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Foundations: Transactions

What Are Network Fees?Network fees are the price of scarce block space

What Are Network Fees?Network fees are the price of scarce block space. They are not arbitrary tolls: they are the mechanism blockchains use to decide which transactions get included first, compensate miners or validators, and make large-scale spam expensive.Mar 21, 202625 min read

What Are Blockchain Confirmations?A blockchain transaction can look done long before it is truly hard to reverse

What Are Blockchain Confirmations?A blockchain transaction can look done long before it is truly hard to reverse. Confirmations are the practical measure users and services rely on to decide when a payment is merely seen, included, or buried deeply enough that reversing it becomes unlikely or economically costly.Mar 21, 202623 min read

What is Gas?Gas is how blockchains put a price and a limit on computation

What is Gas?Gas is how blockchains put a price and a limit on computation. Without it, a smart contract could loop forever, validators would have no clear way to ration scarce block space, and users would have no predictable way to compete for inclusion.Mar 21, 202624 min read

What Is a Nonce?A nonce looks like a small field in a transaction, but it solves a deep problem: how does a network know whether a signed instruction is new, duplicated, or out of order? Once that clicks, nonce stops being a wallet annoyance and becomes one of the core mechanisms behind transaction safety and execution

What Is a Nonce?A nonce looks like a small field in a transaction, but it solves a deep problem: how does a network know whether a signed instruction is new, duplicated, or out of order? Once that clicks, nonce stops being a wallet annoyance and becomes one of the core mechanisms behind transaction safety and execution.Mar 21, 202625 min read