Doubt in Lesson 5

[harry2855]

Lesson 5: I have a doubt at 7:14:50. Transaction receipt should only be printed when one more block confirmation is there. But why it is printed without any further block confirmation on the blockchain?

[COSMICnoob80]

In a local blockchain network like Ganache, block confirmations are instantaneous since the network is not decentralized and the blocks are mined immediately.

In a production blockchain network like Ethereum mainnet, block confirmations are required to ensure the validity and finality of transactions. However, in a local development environment such as Ganache, the confirmation process is usually bypassed for convenience and faster development iterations.

When working with Ganache, transactions are typically mined instantly, and the transaction receipt is immediately available. This behavior differs from a production environment where transactions need to be included in a block and go through multiple confirmations before the receipt is considered final.

Therefore, in a local development environment like Ganache, you may see the transaction receipt printed immediately after the transaction is mined, without waiting for additional block confirmations.

[COSMICnoob80]

The terms "transaction receipt" and "transaction response" refer to different aspects of a transaction in blockchain systems.

1. Transaction Receipt: A transaction receipt, also known as a transaction confirmation or transaction log, is a piece of data that provides information about the execution of a transaction on the blockchain. It is generated by the network after the transaction has been successfully included in a block and processed by the network nodes. The transaction receipt contains details such as the transaction hash, block number, gas used, events emitted, and other relevant information. It serves as proof that the transaction has been successfully executed on the blockchain.

2. Transaction Response: The transaction response, on the other hand, typically refers to the immediate response returned by the blockchain client or API when a transaction is submitted. It is the initial acknowledgment that the transaction has been received by the network and has been successfully broadcasted to the network nodes for processing. The transaction response may include the transaction hash, indicating the unique identifier for the transaction. It does not guarantee that the transaction will be included in a block or executed successfully; it simply confirms that the transaction has been submitted to the network.

In summary, the transaction response is the immediate acknowledgment of the transaction submission, while the transaction receipt provides detailed information about the transaction's execution and inclusion in the blockchain. The transaction receipt is considered more reliable and final, as it is generated after the transaction has been successfully processed by the network.

[harry2855]

Thanks buddy

[COSMICnoob80]

NP