keyboard information including:
* Public key (used to sign and verify transactions)
* Private key (used to decipher the transaction data)
- Summary of transactions : When you have all the relevant information, you can summarize the transactions into one value.
Mathematics behind her
Now that you have the necessary components, let’s see how they are used to calculate your wallet balance:
- Add transactions : You count all quantities of transactions:
* Transaction income (eg gas fees, transaction costs)
* Transaction metadata (eg sender, recipient, amount)
- Calculation of the total value : The total value is calculated by a summary of the transactions, taking into account any transaction -related fees.
Example
Let’s say you have an Ethereum wallet with a balance of 100 ETH and you want to calculate your balance after receiving 20 new ETH as payments for completing the intelligent commitment of the contract. This would work this way:
- Load the latest blockchain header
- Consult a transaction history and identify all transactions regarding your account
- Summarize the transactions:
* Add quantities of transactions (eg 20 ETH + any fees)
- Calculate the total value: $ 120
Conclusion
Calculating your wallet balance on Ethereum involves loading relevant data from blockchain, transaction history and key information. According to these steps, you can accurately determine your current balance. Be sure to regularly update your keys and transaction history to ensure accurate calculations.
