How Blockchain Transaction Works? Step 1) Some person requests a transaction. Step 2) The requested transaction is broadcasted to a P2P network with the help of nodes. Step 3) The network of nodes validates the transaction and the user’s status with the help of known algorithms. Aug 28, 2021
Like a database, Bitcoin needs a collection of computers to store its blockchain. For Bitcoin, this blockchain is just a specific type of database that stores every Bitcoin transaction ever made. In a blockchain, each node has a full record of the data that has been stored on the blockchain since its inception.