Since its inception in 2015, Ethereum has processed more than 1 trillion transactions. Today we will show you how to read Ethereum Transactions. Let’s find out by reading the article below.
How to read Ethereum transactions?
Depending on which Ethereum-backed crypto wallet you are using, you should be able to access your transaction history. If this is the case, you will most likely find your transaction status, execution time and other basic information. However, for in-depth analysis, it is recommended to use the Ethereum Blockchain Explorer - Ethereum's search engine.
Some of the famous blockchain explorers you might choose are:
- Etherscan.
- Ethplorer.
- EthVM.
Components of an Ethereum transaction on Etherscan
Transaction Hash: A unique identifier that can be used to locate a specific transaction.
Status: The current status of the transaction (successful, failed, or pending).
Block: The block number that contains the transaction.
Timestamp: The time the block was mined, in UTC.
From: The account that originally sent the transaction.
To: The account to which the transaction was sent.
Value: The amount of ether included in the transaction.
Transaction fee: The amount of ether paid to a miner to process a transaction, calculated as the amount of gas used multiplied by the gas price.
Gas Limit: An upper limit on how much computational work and storage the sender is willing to spend on a transaction.
Gas used by the transaction: The amount of computational effort and storage used in the transaction.
Gas Price: The amount of Ether per unit of Gas that a user is willing to pay for a transaction, usually expressed in Ether subunits called Gwei. 1 Gwei = 1x10^-9 Ether.
Nonce: The count of transactions sent from the account. This number is initialized to 0 and incremented by 1 each time a transaction is sent.
Input data: Information passed to the smart contract when a transaction is sent to its address. However, if the transaction is creating a contract, the bytecode of the contract will be placed in the input data field.
I hope this article will help you to learn how to read Ethereum Transactions. Transactions are cryptographically signed instructions from accounts. An account will initiate a transaction to update the state of the Ethereum network.
