Journey of a transaction

Step
User perspective
Blockchain perspective
1

Alice creates a request to send ETH to Bob from her account (address)

2

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

3

Receive a TX hash generated by cryptography

The TX propagates throughout the entire network's nodes

4

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.

5

Bob received and Alice's ETH deducted.

In the meantime, MEV arbitrages happen between transactions.

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