Based on lua benchmarks, I conducted my own tests.
Here is a gist of the proposal for Proof-of-concept (POC) for Gold Backed Cryptocurrency Technology Demonstrator
We Indians are obsessed with gold, while RBI (Reserve Bank of India) holds 557 tonne gold, we citizens hold 20,000 tonne gold! Must of this gold is in form of jewelry. Indian women hold jewelry as a form personal social security, in rare financial crisis, she uses this as a collateral for taking loans. Many, middle to low middle class families gives a small amount from the household savings, to the jeweler, and buys virtual units of gold. After a threshold, she gets it converted to gold ornaments.
Savings in form of gold ornaments is highly unproductive, as it shaves off up to 30% as making & conversion charges.
Post demonetization, Indian citizens are more aware of Digital transactions and use of e-wallets. Gold is available as an investment instrument in dematerialized form.
This backend can integrate with various e-commerce backends like Magento. Please Note that this integration is out of scope of this refactoring project.
ubuntu@qzip-u64-1804:~/ethlance$ pwd /home/ubuntu/ethlance git clone https://github.com/district0x/ethlance
|The MIT License (MIT)
|Copyright (c) 2015 Joseph T. McBride
|Permission is hereby granted, free of charge, to any person obtaining a copy
|of this software and associated documentation files (the "Software"), to deal
|in the Software without restriction, including without limitation the rights
|to use, copy, modify, merge, publish, distribute, sublicense, and/or sell
I prepared this gist to confirm from the community if my assumption on Ethereum POA (clique) gas burning is correct?
From what I groked today in the ethereum go code, it appears that the gas used during the contract execution is burned, that is debited from the contract transaction submitter’s account but not credited to anyone.
Please see the code snippets below: