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Learning Bitcoin by Richard Caetano

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Transactions and confirmations

The Bitcoin network is essentially a public ledger that's able to record and validate millions of transactions. Transactions validated by the network are irreversible and impossible to change or alter. In this section, we're going to look at two core aspects of the network: transactions and confirmations.

Transactions

A Bitcoin transaction is a record of a transfer between two or more bitcoin addresses. Similar to a credit or debit on your bank statement, the transaction records the sender, the receiver, and a date/time stamp.

All Bitcoin transactions are publicly accessible. However, the user's identify is never stored. Similar to a Swiss Bank account, only their public addresses are recorded. This makes it difficult ...

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