Transaction Lifecycle

Taking a deep dive looking inside a transaction

Transactions are at the heart of the blockchain network. Every transaction that happens on the network modifies the state of the blockchain.

The purpose of the bitcoin protocol was to redefine the methods and ways our lives use the internet by adding the missing link of secure, small, casual, payment infrastructure to it. It additionally provides a system of recording data using a native commodity token system.

This base system can become a central global public timestamping system for all information and data transmission. A transaction can encapsulate all types of interactions.