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?