Fix/refactoring and storage updates

Motivation and Resolution

Check the return value of is_alive call, if ok is false throw error. Add a message if no transactions.

[x] Performed a self-review of the code
[x] Rebased to the last commit of the target branch (or merged it into my branch)
[x] Linked the issues which this PR resolves
[x] Documented the changes in code
[x] Updated the tests
[x] All tests are passing