What is a Normal Transaction?

A typical transaction on the Ethereum blockchain refers to the simple transfer of Ether (ETH) or tokens between two wallet addresses.

These transactions are initiated by users and are directly recorded on the blockchain, making them easy to track.

Characteristics

• User-Initiated: A normal transaction is typically initiated by an individual or entity sending ETH or tokens from one address to another.

• Recorded on the Blockchain: All normal transactions are permanently recorded on the Ethereum blockchain, providing a transparent and immutable record.

Let’s take a look at Hyperledger Besu, one of the representative private blockchains based on Ethereum, used in enterprise environments.

First, there’s a question: Blockchain’s fundamental concept is aimed at decentralization with a focus on public transparency, so doesn’t the concept of a “private” blockchain contradict that?

The basic concept of a private blockchain is its use in corporate or personal environments.

In short, it means creating another Ethereum world tailored to the needs of the builder.

What is Ethereum?

1. A blockchain-based platform used to run smart contracts and decentralized applications (dApps).

2. It offers various features beyond cryptocurrency transactions, including smart contract functionality.

3. The Ethereum network consists of numerous nodes, each responsible for maintaining and validating the Ethereum blockchain.

Ethereum Virtual Machine (EVM)

1. A virtualized computing environment that runs smart contracts within the Ethereum network.

2. The core component of smart contracts and decentralized applications.

3. Acts as a virtual computer that operates in a decentralized manner on the Ethereum network.