Understanding Blockchain Transactions & Their Real-World Uses 🔗

Blockchain Transaction and Applications<br />3. Blockchain Transactions:<br />1. Explanation of How Transactions Are Verified and Added to the Blockchain:<br />Initiation of a Transaction:<br />Users initiate transactions by creating a digital wallet and submitting a request to transfer assets (cryptocurrencies or other digital assets) to another user.<br />Transaction Information:<br />Each transaction contains information such as the sender's wallet address, the recipient's wallet address, the amount of assets being transferred, and a digital signature.<br />Verification Process:<br />Nodes on the blockchain network verify the validity of the transaction. This verification involves checking if the sender has the necessary balance and ensuring that the digital signature is authentic.