logo logo

WWCrypto provides analysis of the crypto market. In addition to tracking updates in the industry. WWCrypto provides the community with real time information and major events.

WWCrypto

Digital Membership

Get unlimited insight reports trusted by experts around the globe. Become a Member Today!

View pricing plans

London, UK (HQ)

[email protected]
ADVERTISEMENT

Question

How bitcoin transaction works?


Answers (1)

avatar
Arsalan Afzal
Feb 24, 2022 06:32:36

A bitcoin transaction works like this: 1. A bitcoin user sends a message to the network that they would like to make a payment. 2. The message is broadcast to a group of bitcoin nodes known as miners. 3. Miners use their computational power to solve a complex mathematical problem associated with the payment. 4. The first miner to solve the problem is rewarded with new bitcoins, and their solved problem is also included in the next block of transactions (i.e., the block that confirms the payment). 5. The solved problem is then added to a long list of previous problems, which forms the blockchain — essentially a digital ledger of all completed bitcoin transactions.

Top Answer

Answer

You must be logged in to post a answer. Login