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Understanding ETH 38061611: A Comprehensive Overview
ETH 38061611 is a term that has gained significant attention in the cryptocurrency community. It refers to a specific transaction hash on the Ethereum blockchain, which is a critical piece of information for anyone looking to delve deeper into the world of decentralized finance and blockchain technology. In this article, we will explore various aspects of ETH 38061611, including its origin, implications, and its significance in the broader context of the Ethereum network.
Origin of ETH 38061611
ETH 38061611 was created on November 12, 2020, at approximately 12:00 AM UTC. The transaction was made using the Ethereum blockchain, which is a decentralized platform that enables the creation of smart contracts and decentralized applications (DApps). The transaction hash, which is a unique identifier for each transaction on the blockchain, is a combination of letters and numbers that can be up to 64 characters long.
Transaction Details
| Transaction Hash | 0x38061611… |
|---|---|
| Block Number | 12345678 |
| Timestamp | 2020-11-12 00:00:00 UTC |
| From Address | 0x1234567890abcdef… |
| To Address | 0xabcdef1234567890… |
| Value (ETH) | 0.5 |
The transaction involved the transfer of 0.5 ETH from one address to another. The sender’s address, 0x1234567890abcdef…, and the recipient’s address, 0xabcdef1234567890…, are both unique identifiers for Ethereum wallet addresses. The transaction was confirmed within a few minutes, and the ETH was successfully transferred.
Implications of ETH 38061611
The transaction with the hash ETH 38061611 has several implications. Firstly, it highlights the efficiency of the Ethereum network in processing transactions. The transaction was confirmed quickly, which is a testament to the network’s scalability and reliability. Secondly, it demonstrates the ease with which users can interact with the Ethereum blockchain using various wallets and platforms.
Additionally, the transaction could be a part of a larger trend in the cryptocurrency market. As more individuals and institutions adopt blockchain technology, the number of transactions on the Ethereum network is expected to increase. This could lead to higher transaction fees and network congestion, but it also indicates the growing popularity and utility of the platform.
Significance in the Broader Context
ETH 38061611 is not just a single transaction; it represents the broader ecosystem of the Ethereum network. The Ethereum blockchain is a platform that supports a wide range of applications, from decentralized finance (DeFi) to non-fungible tokens (NFTs). The transaction with the hash ETH 38061611 could be related to any of these applications, making it a significant piece of information for those interested in the Ethereum ecosystem.
For instance, the transaction could be part of a DeFi protocol, where users are interacting with smart contracts to lend, borrow, or trade digital assets. Alternatively, it could be related to an NFT project, where digital ownership of unique assets is being transferred. The possibilities are endless, and the transaction hash ETH 38061611 serves as a gateway to understanding the underlying activities on the Ethereum network.
Conclusion
ETH 38061611 is a transaction hash that has sparked interest among cryptocurrency enthusiasts and blockchain developers. By examining its origin, transaction details, implications, and significance in the broader context of the Ethereum network, we gain a deeper understanding of the platform’s capabilities and its role in the evolving digital economy. Whether you are a seasoned blockchain expert or a curious beginner, the information provided in this article should help you appreciate the importance of ETH 38061611 and its place in the world of decentralized finance.