What is the Bitcoin Transaction? | What is the Bitcoin Transaction Process?
A Bitcoin transaction work is a transfer of Bitcoin from one person's Bitcoin wallet to another person's Bitcoin wallet. The transaction is recorded on the public ledger, known as the blockchain, and is grouped together with other transactions in blocks. Each block is added to the blockchain in a linear, chronological order, forming a chain of blocks, hence the name blockchain. A Bitcoin Transaction Includes Several Key Elements Such As Inputs: The address(es) from which the funds are being sent. Outputs: The address(es) to which the funds are being sent. Amount: The amount of Bitcoin being transferred in the transaction. A digital signature: A cryptographic signature that proves the ownership of the inputs and authorizes the transaction. A transaction fee (optional): A small amount of Bitcoin paid to the miner for processing the transaction. Once the transaction is confirmed and added to the blockchain, it becomes irreversible, meaning that the funds cannot be returned o...