| Transaction Type | Transaction Count | Percentage |
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A blockchain is a distributed digital ledger that records transactions across a network of computers. Unlike traditional databases controlled by a single entity, blockchains are decentralized, meaning no single party has complete control. Each "block" contains a batch of verified transactions, and these blocks are linked together chronologically using cryptographic hashes, forming an unbreakable chain of data.
The revolutionary aspect of blockchain technology is its immutability. Once a transaction is recorded and confirmed, it cannot be altered or deleted without changing every subsequent block in the chain. This makes blockchains incredibly secure and transparent, as all participants can verify the entire transaction history.
When you send cryptocurrency, your transaction first enters a waiting area called the "mempool" (memory pool) or transaction pool. Think of this like a bus stop where passengers (transactions) wait to board a bus (block). Miners or validators select transactions from this pool based on various factors, including the fee attached to each transaction.
On networks like Ethereum, users pay "gas fees" to compensate validators for processing their transactions. Higher gas fees typically mean faster confirmation times, as validators prioritize more profitable transactions. This is why during periods of high network activity, transaction fees can spike significantly.
Bitcoin, launched in 2009, is the original cryptocurrency and operates primarily as a digital store of value and payment network. Bitcoin uses a Proof of Work (PoW) consensus mechanism where miners compete to solve complex mathematical puzzles, with new blocks created approximately every 10 minutes. Bitcoin's block size is limited to about 1MB, which restricts the number of transactions per block.
Ethereum, launched in 2015, extends blockchain capabilities with smart contracts, self-executing programs that run automatically when conditions are met. Ethereum transitioned to Proof of Stake (PoS) in 2022, where validators stake ETH to secure the network. Ethereum produces blocks approximately every 12 seconds, enabling faster transaction confirmations than Bitcoin.
Layer 2 (L2) networks are scaling solutions built on top of Layer 1 blockchains like Ethereum. They process transactions off the main chain, bundling many transactions together before submitting them as a single compressed batch (called a "blob") to the main network. This dramatically reduces costs and increases throughput while inheriting the security of the underlying blockchain.
Popular L2 solutions include Base (backed by Coinbase), Optimism, Arbitrum, and World Chain. These networks can process thousands of transactions per second at a fraction of the cost of transacting directly on Ethereum. Our visualizer shows these L2 blob transactions as colored dots, helping you understand how Layer 2 networks interact with Ethereum's main chain.
Gas is a unit measuring the computational effort required to execute operations on the Ethereum network. Every transaction requires a certain amount of gas, and users specify how much they're willing to pay per unit of gas. The total fee equals the gas used multiplied by the gas price. During network congestion, gas prices rise as users compete for limited block space.
The "median transfer fee" displayed in our visualizer represents the typical cost of a standard ETH transfer. This metric helps you gauge current network conditions and decide the best time to make transactions.
Our real-time blockchain visualizer brings these concepts to life. Watch as new blocks arrive like buses, carrying batches of transactions. The green dots in the waiting area represent pending transactions in the mempool. When a new block is confirmed, you'll see the bus animation collect these transactions and deliver them to the "executed" zone, representing successful confirmations.
Use the dropdown menu to switch between Bitcoin, Ethereum, and Base networks. Each blockchain has different block times, transaction volumes, and fee structures. Compare them to understand how different design choices affect network performance and user experience.
The "Transaction Type Analysis" table breaks down the types of smart contract interactions in recent blocks, from simple transfers to complex DeFi operations like swaps, mints, and liquidity provisions. This data reveals what activities dominate the network at any given time.