✅ DAY 7/30

Transactions, Gas Fees & Reading the Blockchain (Etherscan)

Today I learned that every move in Web3 is public, traceable, and permanent.
No hiding. No guessing.
Just math + code doing their thing.


🔁 What Is a Blockchain Transaction?

A transaction is not just “sending money”. It can be:
Sending crypto
Minting an NFT
Swapping tokens
Calling a smart contract function
A transaction is basically:

“I want the blockchain to update its state.”

⛽ Gas Fees (Why You Pay Them)
Blockchains like Ethereum don’t run for free.
Gas fees pay for:
•Computing power
•Network security
•Validator work
You pay gas in ETH, even if you’re sending another token.
Why Gas Fees Change
Gas fees depend on:
•Network congestion
•Complexity of the transaction
•Demand vs space in blocks
•High traffic = higher gas.
That’s why sending ETH during hype can be expensive 💀

🧱 What Happens When You Send a Transaction?
- You click “Confirm” in your wallet
>Wallet signs the transaction with your private key
>Transaction goes to the mempool (waiting area)
>Validators pick it up
It gets added to a block

Blockchain state updates
Once confirmed:
❌ Can’t cancel
❌ Can’t reverse


🔍 What Is Etherscan?
Etherscan is a blockchain explorer.
It lets you:
-Track transactions
-View wallet balances
-Inspect smart contracts
-See gas fees
-Verify if a tx succeeded or failed
Basically: Google for Ethereum

📄 Reading a Transaction (Simple Breakdown)
When you open a tx on Etherscan, you’ll see:
•TX Hash
•Unique ID of the transaction
Status
•Success / Failed / Pending
•From / To
•Sender and receiver addresses
•Value
•Amount of ETH transferred
•Gas Used & Gas Price
•Cost of execution
•Block
•Which block it was included in
This is how you verify nothing is fake.
❌ Failed Transactions
A failed tx still:
•Uses gas
>Costs money
>Changes nothing
}}}Reasons for failure:
~Not enough gas
~Contract condition failed
~Slippage issues
Painful lesson everyone learns once 😭

🧠 Big Realization Today
In Web3:
There’s no “trust me bro”
Everything is verifiable
Anyone can audit anything
You don’t trust people. You verify transactions.


🔗 Resources for Day 7
🎥 YouTube
• Blockchain Transactions Explained
• Gas Fees Explained


🌐 Websites
• etherscan.io
• ethereum.org -->> Gas & transactions


#WEB3CHALLENGE
@DEVLUTO

🎉 Tadaaa

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Excited to start this journey and bring you awesome, high-quality content I’ve been working on

Youtube Link : https://youtu.be/yD2oeG8DnHU?si=UuYJL5qHFcmbJlSR

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@OnyxDesignx

Mtsm hey there

@DEVLUTO

Mtsm

@DEVLUTO

Side projects looking at me like heyyy cuhhh😭😭😂😂

Soooo

Some managed to get deployed...
While some didn't even get a repo😂 lemme share some links down here😁

https://luto-dev.github.io/myportfolio/projects.html

https://luto-dev.github.io/legal-landing-page/

https://luto-dev.github.io/blogarticle/

https://luto-dev.github.io/eventinvitation/

https://luto-dev.github.io/quotegenerator/

https://luto-dev.github.io/Lutodelivery/

https://escape-realstate.netlify.app/

https://lutosaas.netlify.app/

https://lu-pay.netlify.app/

tasskiiffyy.netlify.app

http://lernifyy.netlify.app

https://quranstream.netlify.app/

Mtsm memories 🫠, alhamdulilah

I'm still learning, evolving, you can see the evolutions on my lil ahh road map .. it's just the beginning 😁

A lot of em didn't get deployed that's why you might think there's a gap bln em ...

It's all a progress , it's never late to begin 😊

JUST START ✨

@DEVLUTO

what will you do if GPT generated this for ya😂😂

Create a caricature of me and my job based on everything you know about me

@DEVLUTO

I could turn a dum bih to a brain champion,

ahh instructors😭

@DEVLUTO

Create your own happiness 😁

@DEVLUTO

[I miss thinking hard.]

There are educated ïðióts as well

@DEVLUTO

Wtf is with this remove your profile picture privacy security and security issues mnamn every channel doing that, tf did I miss 😭😭😭

@DEVLUTO

Ummm

@DEVLUTO

They're saying that some scammers are using yo channels PfP and sending it to the telegram help by saying this is my channel and taking yo ownership mnamn ...

@DEVLUTO

Js make sure u have the two step verification on😊

@DEVLUTO

I love the wekeba and the fear😂😂 like get that shit down right now I ain't taking no risk😂😂😂😂😂 even some of my respected channels took their PfP down😂 (They have 50kSubs, ain't no body tryna lose that😂)

@DEVLUTO

Victim mtsm😭
losing 300k subs

(Helping the rumor cuz I'm Ethiopian yhe yekoye nw)

@DEVLUTO

" It's that damn UI update, that caused all this"

😭😭😭😂😂😂

@DEVLUTO