In this post, we will try to visualize how blockchain transaction works. Every chain has some specifications but with this animation, you’ll easily imagine how every transaction goes and how is speed depended on fees. Visualization is made by TxStreet.com.
TxStreet.com is a live cryptocurrency transaction visualizer featuring Bitcoin, Ethereum and Bitcoin Cash. When a new transaction is broadcasted to a cryptocurrency, a person appears and attempts to board a bus. If the transaction has a high enough fee, they will board the first bus and be ready to be included in the next mined block. If there are too many transactions to be included in the next block, and the transaction didn’t pay a high enough fee, the person will either wait in line or board a different bus. Consecutive buses will appear when there are enough transactions to fill them.
The movement speed of a person represents how high of a fee they paid compared to the current median fee.
The size of a person represents the size of the transaction (Bytes for BTC/BCH, Gas for ETH).
ETH contract lists from Dapp.Review
Market data from CoinGecko.com