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.
