Ethereum: What is the meaning of “Transaction Not Found” on Blockchain?
As a cryptocurrency investor, it’s natural to wonder what happens when you request for a withdrawal or transaction from your exchange account and the funds are not received in a timely manner. In this article, we’ll break down the concept of “Transaction Not Found” (TNF) on the Ethereum blockchain, including its possible causes and implications.
What is Transaction Not Found?
When you initiate a withdrawal request from your Gemini Exchange account using the MetaMask wallet or other supported wallets, you are essentially sending a transaction to the Ethereum network. This transaction is broadcast to the open market, where it can be seen by other users on the Ethereum blockchain. However, if no one has received the funds within a certain time frame (usually 10 minutes), it’s considered “Transaction Not Found” (TNF).
What does it mean?
In essence, “Transaction Not Found” means that there are no matching transactions on the blockchain that have been confirmed by a miner. In other words, your request is still being processed by the network, but it has not been matched with any existing transaction. This does not necessarily imply that the funds are never going to be received; instead, it’s simply a case of waiting for them to appear in the open market.
Causes of Transaction Not Found:
Several factors can contribute to a “Transaction Not Found” situation:
- Network congestion: As with any blockchain network, high transaction volume can lead to congestion, causing delays.
- Lack of confirmation: If the requested amount is less than $25 (the Gemini minimum withdrawal amount) or if it is a small transaction, you may not receive immediate confirmation from the network.
- Missing funds in mempool: The “mempool” is the list of pending transactions on the blockchain. If your request is part of this list but does not have enough confirmations to move forward, it will be marked as TNF.
Possible Outcomes:
In most cases, if you are waiting four days for a withdrawal from Gemini and still have not received Bitcoin at BITTREX receiving exchange, the following outcomes are possible:
- No funds: It is likely that the transaction has been processed and confirmed by miners, but it has not been matched with any existing transactions yet.
- Unconfirmed or pending: In some cases, your request may still be in the mempool, awaiting further confirmation to move forward.
Mitigating Factors:
To reduce the likelihood of experiencing an “Transaction Not Found” issue:
- Wait for a reasonable timeframe: Wait at least 10 minutes before checking if your withdrawal has been processed.
- Check your transaction history: Review your recent transaction activity on the Gemini platform to ensure you’re not missing any confirmations.
- Monitor blockchain activity: Keep an eye on the mempool and network activity to catch any potential issues early.
Conclusion:
In conclusion, “Transaction Not Found” is a normal phenomenon that can occur due to various factors such as high transaction volume, lack of confirmation, or congestion on the Ethereum blockchain. While it may seem frustrating to wait four days for your withdrawal from Gemini, there are steps you can take to mitigate this issue and ensure your funds arrive at BITTREX receiving exchange in a timely manner.
Additional Resources:
For more information on Ethereum transactions and blockchain operations, consider exploring the following resources:
- Ethereum’s official documentation: <
- Gemini Exchange’s support page: <
- Bittrex’s support page: <