Ethereum: Understanding the legal area of ​​money for Bitcoin transactions and messages

As the second largest cryptocurrency after market capitalization, Ethereum has attracted considerable attention in recent years. However, when it comes to carrying out transactions and sending messages in the Ethereum network, users often meet questions about what is considered “legal” in terms of currency range.

In this article, we will deal with the details of the legal money area for Bitcoin transactions and messages in the Ethereum network and examine potential upper limits beyond the maximum block size.

Bitcoin transaction area

The minimum value that can be recorded in a Bitcoin transaction is a Satoshi (Satoshi X). This may seem insignificant, but it is important to understand its effects. From February 2023, the minimum transaction amount in the Ethereum network is also a Satoshi. This means that users can initiate transactions with a total value of zero Satoshi.

However, it is worth noting that most Bitcoin exchanges and items enable users to set their own limits for transaction values, so that this restriction does not apply to all users or stock exchanges.

Bitcoin transaction area restrictions

While the minimum transaction quantity is a Satoshi, there are no explicit restrictions on the maximum value of a single Bitcoin transaction. In other words, every Bitcoin can be sent as a single unit.

Apart from that, there are some restrictions to take into account:

! Depending on the network overload and the number of confirmations required for each transaction, these fees may vary.

Block size restriction : As already mentioned, the maximum block size is 1 million units (1000 BTC). This does not affect the value of individual transactions, but it is important to be careful or block when sending large amounts.

Ethereum transaction range

In the Ethereum network, users can initiate Bitcoin transactions with a minimum value of an ether (Ether X) and a maximum value of 2^256-1.

However, there are some important differences to the consultant:

* Transaction fees

: The gas fees from Ethereum, which can be up to 500 US dollars per block (depending on the network overload), are significantly higher than the people connected to Bitcoin.

Block size restriction : The maximum block size is still 1 million units (1000 BTC), just like in the case of Bitcoin.

Ethereum transaction range restrictions

While the transaction range of Ethereum is larger than that of Bitcoin, there are some restrictions for the consultant:

* transaction fees

: As already mentioned, gas fees in the Ethereum network can be unaffordable for large transactions.

Gas ​​price -Inflation : The increasing demand for gas flow in the Ethereum network has increased gas prices, which makes it more difficult to send large amounts of Bitcoin.

Diploma

Although there are some restrictions and restrictions on the implementation of transactions and messages in the Ethereum Network in Bitcoin style, the entire currency area is much larger than that of the counterpart. Understanding these differences can help users make sound decisions about their cryptocurrency transactions and investments.

Since the use of cryptocurrencies continues to grow, it is important to stay up to date on the latest development and regulations regarding transactions and messages on the blockchain.

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