diff --git a/apps/block_scout_web/assets/js/app.js b/apps/block_scout_web/assets/js/app.js
index f00b84c17c..e01a7fcd7f 100644
--- a/apps/block_scout_web/assets/js/app.js
+++ b/apps/block_scout_web/assets/js/app.js
@@ -46,6 +46,7 @@ import './lib/stop_propagation'
 import './lib/token_balance_dropdown'
 import './lib/token_balance_dropdown_search'
 import './lib/token_transfers_toggle'
+import './lib/transaction_input_dropdown'
 import './lib/async_listing_load'
 import './lib/tooltip'
 import './lib/try_api'
diff --git a/apps/block_scout_web/assets/js/lib/transaction_input_dropdown.js b/apps/block_scout_web/assets/js/lib/transaction_input_dropdown.js
new file mode 100644
index 0000000000..2c8d21d7a4
--- /dev/null
+++ b/apps/block_scout_web/assets/js/lib/transaction_input_dropdown.js
@@ -0,0 +1,10 @@
+import $ from 'jquery'
+
+$('.tx-input-dropdown').click(function (e) {
+  var el = $(e.currentTarget)
+  var target = $(el.attr('data-target'))
+
+  target.show()
+  target.siblings('.transaction-input').hide()
+  $('#tx-input-decoding-button').text(el.text())
+})
diff --git a/apps/block_scout_web/lib/block_scout_web/templates/transaction/overview.html.eex b/apps/block_scout_web/lib/block_scout_web/templates/transaction/overview.html.eex
index a22dabc755..9acb212994 100644
--- a/apps/block_scout_web/lib/block_scout_web/templates/transaction/overview.html.eex
+++ b/apps/block_scout_web/lib/block_scout_web/templates/transaction/overview.html.eex
@@ -93,15 +93,37 @@
           <dl class="row">
             <dt class="col-sm-3 text-muted"><%= gettext "Raw Input" %></dt>
             <dd class="col-sm-9">
-              <div class="raw-transaction-input">
+              <div class="transaction-input" id="tx-raw-input">
                 <button type="button" class="copy icon-link mb-1" data-toggle="tooltip" data-placement="top" data-clipboard-text="<%= @transaction.input %>" aria-label="Copy Value">
                   <i class="fas fa-clone"></i>
                 </button>
+                <div class="tile tile-muted">
+                  <pre class="pre-scrollable pre-scrollable-shorty pre-wrap mb-0"><code><%= @transaction.input %></code></pre>
+                </div>
+              </div>
 
+              <div class="transaction-input" id="tx-utf8-input" style="display: none;">
+                <button type="button" class="copy icon-link mb-1" data-toggle="tooltip" data-placement="top" data-clipboard-text="<%= @transaction.input %>" aria-label="Copy Value">
+                  <i class="fas fa-clone"></i>
+                </button>
                 <div class="tile tile-muted">
-                  <pre class="pre-scrollable pre-scrollable-shorty pre-wrap mb-0">
-                    <code><%= @transaction.input %></code>
-                  </pre>
+                  <pre class="pre-scrollable pre-scrollable-shorty pre-wrap mb-0"><code><%= @transaction.input.bytes %></code></pre>
+                </div>
+              </div>
+
+              <div class="dropdown pt-1">
+                <button class="btn btn-secondary btn-sm dropdown-toggle" type="button" id="tx-input-decoding-button" data-toggle="dropdown" aria-haspopup="true" aria-expanded="false">
+                  <%= gettext("Hex (Default)") %>
+                </button>
+
+                <div class="dropdown-menu" aria-labelledby="transaction-input-decoding-button">
+                  <a class="dropdown-item tx-input-dropdown" data-target="#tx-raw-input" id="tx-dropdown-raw">
+                    <%= gettext("Hex (Default)") %>
+                  </a>
+
+                  <a class="dropdown-item tx-input-dropdown" data-target="#tx-utf8-input" id="tx-dropdown-utf8">
+                    <%= gettext("UTF-8") %>
+                  </a>
                 </div>
               </div>
             </dd>
diff --git a/apps/block_scout_web/lib/block_scout_web/views/transaction_view.ex b/apps/block_scout_web/lib/block_scout_web/views/transaction_view.ex
index dd9a988b83..14a20481b8 100644
--- a/apps/block_scout_web/lib/block_scout_web/views/transaction_view.ex
+++ b/apps/block_scout_web/lib/block_scout_web/views/transaction_view.ex
@@ -91,6 +91,9 @@ defmodule BlockScoutWeb.TransactionView do
 
   def contract_creation?(_), do: false
 
+  #  def utf8_encode() do
+  #  end
+
   def fee(%Transaction{} = transaction) do
     {_, value} = Chain.fee(transaction, :wei)
     value
diff --git a/apps/block_scout_web/priv/gettext/default.pot b/apps/block_scout_web/priv/gettext/default.pot
index 114e00bf53..ae553639bc 100644
--- a/apps/block_scout_web/priv/gettext/default.pot
+++ b/apps/block_scout_web/priv/gettext/default.pot
@@ -49,7 +49,7 @@ msgid "%{subnetwork} Explorer - BlockScout"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/views/transaction_view.ex:118
+#: lib/block_scout_web/views/transaction_view.ex:121
 msgid "(Awaiting internal transactions for status)"
 msgstr ""
 
@@ -278,12 +278,12 @@ msgid "Contract Address Pending"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/views/transaction_view.ex:195
+#: lib/block_scout_web/views/transaction_view.ex:198
 msgid "Contract Call"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/views/transaction_view.ex:194
+#: lib/block_scout_web/views/transaction_view.ex:197
 msgid "Contract Creation"
 msgstr ""
 
@@ -377,12 +377,12 @@ msgid "Error trying to fetch balances."
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/views/transaction_view.ex:122
+#: lib/block_scout_web/views/transaction_view.ex:125
 msgid "Error: %{reason}"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/views/transaction_view.ex:120
+#: lib/block_scout_web/views/transaction_view.ex:123
 msgid "Error: (Awaiting internal transactions for reason)"
 msgstr ""
 
@@ -392,7 +392,7 @@ msgstr ""
 #: lib/block_scout_web/templates/layout/app.html.eex:51
 #: lib/block_scout_web/templates/transaction/_pending_tile.html.eex:19
 #: lib/block_scout_web/templates/transaction/_tile.html.eex:26
-#: lib/block_scout_web/templates/transaction/overview.html.eex:118
+#: lib/block_scout_web/templates/transaction/overview.html.eex:140
 #: lib/block_scout_web/views/wei_helpers.ex:72
 msgid "Ether"
 msgstr ""
@@ -431,7 +431,7 @@ msgid "GET"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/templates/transaction/overview.html.eex:131
+#: lib/block_scout_web/templates/transaction/overview.html.eex:153
 msgid "Gas"
 msgstr ""
 
@@ -495,7 +495,7 @@ msgstr ""
 #: lib/block_scout_web/templates/transaction/_tabs.html.eex:43
 #: lib/block_scout_web/templates/transaction_internal_transaction/index.html.eex:10
 #: lib/block_scout_web/views/address_view.ex:270
-#: lib/block_scout_web/views/transaction_view.ex:248
+#: lib/block_scout_web/views/transaction_view.ex:251
 msgid "Internal Transactions"
 msgstr ""
 
@@ -513,7 +513,7 @@ msgid "Less than"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/templates/transaction/overview.html.eex:143
+#: lib/block_scout_web/templates/transaction/overview.html.eex:165
 msgid "Limit"
 msgstr ""
 
@@ -521,7 +521,7 @@ msgstr ""
 #: lib/block_scout_web/templates/transaction/_tabs.html.eex:21
 #: lib/block_scout_web/templates/transaction/_tabs.html.eex:48
 #: lib/block_scout_web/templates/transaction_log/index.html.eex:10
-#: lib/block_scout_web/views/transaction_view.ex:249
+#: lib/block_scout_web/views/transaction_view.ex:252
 msgid "Logs"
 msgstr ""
 
@@ -533,7 +533,7 @@ msgid "Market Cap"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/views/transaction_view.ex:109
+#: lib/block_scout_web/views/transaction_view.ex:112
 msgid "Max of"
 msgstr ""
 
@@ -662,8 +662,8 @@ msgstr ""
 #, elixir-format
 #: lib/block_scout_web/templates/layout/_topnav.html.eex:44
 #: lib/block_scout_web/templates/transaction/overview.html.eex:55
-#: lib/block_scout_web/views/transaction_view.ex:117
-#: lib/block_scout_web/views/transaction_view.ex:151
+#: lib/block_scout_web/views/transaction_view.ex:120
+#: lib/block_scout_web/views/transaction_view.ex:154
 msgid "Pending"
 msgstr ""
 
@@ -768,7 +768,7 @@ msgstr ""
 
 #, elixir-format
 #: lib/block_scout_web/templates/transaction/_emission_reward_tile.html.eex:8
-#: lib/block_scout_web/views/transaction_view.ex:119
+#: lib/block_scout_web/views/transaction_view.ex:122
 msgid "Success"
 msgstr ""
 
@@ -879,7 +879,7 @@ msgstr ""
 #, elixir-format
 #: lib/block_scout_web/templates/tokens/transfer/_token_transfer.html.eex:4
 #: lib/block_scout_web/templates/transaction_token_transfer/_token_transfer.html.eex:4
-#: lib/block_scout_web/views/transaction_view.ex:193
+#: lib/block_scout_web/views/transaction_view.ex:196
 msgid "Token Transfer"
 msgstr ""
 
@@ -891,7 +891,7 @@ msgstr ""
 #: lib/block_scout_web/templates/transaction/_tabs.html.eex:36
 #: lib/block_scout_web/templates/transaction_token_transfer/index.html.eex:10
 #: lib/block_scout_web/views/tokens/overview_view.ex:35
-#: lib/block_scout_web/views/transaction_view.ex:247
+#: lib/block_scout_web/views/transaction_view.ex:250
 msgid "Token Transfers"
 msgstr ""
 
@@ -932,7 +932,7 @@ msgid "Total transactions"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/views/transaction_view.ex:196
+#: lib/block_scout_web/views/transaction_view.ex:199
 msgid "Transaction"
 msgstr ""
 
@@ -999,7 +999,7 @@ msgid "Unique Token"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/templates/transaction/overview.html.eex:136
+#: lib/block_scout_web/templates/transaction/overview.html.eex:158
 msgid "Used"
 msgstr ""
 
@@ -1020,7 +1020,7 @@ msgid "Validations"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/templates/transaction/overview.html.eex:118
+#: lib/block_scout_web/templates/transaction/overview.html.eex:140
 msgid "Value"
 msgstr ""
 
@@ -1642,3 +1642,14 @@ msgstr ""
 #: lib/block_scout_web/templates/transaction/overview.html.eex:85
 msgid "Transaction Speed"
 msgstr ""
+
+#, elixir-format
+#: lib/block_scout_web/templates/transaction/overview.html.eex:116
+#: lib/block_scout_web/templates/transaction/overview.html.eex:121
+msgid "Hex (Default)"
+msgstr ""
+
+#, elixir-format
+#: lib/block_scout_web/templates/transaction/overview.html.eex:125
+msgid "UTF-8"
+msgstr ""
diff --git a/apps/block_scout_web/priv/gettext/en/LC_MESSAGES/default.po b/apps/block_scout_web/priv/gettext/en/LC_MESSAGES/default.po
index d010200547..31ed957db2 100644
--- a/apps/block_scout_web/priv/gettext/en/LC_MESSAGES/default.po
+++ b/apps/block_scout_web/priv/gettext/en/LC_MESSAGES/default.po
@@ -49,7 +49,7 @@ msgid "%{subnetwork} Explorer - BlockScout"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/views/transaction_view.ex:118
+#: lib/block_scout_web/views/transaction_view.ex:121
 msgid "(Awaiting internal transactions for status)"
 msgstr ""
 
@@ -278,12 +278,12 @@ msgid "Contract Address Pending"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/views/transaction_view.ex:195
+#: lib/block_scout_web/views/transaction_view.ex:198
 msgid "Contract Call"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/views/transaction_view.ex:194
+#: lib/block_scout_web/views/transaction_view.ex:197
 msgid "Contract Creation"
 msgstr ""
 
@@ -377,12 +377,12 @@ msgid "Error trying to fetch balances."
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/views/transaction_view.ex:122
+#: lib/block_scout_web/views/transaction_view.ex:125
 msgid "Error: %{reason}"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/views/transaction_view.ex:120
+#: lib/block_scout_web/views/transaction_view.ex:123
 msgid "Error: (Awaiting internal transactions for reason)"
 msgstr ""
 
@@ -392,7 +392,7 @@ msgstr ""
 #: lib/block_scout_web/templates/layout/app.html.eex:51
 #: lib/block_scout_web/templates/transaction/_pending_tile.html.eex:19
 #: lib/block_scout_web/templates/transaction/_tile.html.eex:26
-#: lib/block_scout_web/templates/transaction/overview.html.eex:118
+#: lib/block_scout_web/templates/transaction/overview.html.eex:140
 #: lib/block_scout_web/views/wei_helpers.ex:72
 msgid "Ether"
 msgstr "POA"
@@ -431,7 +431,7 @@ msgid "GET"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/templates/transaction/overview.html.eex:131
+#: lib/block_scout_web/templates/transaction/overview.html.eex:153
 msgid "Gas"
 msgstr ""
 
@@ -495,7 +495,7 @@ msgstr ""
 #: lib/block_scout_web/templates/transaction/_tabs.html.eex:43
 #: lib/block_scout_web/templates/transaction_internal_transaction/index.html.eex:10
 #: lib/block_scout_web/views/address_view.ex:270
-#: lib/block_scout_web/views/transaction_view.ex:248
+#: lib/block_scout_web/views/transaction_view.ex:251
 msgid "Internal Transactions"
 msgstr ""
 
@@ -513,7 +513,7 @@ msgid "Less than"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/templates/transaction/overview.html.eex:143
+#: lib/block_scout_web/templates/transaction/overview.html.eex:165
 msgid "Limit"
 msgstr ""
 
@@ -521,7 +521,7 @@ msgstr ""
 #: lib/block_scout_web/templates/transaction/_tabs.html.eex:21
 #: lib/block_scout_web/templates/transaction/_tabs.html.eex:48
 #: lib/block_scout_web/templates/transaction_log/index.html.eex:10
-#: lib/block_scout_web/views/transaction_view.ex:249
+#: lib/block_scout_web/views/transaction_view.ex:252
 msgid "Logs"
 msgstr ""
 
@@ -533,7 +533,7 @@ msgid "Market Cap"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/views/transaction_view.ex:109
+#: lib/block_scout_web/views/transaction_view.ex:112
 msgid "Max of"
 msgstr ""
 
@@ -662,8 +662,8 @@ msgstr ""
 #, elixir-format
 #: lib/block_scout_web/templates/layout/_topnav.html.eex:44
 #: lib/block_scout_web/templates/transaction/overview.html.eex:55
-#: lib/block_scout_web/views/transaction_view.ex:117
-#: lib/block_scout_web/views/transaction_view.ex:151
+#: lib/block_scout_web/views/transaction_view.ex:120
+#: lib/block_scout_web/views/transaction_view.ex:154
 msgid "Pending"
 msgstr ""
 
@@ -768,7 +768,7 @@ msgstr ""
 
 #, elixir-format
 #: lib/block_scout_web/templates/transaction/_emission_reward_tile.html.eex:8
-#: lib/block_scout_web/views/transaction_view.ex:119
+#: lib/block_scout_web/views/transaction_view.ex:122
 msgid "Success"
 msgstr ""
 
@@ -879,7 +879,7 @@ msgstr ""
 #, elixir-format
 #: lib/block_scout_web/templates/tokens/transfer/_token_transfer.html.eex:4
 #: lib/block_scout_web/templates/transaction_token_transfer/_token_transfer.html.eex:4
-#: lib/block_scout_web/views/transaction_view.ex:193
+#: lib/block_scout_web/views/transaction_view.ex:196
 msgid "Token Transfer"
 msgstr ""
 
@@ -891,7 +891,7 @@ msgstr ""
 #: lib/block_scout_web/templates/transaction/_tabs.html.eex:36
 #: lib/block_scout_web/templates/transaction_token_transfer/index.html.eex:10
 #: lib/block_scout_web/views/tokens/overview_view.ex:35
-#: lib/block_scout_web/views/transaction_view.ex:247
+#: lib/block_scout_web/views/transaction_view.ex:250
 msgid "Token Transfers"
 msgstr ""
 
@@ -932,7 +932,7 @@ msgid "Total transactions"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/views/transaction_view.ex:196
+#: lib/block_scout_web/views/transaction_view.ex:199
 msgid "Transaction"
 msgstr ""
 
@@ -999,7 +999,7 @@ msgid "Unique Token"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/templates/transaction/overview.html.eex:136
+#: lib/block_scout_web/templates/transaction/overview.html.eex:158
 msgid "Used"
 msgstr ""
 
@@ -1020,7 +1020,7 @@ msgid "Validations"
 msgstr ""
 
 #, elixir-format
-#: lib/block_scout_web/templates/transaction/overview.html.eex:118
+#: lib/block_scout_web/templates/transaction/overview.html.eex:140
 msgid "Value"
 msgstr ""
 
@@ -1638,7 +1638,18 @@ msgstr ""
 msgid "Transactions Sent"
 msgstr ""
 
-#, elixir-format, fuzzy
+#, elixir-format
 #: lib/block_scout_web/templates/transaction/overview.html.eex:85
 msgid "Transaction Speed"
 msgstr ""
+
+#, elixir-format
+#: lib/block_scout_web/templates/transaction/overview.html.eex:116
+#: lib/block_scout_web/templates/transaction/overview.html.eex:121
+msgid "Hex (Default)"
+msgstr ""
+
+#, elixir-format
+#: lib/block_scout_web/templates/transaction/overview.html.eex:125
+msgid "UTF-8"
+msgstr ""