Weird transactions on the blockchain

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haiqu
Posts: 23
Joined: Thu Jan 21, 2016 8:04 am
os: windows

Weird transactions on the blockchain

Post by haiqu » Thu Feb 11, 2016 7:58 am

I've just checked the address I use for NMC transactions at namecha.in and the transactions don't make any sense to me. Address is here:

http://namecha.in/address/N4d34DaDoSgBm ... WazmGo1em4

According to that page I have a balance of 14.819894 NMC but my wallet shows 34.634894 NMC.

The two transactions which zero the account correspond to .bit domain name purchases, which should have been for 0.02 NMC only. Is there anything wrong here, or am I just misreading the data?

cassini
Posts: 336
Joined: Sun May 26, 2013 6:36 pm

Re: Weird transactions on the blockchain

Post by cassini » Thu Feb 11, 2016 10:58 am

Nothing unusual here. The name operations simply sent the missing NMCs to different addresses in your wallet. This is precisely the same effect as in Bitcoin. Example: if you received 1.0 BTC from an exchange and then make a payment of 0.03 BTC, your Bitcoin wallet sends the remaining "small change" of 0.97 BTC to a different address inside the same wallet. However, a small amount is actually "missing": this is the transaction fee and eventually goes to the miner or mining pool that mines the block.

For your example open https://namecoin.webbtc.com/address/N4d ... WazmGo1em4
and look for the line starting with f2137ff...
The "address" column there shows that the name purchase of 0.015 NMC (0.01 cost + 0.005 transaction fee) went to N3gUmq3pXcmZsrrcX7iifECZ3ubCnm2nqg (this is the address were the name was kept waiting for the name_firstupdate operation some 12 blocks later). The remaining 9.86 NMC went to MycMWTXxoR66Gw3cX2Zj2FkoWrZuiYoHe1 which is also an address in your wallet.

The same system applies to your other name purchase accordingly. The small change 9.98 NMC of that operation sits at NEQ1Vm6YDyqwD9p7r43XeqLFA9SNi7XaXj.

(I recommend https://namecoin.webbtc.com as it is a professionally coded open-source block explorer by mhanne.
namecha.in has several bugs and is closed-source.)

haiqu
Posts: 23
Joined: Thu Jan 21, 2016 8:04 am
os: windows

Re: Weird transactions on the blockchain

Post by haiqu » Thu Feb 11, 2016 3:25 pm

Great response, thanks Cassini. It's all making more sense now.

So, in a nutshell, the value in my wallet represents everything unspent in the tree spreading off from that original address. Cool.

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