"text is PostgreSQL's native string data type, in that most built-in functions operating on strings are declared to take or return text not character varying. For many purposes, character varying acts as though it were a domain over text."
As to performance see:
" Tip
There is no performance difference among these three types, apart from increased storage space when using the blank-padded type, and a few extra CPU cycles to check the length when storing into a length-constrained column. While character(n) has performance advantages in some other database systems, there is no such advantage in PostgreSQL; in fact character(n) is usually the slowest of the three because of its additional storage costs. In most situations text or character varying should be used instead. "
Thank you. I was looking into those casting(::text) in the explain plan output in similar way (as it was happening for int8 to numeric join scenario) and was thinking, may be it's spending some cpu cycles on doing these ::text casting behind the scenes for that column and if there is someway(data type change) to stop those. But from your explanation, it looks like those representation in the query plan is normal and have no performance overhead as such. Thanks again.
In regards to the below, "nested loop" having response time of 100ms. I understand, here the casting function us now removed after changing the data type of columns to match in both side of the join.
So, is this expected to do a nested loop on 500k rows to take 100ms?
In this case, I would run SELECT * FROM limited_txns, to get a base EXPLAIN, then strip out all WHERE clauses, the ORDER BY and the LIMIT then run it again for another EXPLAIN.
Then add back lines 33-34 and EXPLAIN. Then line 7, etc, etc saving each EXPLAIN. See what makes it break.