Transactions are used to perform transitions between different states. For example, the state object shown in the preceding diagram is created as a result of a transaction. Corda uses a Bitcoin-style UTXO-based model for its transaction processing. The concept of state transition by transactions is same as in Bitcoin. Similar to Bitcoin, transactions can have none, single, or multiple inputs, and single or multiple outputs. All transactions are digitally signed.
Moreover, Corda has no concept of mining because it does not use blocks to arrange transactions in a blockchain. Instead, notary services are used in order to provide temporal ordering of transactions. In Corda, new transaction types can be developed using JVM bytecode, ...
