Cryptocurrency Q&A
How does spending Bitcoin work?
How does spending Bitcoin work?
CryptoPioneerGuard
Sun Dec 22 2024
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5 answers
719
I want to understand how spending Bitcoin works. I know it's a digital currency, but how do I actually use it to make purchases or transactions? What are the steps involved in spending Bitcoin?
5 answers
JejuSunshine
Tue Dec 24 2024
A Bitcoin is defined as a series of digital signatures.
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Lorenzo
Tue Dec 24 2024
Each bitcoin transaction involves the current owner transferring ownership to the next by appending a digital signature.
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BlockchainBaronGuard
Tue Dec 24 2024
This digital signature includes a hash of the previous transaction and the public key of the new owner.
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Sara
Mon Dec 23 2024
By adding these elements to the end of the bitcoin, a secure and verifiable chain of ownership is created.
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BitcoinBaron
Mon Dec 23 2024
The payee, or recipient of the bitcoin, can then verify the signatures within this chain to ensure that the transaction is valid.
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