understanding the life cycle of Metask transactions: a step -by -step guide
Metask is a popular web wallet platform and decentralized app (DAPP) that allows users to interact with various ETHereum compatible applications, without worrying about transaction verification complexities. However, when sending funds from one address to another using Metask, several transactions appear behind the scenes, which can be overwhelming for new users. In this article, we will break down the life cycle of Metask transactions and explain what happens at every step.
Step 1: Creating transactions
When clicking on “Send” to the Metask Wallet, a new transaction is created to send funds from address to address B. Here is what happens:
- The transaction is initiated by your Metask application, which sends a request to the Ethereum (Ethereum.org) network for a new transaction.
- EVM (Ethereum Virtual Machine) creates a new transaction and generates a unique identifier, known as “transaction ID”.
- A transaction structure is built, including the sender’s address, recipient address, gas limit, gas price and other relevant information.
Step 2: Gas Price Calculation
Before sending the transaction, Metask calculates the optimal gas price to use for your transaction. This is done by taking into account factors such as:
- The complexity of the transaction (eg using complex contractual functions or calling for external libraries)
- Number of gas units needed to execute the transaction
- Estimated Gas Prices in Ethereum network
Metask uses a smart contract called Gasprice Estimator to estimate the optimal gas price. This contract takes into account various factors including:
- User's Metask balance (to ensure sufficient transaction funds)
- Addressor and recipient addresses (to minimize gas costs)
- Transaction structure and complexity
Step 3: Payment of gases
Once the gas price is estimated, Metask requests a payment of gas from your Metask account. This implies:
- Sending a request to the Ethereum network to pay the gas amount
- Using gas prices calculated byGaspriceStimator ‘as a basis for payment
Step 4: Checking transactions
After the gas price is paid, the transaction is checked and executed in the Ethereum network:
- EVM checks the transaction structure and ensures that it complies with the specified rules
- The transaction is broadcast on the network for validation and confirmation
- If the transaction passes the validation, it is added to the blockchain and a “block” is created
Step 5: Creating the block
When multiple transactions are combined in a single block, they are incorporated and created as a new block. This process is called “block fusion”.
Step 6: Settlement of transactions
Once a block is created it is transmitted to the Ethereum network for verification and settlement:
- EVM checks the content of the block and ensures that everything is correct
- The transaction is checked again in the network (if applicable)
- Once checked, the block is added to the blockchain
Step 7: Confirmation
The last step in the life cycle of Metask transactions is confirmation. Here:
- If the sender’s funds are sufficient, a “confirmation” message is sent back to Metask, indicating that the transaction has been successfully processed
- The transaction is marked as complete and added to the blockchain
In summary, when sending 1 ETH from address to address B using Metask, several backstage transactions appear. From the creation of the initial request of the transaction to the verification and settlement on blockchain, each step plays a crucial role in ensuring the smooth execution of your transaction.
Note that this is a simplified explanation of the life cycle of metamark transactions.