What does a Bitcoin transaction consist of?

3

1

I gather that 2400 transactions fit into a 1 MB block. That's 436 bytes per transaction record. But what's in a transaction record?

Is there a good Powerpoint presentation that describes how Bitcoin transactions work?

Thanks.

Mithras

Posted 2012-09-27T01:34:13.620

Reputation: 149

Related: http://bitcoin.stackexchange.com/q/1195/516

– Highly Irregular – 2012-09-27T01:47:03.300

Answers

3

enter image description here

Here's an interactive diagram showing the indivdual steps through the diagram:

A typical transaction (simplified) looks like:

Spend:
   20 BTC from a transaction using address:ABC123 

To:
   10 BTC to address XYZ111
   10 BTC to address JKL222

Here XYZ111 is where you want to send your BTC to and JKL222 is your address for the change.

With transations like this you do not know (reliably) where your BTC are coming from. The next transaction will probably spend from JKL222 as ABC123 is all spent.

This in intentional in the Satoshi client so that it jumbles up the change and the sendee's addresses.

Stephen Gornick

Posted 2012-09-27T01:34:13.620

Reputation: 26 118

can you post a link to a bigger version of the image? – Jus12 – 2012-10-30T18:00:52.470

Hm ... they must have expired that URL. Here: http://spectrum.ieee.org/img/06Bitcoin-1338412974774.jpg

– Stephen Gornick – 2012-11-03T18:23:37.063

Asked: 2012-09-27T01:34:13.620

Viewed: 3 685 times

Active: 2012-09-27T06:31:24.787