Analysis, Evaluation and Benchmark The Ethereum Incentive Mechanism

Abstract

Ethereum is a permissionless blockchain with a Turing complete machine for smart contracts. Ethereum's Gas mechanism, which charges the execution of each operation code, is proposed to ensure the termination of smart contracts that run in the EVM (Ethereum Virtual Machine) and to compensate the computational usage. Thus, the Gas awarded should be rational to the required computational, to ensure the alignment and to avoid the denial of services attack. Currently, in Ethereum, Gas awarded is set statically for each operational code in the smart contract, but it is unknown if whether these values are correct or not for various computer architectures. Therefore, in this paper, we show the most common used operational codes and the rationality of the Gas to the CPU usage for a selected set of the EVM's operational codes.