Understanding the Ethereum transaction output: “Not yet redeemed”
As you dive into the world of cryptocurrency transactions on Block Explorer, you will probably come across unknown concepts and concepts. One such term is “not yet redeemed.” In this article, we will break what this means in the context that is relevant to Ethereum blockchain.
Explanation of transaction output:
In Block Explorer, each block exit represents a transaction mined from the previous block. Each output contains several data including:
- From the address
: the address of the wallet that has launched a transaction.
- At the address : the recipient’s wallet address that received the funds or data.
- Token/property : type of asset that is transmitted (eg ether, Dai).
- Value : the amount of token or assets that are transmitted.
- Data : Optional transaction information.
“Not yet redeemed”:
When the exit of the transaction states “has not yet been redeemed”, this means that the transfer has not met the recipient’s wallet address. In other words, no funds were moved to this address as part of the transaction. This is different from the bounce procedure, which usually includes the transfer of the funds back to the sender’s wallet.
Possible causes:
There are several reasons why the transaction exit could state “not yet redeemed”:
- The wallet has not been confirmed : the recipient’s wallet wallet may not have confirmed the transaction yet.
- Request for a refund : The recipient’s wallet wallet may require a refund for a failed transaction or exchange of funds.
- In the course of payment : The transfer may still need to go through more wallets before it can be fulfilled.
Conclusion:
In short, “not yet redeemed” at the Ethereum Block Explorer transaction exit indicates that the transmission has not met the recipient’s wallet address. This could be a consequence of various reasons such as unconfirmed transactions, refund requirements, or payment procedures in progress. While you continue to explore the world of cryptocurrency transactions, keep in mind this concept and be awake for any “not yet redeemed” exit on Block Explorer.