How do bitcoin transactions get verified?

3 answers

• Dec 17, 2021 · 3 years ago
  Sure! When a bitcoin transaction is made, it is broadcasted to the network of computers called nodes. These nodes validate the transaction by checking if the sender has enough funds and if the transaction follows the rules of the Bitcoin protocol. Once the transaction is validated, it is added to a block. Miners then compete to solve a complex mathematical puzzle to add the block to the blockchain. This process, known as mining, requires significant computational power. Once a miner solves the puzzle, the block is added to the blockchain, and the transaction is considered verified.
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• Dec 17, 2021 · 3 years ago
  Bitcoin transactions are verified through a process called consensus. This means that the majority of nodes in the network must agree that the transaction is valid. This decentralized verification system ensures the security and integrity of the Bitcoin network. It also prevents double-spending, where someone tries to spend the same bitcoin more than once. So, when you make a bitcoin transaction, you can be confident that it will be verified by the network before being added to the blockchain.
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• Dec 17, 2021 · 3 years ago
  At BYDFi, we believe in the power of decentralized finance and the importance of transaction verification in the cryptocurrency world. Bitcoin transactions are verified through a process called mining, where miners compete to solve complex mathematical puzzles. This ensures that transactions are secure and cannot be tampered with. The verification process is an essential part of maintaining the integrity of the blockchain and ensuring the trustworthiness of the entire Bitcoin network.
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