How Blockchain Transaction Works?
Blockchains are so secure. Once the data has been recorded, it will not be changed and it will store permanently. The block is completed each time, a new block is generated. We will learn how a Blockchain transaction works in a step-by-step process.
How Blockchain Transaction Works?
- First Step: User Request for the transaction. The transaction can be in the form of cryptocurrency, contracts, records, or other information.
—In this case, User A sends money to B User - The request is transmitted to the network of peer to peer with the help of nodes and scattered across the world
—The request is transmitted to every node in the network. - The network of nodes to conform validates the transaction and the user’s status with the help of known algorithms or if the transaction is not valid then it is kicked out.
—In this case, your transaction is check for valid or not valid - When the transaction is valid then it is stored in a current block of transaction.
—-In this case your transaction is added in the block - The new block of the transaction is then ‘chained’ to the older block of transaction that is permanent.
—‘Chained’ to the older block of transaction - After complete this whole process then we can say that transaction is confirmed.
—-The Money move from User A to User B
We learned how blockchain technology works. in this case, we are learn about the process of transaction in Blockchain.