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bitcoin $87959.907984 USD
1.34% - ethereum
$2920.497338 USD
3.04% - tether
$0.999775 USD
0.00% - xrp
$2.237324 USD
8.12% - bnb
$860.243768 USD
0.90% - solana
$138.089498 USD
5.43% - usd-coin
$0.999807 USD
0.01% - tron
$0.272801 USD
-1.53% - dogecoin
$0.150904 USD
2.96% - cardano
$0.421635 USD
1.97% - hyperliquid
$32.152445 USD
2.23% - bitcoin-cash
$533.301069 USD
-1.94% - chainlink
$12.953417 USD
2.68% - unus-sed-leo
$9.535951 USD
0.73% - zcash
$521.483386 USD
-2.87%
how bitcoin core works
The Bitcoin Core software initializes by creating a local blockchain copy, storing a record of all Bitcoin transactions.
Oct 09, 2024 at 08:11 pm
- Initialization
- The Bitcoin Core software is downloaded and installed on a computer.
- The software creates a local copy of the blockchain, which is a record of all Bitcoin transactions.
- Wallet creation
- A user creates a Bitcoin wallet.
- The wallet generates a public address and a private key.
- Transaction creation
- A user wants to send Bitcoin to another user.
- The user creates a transaction, which includes the amount of Bitcoin to be sent, the recipient's public address, and the user's signature.
- Transaction broadcasting
- The user broadcasts the transaction to the Bitcoin network.
- The transaction is picked up by other nodes on the network and relayed to all other nodes.
- Transaction verification
- Nodes on the network verify the transaction.
- They check that the transaction is valid, that the sender has enough Bitcoin, and that the signature is correct.
- Transaction confirmation
- If the transaction is valid, it is added to the blockchain.
- The transaction is now confirmed and cannot be reversed.
- Transaction completion
- Once the transaction is added to the blockchain, it is complete.
- The recipient can now spend the Bitcoin.
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