Ethereum: How does OP_EQUALVERIFY work?

Understanding Ethereum’s OpEquals Protocol: A Guide to OP_EQUALVERIFY

In the world of blockchain technology, several protocols have emerged to enable secure and efficient transactions between parties. One such protocol is
Ethereum

, particularly its
OpEqualVerify (OP_EQUALVERIFY) feature. In this article, we’ll delve into how OP_EQUALVERIFY works in a standard Ethereum transaction.

What is OpEqualVerify?

OpEqualVerify is a cryptographic technique developed by Vitalik Buterin, the co-founder of Ethereum. It’s used to verify that two transactions are equal and come from the same origin, without relying on digital signatures or other forms of authentication. In essence, OP_EQUALVERIFY ensures that each transaction is tamper-proof and follows a predetermined set of rules.

The Basics of Public Key Hashing

Before we dive into OpEqualVerify, it’s essential to understand how public key hashing works in blockchain transactions. A
public key hash (PKH) is a digital fingerprint created from the
private key of a user. It’s calculated using the following steps:

• The private key is converted into an
  encrypted message.

• This encrypted message is hashed using a cryptographic algorithm, such as SHA-256 or Keccak-256.

• The hash value is then stored in the public key.

OP_EQUALVERIFY: How it Works

Now, let’s apply this understanding to OpEqualVerify. Here’s a step-by-step explanation:

• Transaction creation: Two parties (e.g., sender and recipient) create a new transaction on the Ethereum network.

• Each transaction includes two hash values: transactionHash and expectedHash. These are used as input parameters for the OpEqualVerify process.

• The
  public key hash of the sender’s private key is calculated, along with the transactionHash.

• A hash function (e.g., SHA-256) is applied to the public key hash and transactionHash values.

• If the resulting hash value matches an expected hash value for a specific block height, transaction is verified as
  equal.

How ​​​Does OP_EQUALVERIFY Verify the Transaction?

To verify that two transactions are equal, the following conditions must be met:

• The same public key hash exists in both transactions.

• The transactionHash values ​​​​in both transactions match.

• A valid signature (using a private key) is present for each transaction.

If these conditions are satisfied, OpEqualVerify verifies that the two transactions have originated from the same account and are equal according to their expected rules. If any of these conditions are not met, the transaction will be rejected by Ethereum’s validation layer.

Example Use Case

Suppose we want to verify that a user has sent 100 Ether (ETH) from one address (0x1234567890abcdef) to another address (0x8765432109876543210abcdef). We create two transactions, tx1 and tx2, with the same public key hash (0x8765432109876543210abcdef) for the sender’s private key.

We then calculate OP_EQUALVERIFY hashes using the following inputs:

• tx1Hash: The hash value of a block containing tx1

• expectedHash1: A specific expected hash value (e.g., 0x123456789012345678901234567890abcdef)

• tx2Hash: The hash value of a block containing tx2

If the resulting hashes match, we have successfully verified that tx1 and tx2 are equal. If they don’t, the transactions will be rejected.

Conclusion

In conclusion, OP_EQUALVERIFY is an essential protocol in Ethereum that ensures the integrity and uniqueness of transactions. By understanding how it works, you can better grasp the underlying mechanics of blockchain technology. Remember to always verify transaction hashes using OpEqualVerify before proceeding with any transactions on the Ethereum network.

GOVERNANCE TOKEN SCALPING BLOCK