Do you want to know what the transactions look like happening in real time? This awesome app makes it easy.
I like visualizations. Especially blockchain related ones. They make my fingers sweaty and my spidey-sense go whack. Decentralized transaction visualizations...that's the good stuff.
I stumbled upon this app at dailyblockchain.github.io, which visualizes transactions happening on Bitcoin.
These are transactions that are submitted to the network and compete for being included in a block. The single blue dots represent a single transaction. The picture above shows normal single transactions as they fly in.
You can navigate by using the mouse+scroll to zoom in and out and press SPACE to run or pause it.
624 Inputs on this transaction and one output amounting to 20 BTC. Super high transaction fee of 0.1 BTC. What? This transaction is still unconfirmed and in my understanding it never will be, since the applicant does not own the keys that can redeem all transaction inputs. And there are a lot of inputs that need to be verified in this transaction. By paying a high fee, the spammer is requesting priority processing from the miners for a transaction that will be rejected by the blockchain anyway, thus making everyone's actually valid transactions else wait -> clogging up the network.
To give credit where credit is due: The post was inspired by Shayan Eskandiri's Twitter post. The visualization is provided by https://dailyblockchain.github.io . If you think he did an awesome job at programming this, you consider supporting him by donating a few Satoshis :)
Head over to the website and check it out for yourself, it's fascinating :)
