Mastering Blockchain - Second Edition

Transactions

Transactions are at the core of the bitcoin ecosystem. Transactions can be as simple as just sending some bitcoins to a bitcoin address, or it can be quite complex depending on the requirements. Each transaction is composed of at least one input and output. Inputs can be thought of as coins being spent that have been created in a previous transaction and outputs as coins being created. If a transaction is minting new coins, then there is no input and therefore no signature is needed. If a transaction is to send coins to some other user (a bitcoin address), then it needs to be signed by the sender with their private key and a reference is also required to the previous transaction in order to show the origin of the coins. Coins ...