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Plain-language guides to blockchains, fees, wallets and reading transactions, from the team behind ChainMonitor.
Learning path
New to blockchains? Start at step 1 and read in order: each guide builds on the ones before it. The chain guides and the glossary are there whenever you need them.
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Basics
- What is a blockchain? A plain explanationLearn how a blockchain works: blocks, chained hashes, nodes and consensus, why history is hard to change, and what a smart contract is.
- Layer 1, layer 2 and layer 3 explainedWhat L1, L2 and L3 mean, why layer 2 networks exist, how they inherit security from Ethereum, and how the seven chains on ChainMonitor compare.
- Optimistic vs zk rollups explained simplyHow rollups batch transactions and post data to Ethereum, how optimistic and zk rollups differ, why withdrawals take 7 days, and what the sequencer does.
- Crypto wallets, keys and seed phrases explainedUnderstand private keys, addresses and seed phrases, custodial vs self-custodial wallets, why one address works on many chains, and how to avoid common mistakes.
- What are stablecoins and how do they work?Learn what stablecoins are, how fiat-backed, crypto-backed and algorithmic types differ, native vs bridged USDC, and why sending a token costs more gas.
- Crypto bridges and their risks explainedHow blockchain bridges move assets between chains, why optimistic rollup withdrawals take about 7 days, how fast bridges work, and a checklist before bridging.
Chains
- What is Bitcoin and how does it work?A plain guide to Bitcoin: proof of work, 10-minute blocks, UTXOs, sat/vB fees, address types, confirmations and the mempool, with live tools.
- What is Ethereum and how does it work?Ethereum explained simply: proof of stake, 12-second slots, finality, EVM smart contracts, ETH and gwei, EIP-1559 fees, blobs and ERC-20 tokens.
- What is Solana and how does it work?Solana explained simply: 400 ms slots, leaders, proof of history, tiny fees, the accounts model, SPL tokens and the token account deposit.
- What is Polygon and how does it work?Polygon PoS explained: an EVM chain with its own validators that checkpoints to Ethereum, POL as the gas token, cheap fees and what to watch for.
- What is Arbitrum and how does it work?Arbitrum One explained: an optimistic rollup on Ethereum by Offchain Labs, with a sequencer, ETH gas, an L1 data fee and a 7-day withdrawal.
- What is Base and how does it work?Base explained: an Ethereum layer 2 on the OP Stack incubated by Coinbase, with ETH gas, an L1 data fee, a Base-run sequencer and cheap USDC payments.
- What is Optimism (OP Mainnet) and how does it work?Optimism explained: OP Mainnet, the first OP Stack rollup, the Superchain, ETH gas with an L1 data fee, fault proofs and the OP governance token.
Fees
- Gas and transaction fees explainedLearn what gas is, how gwei, the base fee, the priority tip and the max fee work, and why sending a token costs more than sending ETH.
- Why transaction fees differ between chainsWhy the same payment costs cents on one chain and dollars on another: block space, layer 2 data fees, blobs, Solana and Bitcoin, and the gas token price.
- The cheapest way to send USDCWhat decides the cost of sending USDC, how the chains compare, why the receiving chain matters, and a checklist to follow before you send.
- Bitcoin mempool and fees explainedHow the Bitcoin mempool works, why fees are set in sat/vB, how transaction size and address type matter, and how RBF and CPFP can unstick a payment.
- Solana priority fees and compute unitsHow Solana fees work: the 5,000 lamport base fee, compute units, priority fees in micro-lamports, rent for token accounts, and how to read the estimates.
Using the explorer
- How to read a transaction on a block explorerA field-by-field guide to a transaction page: hash, status, fee, gas, nonce, logs and token transfers, plus how Bitcoin and Solana pages differ.
- Finality and confirmations explainedWhat included, confirmed and finalized mean on Bitcoin, Ethereum, Solana and layer 2s, why reorgs happen, and why exchanges wait before crediting deposits.
- What is a public RPC endpoint?What an RPC endpoint is, how wallets use it, public versus paid providers, rate limits, block lag and privacy, and how to add a custom RPC to a wallet.
- How to use ChainMonitor, step by stepA guided tour of ChainMonitor with screenshots. Follow one USDC payment on Base from the search box to the transaction, the sender, the fee and the RPC nodes.
Reference
- Blockchain and crypto glossaryPlain-English definitions of more than 80 blockchain, gas, wallet, rollup and stablecoin terms used on ChainMonitor, with links to the articles that explain them.
- Blockchain and crypto FAQ for beginnersShort, clear answers to 28 common beginner questions about blockchains, fees, transactions, wallets, layer 2 networks and staying safe, with links to deeper guides.