me again =)
Have another question haven't been able to figure out... How does the network know which addresses you have in wallet ?
When you load up client it advertises them or something ?
thanks
All the adresses that were ever used in the network are registered in the blockchain, and you have the whole blockchain in your computer. It just matches all the addresses in your wallet with their respectives blockchain registries and calculates what you have spent and what you still have to spend in each one of them.
You can call the blockchain a ledger, if that's more simple to you.
That's the reason when you load a new wallet into your Bitcoin client you have to tell it to rescan the blockchain and match those addresses in your new wallet to figure out the transactions.
It's pretty neat, the rescan process, as you will see the transactions popping up in your transaction list as your client rescans the blockchain looking for your addresses and finds the transactions
Also, your client has knowledge, sooner or later of ANY transaction that occurs in the network. The transactions that don't match any address in your wallet, it will only save in the blockchain file, the ones that match any of your addresses will also be shown in your transaction list.
It's not your client that broadcasts your addresses, it's more the network that broadcasts all transactions to your client. It just figures out which ones are yours and which aren't
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