Transaction Types and Fees
Ordinary transactions have one sender and one recipient.
To issue an ordinary transaction, enter the following details:
- Recipient Account
- Transaction Fee
- Plain Text Message
- Encrypted Message
To send the transaction, clicking on the “Send BURST” button.
Users can issue an ordinary transaction with a number of advanced options, which enable the conditional execution of the transaction and offline transaction signing.
- Deadline sets the duration of transaction validity if it remains unconfirmed. The default and maximum allowed deadline is 24 hours. In case the transaction isn’t confirmed within the configured deadline, it will be deleted from the mempool of the blockchain. In case the transaction expires in such a way, users will have to issue the transaction again in order to execute it.
- Referenced transaction hash represents a condition that has to be met before the transaction that is being issued can be confirmed. This mechanism works as follows: a transaction with hash txhash1 has been issued. The user is currently creating transaction tx2. If the txhash1 is provided as the “References Transaction Hash”, transaction tx2 will be executed only after the transaction with txhash1 has been confirmed.
- The “Do Not Broadcast” option prevents the signed unconfirmed transaction to be broadcast to the network. Once the transaction has been signed offline, the user can broadcast it at a later time. When the “Do Not Broadcast” option is checked, the user can see the raw transaction details, as shown in the image below:
To broadcast the signed transaction later, the user has to save the raw transaction details in a separate file. – “Add Note to Self?” – this option will allow the entry of an encrypted note for the transaction.
Broadcast offline signed transactions
To broadcast a transaction that has been previously signed offline, users should access “Transaction Operations”.
The “Advanced Transaction Operations” then allows for the signed transaction bytes to be broadcast to the network:
Multi-out transactions allow the sender to send Burst to up to 64 unique recipient accounts as a single transaction i.e. with considerably lower fee compared to sending the same amount through 64 ordinary transactions.
Same as with ordinary transactions, multi-out transactions can be issued through local or web Burst wallets.
In case the amount to be sent is same for all recipients, the “Same amount” option should be checked. The number of recipients in Multi-out Same transactions can be up to 128.
Multi-out Transactions Lookup – Multi-out Reverse
Due to design optimizations, recipients of Multi-out and Multi-out Same transactions are able to see the correct account balance in their wallets, but the details of Multi-out and Multi-out Same transactions (the sender) is not shown in the wallet.
To see the details of the Multi-out transactions, recipients should use the block explorer, available at https://explore.burst.cryptoguru.org/, insert their Burst account into the search box and access the “Multiout Reverse” tab, where all Multi-out transaction details are shown:
Unconfirmed transactions can be issued with arbitrary fees, with the lowest possible fee being 735.000 Plancks (0.00735000 Burst). Depending on the fee amount, unconfirmed transactions will be execute sooner or later i.e. they will be picked up into a block on the Burst blockchain.
The Burst Reference Software (BRS aka wallet) is equipped with a fee suggestion tool, which suggests the amount of fee to be used for transaction, based on the transaction load on the chain in the last 10 blocks. The fee suggestion tool offers three fee amounts:
- Standard: 50% probability the transaction will be included in the next block
- Cheap: 50% probability the transaction will be included in the next 10 blocks
- Priority: 90% probability the transaction will be included in the next block, 99% probability the transaction will be included in the next two blocks.
The fee suggestion tool can also be used using The Burst API.