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How bitcoin transaction works?

Answers (1)

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.

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