Transactions are created by the network users in order to update the ledger. A transaction is expected to be digitally signed and valid in order for it to be considered as a candidate in the consensus process. Each transaction costs a small amount of XRP, which serves as a protection mechanism against denial of service attacks caused by spamming.
There are different types of transaction in the Ripple network. A single field within the Ripple transaction data structure called TransactionType is used to represent the type of the transaction. Transactions are executed by using a four-step process:
- First, transactions are prepared whereby an unsigned transaction is created by following the standards
- The second step is signing, where ...
