Both and automatically check your previous transactions to make sure you have enough bitcoins to send

Computers and Technology

2 answers:

Colt1911 [192]3 years ago

7 0

<h2>Hello!</h2>

The answer is: Both Wallet and Bitcoin network nodes automatically check your previous transactions to make sure you have enough bitcoins to send

There are two ways of balance checking on the Bitcoin Blockchain, for each transaction there is a "link", this link is unique and it's related to an incoming transaction between wallets, these links are called "inputs".

Node's role is to verify that each input is still useful or have not been spent before yet. Every time an input is used in a transaction, it becomes invalid to future transactions. All this process is performed in the Bitcoin Wallet and then, checked again by the bitcoin network nodes.

Have a nice day!

Klio2033 [76]3 years ago

7 0

Both wallet and bitcoin network nodes automatically check your previous transactions to make sure you have enough bitcoins to send.

Further Explanation:

Bitcoin: Bitcoin is a cryptocurrency which is created in 2009 by Satoshi Nakamoto. Block chain contains several nodes for transaction. Each node consist a copy of the ledger in bitcoin. For sending a bitcoin to other person, the sender has to generate a transaction which includes link of incoming transaction. The created link for incoming transaction should be unique and between the wallets of sender and receiver. These links are known as input. The role of node is to verify that each link is unique and should not be used earlier. If the link is not unique then it is not valid for future transaction.

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Answer details:

Grade: Computer Engineering
Subject: Cryptography
Chapter: Bitcoin Blockchain

Keyword:

Cryptography, bitcoin, block chain, digital currency, cryptocurrency, wallet, network, nodes, previous, transaction, sender, receiver, link, unique, copy, ledger, Satoshi Nakamoto

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