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Author Topic: Transactions and confirmations...  (Read 389 times)
ghisttr
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September 06, 2011, 05:31:04 AM
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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?

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September 06, 2011, 01:55:42 PM
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https://en.bitcoin.it/wiki/Transaction_fees

flying spaghetti monster?

Well, his noodly appendages are omnipresent.

Still around.
ghisttr
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September 07, 2011, 09:35:01 AM
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Thanks Grin

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?


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