March 2018
Beginner to intermediate
656 pages
20h 9m
English
Content preview from Mastering Blockchain - Second Edition
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Bitcoin – a bird's-eye view
In this section, we will see how the Bitcoin network looks from a user's point of view. How a transaction is made, how it propagates from a user to the network, how transactions are verified, and finally accumulated in blocks. We will look at what are the various actors and components of the Bitcoin network. Finally, some discussion on how all actors and components interact with each other to form the Bitcoin network will also be provided.
First, let us see that what the main components of a Bitcoin network are. Bitcoin is composed of the elements listed here. We will further expand on these elements as we progress through the chapter.
- Digital keys
- Addresses
- Transactions
- Blockchain
- Miners
- The Bitcoin network