Ethereum: What is the difference between time, blocktime and timereceived?

Understanding Ethereum Transaction Information

Ethereum is a decentralized platform that enables the creation of smart contracts and decentralized applications (dApps). When a transaction takes place on the Ethereum network, it generates a set of information including the time, block time, and receipt time. In this article, we will explain what each of these terms means and how they are represented in the context of Ethereum transactions.

Time

In the context of Ethereum transactions, “time” refers to the transaction creation timestamp. This is a Unix timestamp that specifies the number of seconds that have passed since January 1, 1970 at 00:00 UTC (Coordinated Universal Time). The time is displayed in seconds, without any time zone offset.

For example, if you create a new token on the Ethereum network and its creation time is 2022-01-01T12:00:00Z, it will be represented as “1643723900”. This timestamp indicates when the transaction was created.

Block Time

“Block Time” refers to the delay between the creation of a block (a group of transactions) and its publication on the Ethereum network. A block is generated every 1 minute by the Ethereum network hash function (ENH), which creates a unique digital fingerprint of all the transactions within that block. The block time represents the time it takes for the next block to be published after the previous one has been mined.

For example, if a transaction with creation time 2022-01-01T12:00:00Z is included in a block with ENH hash value of “1234567890abcdef” and that block is published at 1643723902 (Unix timestamp), the block time will be represented as “1632”. This means that it takes 1 minute (or about 60 seconds) to mine the next block.

Received in time

Ethereum: What is the difference between time, blocktime and timereceived?

“Received time” refers to the timestamp of the “receipt” or confirmation of the transaction by the network. This is also called the time to confirmation and represents the delay between the creation of the transaction and its acceptance by the Ethereum network.

In the context of the Bitcoind JSON RPC API, which allows developers to interact with the Ethereum blockchain, the received time is represented as “1632”. This means that if a transaction was created at 2022-01-01T12:00:00Z and received at 1643723902 (Unix timestamp), it would be confirmed by the network about 1 minute later.

Example Transaction Information

Here is an example JSON object representing transaction information returned by the Bitcoind JSON RPC API:

{
"amount": 0.02,
"block index": 45,
"timestamp": 1643723902,
"received": 1632,
"time": 1643723915,
"transaction id": 1234567890abcdef,
...
} }

In this example, the transaction information includes:

  • amount: The amount of ETH being sent.
  • blockindex: The block number the transaction is included in.
  • timestamp, timereceived, and time represent the time and delay between the creation of the transaction and its confirmation by the network.

By understanding these three terms – time, block time, and receipt time – developers can better understand how transactions are processed on the Ethereum network and make informed decisions about their own blockchain development efforts.

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