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Title: Transactions and confirmations... Post by: ghisttr on September 06, 2011, 05:31:04 AM Im wondering how confirmations are done on transactions.
What I know. I know that for newly generated coins, a certain number of blocks must be processed before the coins are considered valid. I know that newly generated blocks also payout transaction fees. I know that a transaction requires a certain number of confirmations before being considered valid. I know that transaction fees are supposed to give your transaction priority and help it get confirmed faster. What I don't know. Who confirms the transaction, miners?, other clients?, flying spaghetti monster? And by what process are transaction confirmed? Title: Re: Transactions and confirmations... Post by: edd on September 06, 2011, 01:55:42 PM https://en.bitcoin.it/wiki/Transaction_fees
flying spaghetti monster? Well, his noodly appendages are omnipresent. Title: Re: Transactions and confirmations... Post by: ghisttr on September 07, 2011, 09:35:01 AM Thanks ;D
So transaction processing is lumped into mining.... but im still confused as to how confirmations tie into it. Does the first one to process a transaction get the fee?, or it it divided up among alot of people? |