History

Transaction Classification

Based on the provided transaction data, this transaction appears to be a batch transaction rather than a CoinJoin.

Key Indicators:

• Inputs: The transaction has 11 inputs, which typically suggests consolidation of funds from multiple sources, characteristic of batch processing.
• Outputs: It has a single output, indicative of a transaction gathering funds for a future operation.
• Behavior Flags: The behavior flags specify that it is not CoinJoin-like and is likely designed for consolidation.

In summary, the structure and behavior of this transaction align more closely with batch processing rather than a CoinJoin scheme. If you have more questions or need further clarification, feel free to ask!

Transaction Analysis Overview

Transaction ID: c61d014e706611950ef516ec16c3749cf8c22b2d5be09d444a2132f737532476
Block Height: 895680
Fee: 2058 sats

Key Insights

• Transaction Type and Structure:

  • This transaction uses an uncommon approach with 11 inputs and 1 output, indicating a likely consolidation of funds from multiple addresses. The dominant wallet type is v1_p2tr for inputs, with a p2pkh output, illustrating a blend of transaction types that is particularly efficient for consolidating UTXOs.

• Input/Output Patterns:

  • The presence of multiple inputs typically suggests either a batch transaction or consolidation of previous transactions into a single output. This architecture may be driven by the sender’s intent to minimize future transaction fees by reducing the number of UTXOs in their wallet.
  • The ratio of inputs to outputs (11:1) is unusual, showing an aggressive consolidation strategy that is often employed to manage wallet efficiency.

• Fee Analysis:

  • The transaction fee of 2058 sats might appear low given the extensive input count, revealing a favorable fee per input, which is an interesting advantage given the transaction's size and complexity.
  • It does not rank among the top fee payers, indicating a moderate urgency in the transaction but perhaps an intent to keep costs low.

Insights from Block 895644

Block Characteristics

• Block Height: 895644
• Miner: Foundry USA
• Timestamp: 1746617235
• Total Transactions: 4128
• Block Size: 1,583,255 bytes
• Weight: 3,993,803 units

Key Findings

1. High Transaction Volume: This block contains an unusually high number of transactions (4128). In comparison, the previous block (895643) had only 1073 transactions. The increase signifies elevated activity or processing of more compact transactions such as P2WPKH.

2. Total Fees and Noteworthy Transactions:

   • Total Coinbase Value: The miner earned 318,466,346 sats, indicating robust mining revenue.
   • Top Fees: The highest transaction fee in this block was 114,600 sats, starkly higher than the highest fee of 21,150 sats in the prior block. The large variances in transaction fees may reflect shorter confirmation times or higher demand for block space.

3. Miner Consistency: Foundry USA has consistently mined these two blocks. However, the dramatic increase in transaction count and fees in this block raises questions about miner strategy, potentially capitalizing on favorable network conditions.

Wallet Types Breakdown

• Diverse Wallet Types: The distribution of wallet types includes traditional formats (P2PKH and P2SH), but predominantly modern formats like V0_P2WPKH (42).

Are There Any Ordinals or Inscriptions?

Yes, there are Ordinals and inscriptions present. In the latest block mined (height 895640), there are 6 OP_RETURN transactions indicating data has been carried on the blockchain. This could include inscriptions and other data types associated with Ordinals.

Key Points:

• Current Height: 895640
• OP_RETURN Transactions: 6
• Previous Block OP_RETURN Transactions: 4

The presence of OP_RETURN typically signifies data storage capabilities within Bitcoin, allowing for inscriptions to be recorded.

If you have more questions about Ordinals or how they work, feel free to ask!

Understanding the Coinbase Message

The coinbase message acts like a signature or a personal note from the miner who creates a new block in the Bitcoin blockchain. It often contains creative expressions or statements reflecting the miner's beliefs or achievements.

Recent Example

• From Block 895640: The miner, AntPool, included the message:
  Mined by AntPool <mm<>Oc^L.T{

Purpose of the Coinbase Message

• Personalization: It allows miners to express themselves.
• Record Keeping: It can serve as a historical note within the blockchain.

These messages reflect the spirit of the mining community, adding a unique touch to the technical process of mining Bitcoin.