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Tx-Watch

Today we are excited to release our Bitcoin and Bitcoin Cash visualizer tool - Tx Watch.

What Is 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.

Features

  • Real time Bitcoin and Bitcoin Cash network visualization!
  • Mobile and desktop optimized!
  • Bitcoin and Bitcoin Cash mempool and transaction stats
  • More cryptocurrencies coming soon ™️

What For

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.

Understanding The Data

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...

  • The value calculation when displaying is only a best guess, not an exact science. As transactions can be crafted in many ways, it's impossible to understand the value of every transaction.
  • BCH has very low transaction fees - under 1 cent usually - , which makes low value transactions possible on the network. It's not practical to send low value transactions when the mining fees are upwards of a dollar.
  • Low value transactions on BTC can occur on the Lightning Network, which is a second layer solution and not represented in the visualizer
  • Transactions which write data (memo.cash), or are second layer token transactions - such as Simple Ledger (SLP) tokens appear as micro transactions, regardless of transferred token value
  • And many more reasons, etc etc.

Over time we'll be adding additional information and features to the visualizer.

Where Is The Data From?

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.

Other Visualizers

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.

Enjoy,

Tx-Watch

Table of Contents

What Is Tx-Watch

Features

What For

Understanding The Data

Where Is The Data From?

Other Visualizers