So transaction processing is lumped into mining.... but im still confused as to how confirmations tie into it. Does the first one to process a transaction get the fee?, or it it divided up among alot of people?
Topic: Transactions and confirmations... (Read 533 times)
Thanks
So transaction processing is lumped into mining.... but im still confused as to how confirmations tie into it. Does the first one to process a transaction get the fee?, or it it divided up among alot of people?
So transaction processing is lumped into mining.... but im still confused as to how confirmations tie into it. Does the first one to process a transaction get the fee?, or it it divided up among alot of people?
https://en.bitcoin.it/wiki/Transaction_fees
Well, his noodly appendages are omnipresent.
flying spaghetti monster?
Well, his noodly appendages are omnipresent.
Im wondering how confirmations are done on transactions.
What I know.
I know that for newly generated coins, a certain number of blocks must be processed before the coins are considered valid.
I know that newly generated blocks also payout transaction fees.
I know that a transaction requires a certain number of confirmations before being considered valid.
I know that transaction fees are supposed to give your transaction priority and help it get confirmed faster.
What I don't know.
Who confirms the transaction, miners?, other clients?, flying spaghetti monster?
And by what process are transaction confirmed?
What I know.
I know that for newly generated coins, a certain number of blocks must be processed before the coins are considered valid.
I know that newly generated blocks also payout transaction fees.
I know that a transaction requires a certain number of confirmations before being considered valid.
I know that transaction fees are supposed to give your transaction priority and help it get confirmed faster.
What I don't know.
Who confirms the transaction, miners?, other clients?, flying spaghetti monster?
And by what process are transaction confirmed?
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