Experiencing a failed transaction on the Cardano blockchain can be confusing. This article focuses on understanding why transactions sometimes fail after they have been submitted to the blockchain and how to interpret and address such issues.
Common Causes of Failed Transactions on the Blockchain
Network Congestion:
During periods of high network activity, transactions may take longer to process or fail altogether if they are not confirmed in time. This is especially common when the blockchain experiences a spike in demand.
Transaction Conflicts:
Transactions that attempt to modify the same UTXOs (Unspent Transaction Outputs) as another transaction in the mempool may fail if the conflicting transaction is confirmed first.
Invalid Transaction Construction:
A transaction that has been incorrectly constructed, such as referencing inputs or outputs that are no longer valid, may fail after submission to the blockchain.
Insufficient Collateral for Smart Contracts:
If a transaction involves a smart contract and the wallet does not have enough collateral set, the transaction may fail during script execution.
How to Identify a Failed Transaction
You can identify a failed transaction by checking its status:
On JPG Store:
Navigate to your Profile, Collection, or Asset Activity section to view transaction statuses. A failed transaction will be labelled as "Failed."On CardanoScan:
Use a blockchain explorer like CardanoScan to check the transaction ID. A failed transaction will typically include an error message or reason for failure.
How to Address Failed Transactions on the Blockchain
Monitor Network Activity:
If the network is congested, consider resubmitting the transaction during off-peak hours when demand is lower.Check Collateral Settings:
If the transaction involves a smart contract, ensure your wallet has sufficient collateral set to meet the contract requirements.Retry the Transaction:
Rebuild the transaction using your wallet's tools and resubmit it. Ensure all parameters are accurate and up-to-date.
Preventative Measures
Stay Informed:
Regularly check the status of the Cardano network to plan your transactions effectively.Use Reputable Tools:
Use wallets and platforms that are fully compatible with Cardano and regularly updated to the latest versions.Submit Small Test Transactions:
When interacting with new features or smart contracts, start with a small transaction to verify functionality before committing larger amounts.
What’s Next?
By understanding the reasons behind failed transactions on the blockchain and taking preventative measures, you can minimize disruptions and enhance your experience on the Cardano network.
