Journey of a transaction
Alice creates a request to send ETH to Bob from her account (address)
Alice sign the request with her private key
Inputs: value - ETH amount to be sent in WEI (*10^18) maxFeePerGas - ETH GasPrice in GWEI (*10^-9) maxPriorityFeePerGas - tips to miner gasLimit - max amount of gas units can be consumed nouce - random number to avoid repeat processing Call: send() function on the blockchain
Receive a TX hash generated by cryptography
The TX propagates throughout the entire network's nodes
See a pending TX
Block generation: The selected node validates the block (prioritize stack of TXs with higher fee) and propagates the block to the entire network, validators validate the block to make sure it's valid.
Bob received and Alice's ETH deducted.
In the meantime, MEV arbitrages happen between transactions.
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