Transactions

Transactions

The creation of a raw transaction is a multi-step process that involves several key actions within a blockchain network. This process begins with the assembly of a complex data structure, which serves as the foundation for the transaction. This structure meticulously outlines the details of the transaction, including the identities of the sender and recipient, as well as the precise amount of assets to be transferred.

The intricacies of this data structure extend to encompassing inputs and outputs, which collectively define the flow of assets within the transaction. To ensure the integrity and non-repudiation of the transaction, it undergoes a critical authentication step. This involves the use of the sender's private key to digitally sign the transaction, thereby sealing its contents and confirming the sender's ownership of the assets in question.

Following the signing, the transaction is transformed into a raw format through a process known as serialization. This format is specifically designed to facilitate the efficient transmission of the transaction data across the blockchain network, ensuring that it reaches all nodes involved.

The dissemination of this signed and serialized transaction initiates a network-wide validation procedure. During this phase, miners or validators within the blockchain network scrutinize the transaction to verify its legitimacy. Successful validation culminates in the incorporation of the transaction into the blockchain. This pivotal step completes the asset transfer process, securely moving the specified assets from the sender to the recipient within the blockchain ecosystem.