In this episode of Be[in]Crypto’s Video News Show, host Juliet Lima goes into detail about what exactly happens during a Bitcoin transaction.
At its most basic level, a Bitcoin transaction is simply a transfer of value between two wallets. This transfer that occurs is recorded on the Bitcoin blockchain. To send money from a bitcoin wallet, the sender must “sign” the transaction with his or her private key, which represents proof of ownership of funds.
Essential components
There are three main parts to any Bitcoin transaction. First, an input, which can be through of as the record of the sender’s address. Next, an amount, that being the specific amount of Bitcoin being sent over the network. And finally, an output, or the wallet address where the Bitcoin is being sent, also known as the public key.
When first trying to send Bitcoin, it is important to have the public key, which hashed serves as the address of the wallet holding the Bitcoin, and the private key associated with the...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...