Definition
A transaction is a structured instruction submitted to a blockchain. It can transfer a native asset, interact with a contract or perform another permitted state change. Transactions have protocol-specific formats and authorization requirements. A trade recorded inside an exchange account is not necessarily a separate transaction on the underlying blockchain.
From Submission to Confirmation
A wallet prepares and signs the instruction, then sends it to the network. Nodes check whether it meets relevant rules. An eligible transaction may wait before a block producer includes it. The protocol determines when inclusion is considered sufficiently confirmed or finalized. Broadcasting alone does not establish successful settlement, and a contract call can be included while its intended execution fails.
Key Considerations
Users should verify the network, recipient, asset and permissions before signing. Fees and processing time depend on the network and transaction type rather than only the transferred amount. A transaction identifier helps track status but does not prove the intended recipient received the correct asset. Confirmed transfers may be difficult to reverse, and an application’s internal status can differ from on-chain settlement.