I couldnt figure out how to get the status of the transactions i.e "Fail with error "001010".
The ability to show error message, or the revert reason. depends on the EVM client (GoEthereum, Erigon, Ganache, Ethereum Tester, etc.) There is no bulletproof "standard".
status that is 0 or 1 (=success)To get the actual error message you need to replay the transaction and a certain block height using a special eth_call JSON-RPC.
Here is a Javascript library for doing it and a related blog post about the topic.