Understanding transaction isolation levels

Up to now, you have seen how to handle locking as well as some basic concurrency. In this section, you will learn about transaction isolation. To me, this is one of the most neglected topics in modern software development. Only a small fraction of software developers are actually aware of this issue, which in turn leads to disgusting and mind-boggling bugs.

Here is an example of what can happen:

Transaction 1	Transaction 2
BEGIN;
SELECT sum(balance) FROM t_account;
User will see 300	BEGIN;
	INSERT INTO t_account (balance) VALUES (100);
	COMMIT;
SELECT sum(balance) FROM t_account;
User will see 400
COMMIT;

Most users would actually expect the left transaction to always return 300 regardless of the second transaction. However, this is not true. By default, PostgreSQL runs in READ COMMITTED transaction isolation mode. This means...