Transaction Execution

Transaction Execution in CTEX Chain:

When a transaction is initiated on the CTEX Chain, it undergoes a series of steps to ensure its validity, execution, and recording on the blockchain. The transaction execution process within the CTEX Chain ecosystem involves the following key components:

1. Transaction Submission: When a user initiates a transaction, it is submitted to the CTEX Chain network for processing. The transaction contains essential information such as the sender's address, recipient's address, amount of tokens to be transferred, and any additional parameters required for smart contract execution.

2. Validation by Elected Validators: Elected validators within the CTEX Chain network validate incoming transactions to ensure their authenticity and compliance with network rules. Validators verify the transaction's digital signature, check for available funds, and confirm that it adheres to the consensus protocol. Valid transactions are then included in proposed blocks for further processing.

3. Execution by Ethereum Virtual Machine (EVM): Upon validation, the transaction payload, which may include smart contract code and parameters, is executed by the Ethereum Virtual Machine (EVM). The EVM interprets the bytecode contained within the transaction and executes it in a deterministic manner, ensuring consistent results across all network nodes. Smart contracts are autonomously executed, enabling complex logic and functionality within decentralized applications.

4. Result and State Changes: The execution of the transaction generates a result, which may include the transfer of tokens, modification of smart contract state variables, or invocation of other smart contracts. These state changes are recorded on the blockchain, reflecting the updated state of the network after the transaction execution. The transaction result is typically encoded as part of the transaction receipt, providing transparency and auditability of network activities.

5. Inclusion in the Blockchain: Once the transaction is successfully executed and its result recorded, the proposed block containing the transaction is appended to the blockchain. The block is propagated across the network and validated by other nodes to achieve consensus. Upon confirmation by a sufficient number of validators, the transaction becomes permanently recorded on the blockchain, ensuring immutability and security of the transaction history.

In summary, transaction execution in CTEX Chain involves the submission, validation, and execution of transactions by elected validators, followed by recording of transaction results and state changes on the blockchain. Through the utilization of the Ethereum Virtual Machine (EVM) and a decentralized consensus mechanism, CTEX Chain ensures secure, transparent, and efficient processing of transactions within its ecosystem.