What is the Meaning of 'Nonce' in Ethereum?
Ethereum is the pioneer smart contracting platform. Therefore, specific terminologies were derived and became mainstream with the increasing adoption of the network.
One of them is the term 'nonce’.
Every Ethereum transaction has a nonce. Given the input-output nature of crypto, a nonce is the number of transactions sent from a given address that defines the order of transactions preventing double-spending attempts. It is a number that can be used only once and isn't stored in the blockchain but instead used for guidance.
A nonce is critical in the Proof-of-Work network where transactions must be hashed and difficulty level matched.
For every hashed block in a blockchain, a number—or nonce—is added so that when the block is rehashed, mining difficulty level restrictions are met.
Because of how critical a nonce is, it explains why an exchange, for example, will prevent a user from spending fresh deposits until the transaction has a certain number of confirmations.
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