2 min read - [announcement, visualizer]
Today we are excited to release our Bitcoin and Bitcoin Cash visualizer tool - Tx Watch.
Tx-Watch listens to the Bitcoin (BTC) and Bitcoin Cash (BCH) blockchains in real-time and visualizes the transactions and blocks as they happen. Along with showing some information about each chains mem-pool and general transaction information.
Each transaction and block is represented as an object, which changes depending on the estimated value of the transaction.
Visualizers can help us understand networks and how they are being used. By watching both of the networks over time, we can see patterns which would otherwise not be obvious, which can lead to a greater understanding of each network. Each visualizer highlights different aspects of the blockchain, so viewing and learning from multiple visualizers can give us a more complete understanding of the ecosystem. A few alternative visualizers will be linked at the bottom of the article.
It's easy to look at the data and make quick assumptions as to what is happening, but it's also important to take a moment and understand what the data means.
For example: The BTC network tends to have a lot more high value transactions, whereas BCH has a lot more low value transactions. Why is that? And what could cause that difference?
This has many contributing factors, some of which include...
Over time we'll be adding additional information and features to the visualizer.
All of the data tx-watch uses comes from public API's anyone can use. If you want to try developing blockchain apps, here are some good places to start.
There are other transaction visualizers out there, some may work better for you, or show information in other ways. Try them out as well.
Here's a short list, get in contact with us about others and we'll update the list.