Ethereum: What is the “transaction not found” on the average blockchain?
As an cryptocurrency investor, it is natural to wonder what is happening when you ask for a withdrawal or transaction from your exchange account and the funds are not received in a timely manner. In this article, we decompose the concept of “not found transaction” (TNF) on the Ethereum blockchain, including its possible causes and implications.
What is the transaction found?
When you launch a request for withdrawal from your Gemini Exchange account using the Metamask portfolio or other supported wallets, you essentially send a transaction to the Ethereum network. This transaction is broadcast on the free market, where it can be seen by other users on Ethereum blockchain. However, if no one has received funds in a certain period of time (usually 10 minutes), it is considered to be “transaction not found” (TNF).
What does that mean?
Essentially, the “transaction not found” means that there are no corresponding transactions on the blockchain that have been confirmed by a minor. In other words, your request is still under processing by the network, but it has not been appeared at any existing transaction. This does not necessarily imply that funds will never be received; Instead, it is simply a question of waiting for them to appear on the free market.
Transaction causes that are not found:
Several factors can contribute to an “transaction not found”:
- Congestion of the network: As for any blockchain network, a high volume of transactions can cause congestion, causing delays.
- lack of confirmation: If the amount requested is less than $ 25 (the minimum gemini withdrawal amount) or if it is a small transaction, it may not receive immediate confirmation of the network .
- Missing funds in Mempool: The “Mempool” is the list of waiting transactions on the blockchain. If your request is part of this list but does not have enough confirmations to move forward, it will be marked in TNF.
Possible results:
In most cases, if you wait four days for withdrawal from Gemini and you have still not received Bitcoin with Bittrex receiving the exchange, the following results are possible:
- No funds: It is likely that the transaction has been processed and confirmed by minors, but it has not yet been equal to any existing transaction.
- Not confirmed or pending: In some cases, your request could still be in Mempool, pending additional confirmation to move forward.
Attenuation factors:
To reduce the probability of encountering a problem of “transaction not found”:
- Wait a reasonable time: Wait at least 10 minutes before checking if your withdrawal has been processed.
- Check the history of your transaction: Examine your recent transaction activity on the GEMINI platform to make sure you don’t miss any confirmation.
- Monitor the activity of the blockchain: Keep an eye on the activity of MECPOOL and the network to attend any potential problem early.
Conclusion:
In conclusion, the “not found transaction” is a normal phenomenon that can occur due to various factors such as high transaction volume, lack of confirmation or congestion on Ethereum blockchain. Although it may seem frustrating to wait four days for your withdrawal from Gemini, there are measures that you can take to mitigate this problem and make sure that your funds arrive in Bittrex in a timely reception.
Additional resources:
For more information on Ethereum transactions and blockchain operations, plan to explore the following resources:
- Official Documentation of Ethereum: <
- Gemini Exchange support page: <
- Bittrex assistance page: <
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