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Bitcoin $97,316.4160
3.80% - Ethereum
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0.00% - Dogecoin
$0.1822
7.50% - Cardano
$0.7057
4.42% - TRON
$0.2475
1.04% - Sui
$3.7209
9.67% - Chainlink
$14.9549
6.42% - Avalanche
$21.4937
3.52% - Stellar
$0.2793
3.28% - UNUS SED LEO
$8.9529
-1.15% - Shiba Inu
$0.0...01369
4.77% - Hedera
$0.1908
5.59% - Toncoin
$3.2269
2.47% - Bitcoin Cash
$366.8906
1.34% - Litecoin
$89.2658
7.88% - Hyperliquid
$20.2522
11.31% - Polkadot
$4.1892
3.40% - Dai
$0.9999
-0.01% - Bitget Token
$4.4028
1.95% - Monero
$275.2715
1.53% - Ethena USDe
$1.0005
0.10% - Pi
$0.6109
6.54% - Pepe
$0.0...08909
3.04% - Aptos
$5.5623
5.72% - Uniswap
$5.3763
3.80%
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
How Bitcoin Core Works
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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