My first ETH transaction!

I’ve done my first transaction, from my kraken.com account to my wallet! 😀 This is pretty cool stuff.. from my kraken account I only needed to insert the hash of my wallet and thanks to the magic of the blockchain, the transaction was added to the next block and arrived at my wallet 0xD5c55DF2Ed5320553855aB4D9C9B20448870Fbf2

If I go to Etherscan.io and enter my wallet’s hash I can see the transaction details.

etherscanio

txHash: This is the hash identifying uniquely this p2p transaction in the blockchain

Timestamp: The blockchain keeps a timestamped record of this transaction which will be impossible to modify by anyone in the future. This transaction’s record is now permanent history! 😀

From: The hash of the kraken site. It’s interesting that Etherscan knows that this hash belongs to kraken. How is this possible? This could resolve many regulatory problems linked to “Know your customer” (KYC) or “Anti Money Laundering” (AML) regulations.. One of the problems today is that it’s difficult to link a wallet’s hash to a peson who owns this wallet.

To: My wallet’s hash! 😀

Value: The amount of ether transferred. I wanted to transfer 5 ETH, but I only got 4.995 ETH. Some of this missing ETH has gone to the miners who mined my block in the form of gas (see below) and the major part of this cut I believe has been kept by kraken.com to fund their business model.

Gas: 150000 this represents the amount of work that went into the operation (transfer of ETH)

Gas Price: 0.00000002 ETH This represents the price that I was willing to pay for the operation to be done per unit of gas. If you offer a price which is too low, no one will process your transaction. Gas price is measured in szabo (10^-6 ETH)

Gas Used by transaction: 21000 I think this is the actual gas that was consumed. (as opposed to Gas which was the gas estimated) TODO: investigate and update this

Actual Tx Cost/Fee: 0.00042 Ether

Cumulative Gas Used 341714

Nonce: 43556

Input Data: 0x This means that I did not add any additional data to the transaction. TODO: Investigate what data attached to a transaction can do. Is this some executable code?

 

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