Within the last few years, Bitcoin (BTC) has become an incredibly popular currency, and not a day goes by without making headlines. More and more people learn about Bitcoin and its many benefits for consumers, merchants, and national economies every day. But despite its seeming ubiquity, not everyone is familiar with Bitcoin’s algorithm or how a Bitcoin transaction works. CoinPayments explains the inner workings of a simple Bitcoin transaction below and provides a foundational vocabulary for understanding the crypto market and Bitcoin network. Important Definitions For Understanding a Bitcoin Transaction…
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