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March 29, 2019, 02:13:19 PM |
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It is my first time started learning how do bitcoin transactions happen under the hood, and all the technology behind it. So, I come across this double-spending thing and how does the network prevent it. Basically, if I send the same 1BTC I have in my wallet to separate bitcoin addresses, one after another, only one transaction get confirmed (the first transaction most likely) , and the other one will be recognized as invalid. So, my question is how the network (or miners) confirm that a particular transaction is invalid(1BTC has already been spent)/valid(1BTC has not been spent), and according to what factors?
I know the technology behind the blockchain, and more specifically how transactions get added inside blocks and the proof-of-work miners do to include blocks into the blockchain.
WHAT I DON'T UNDERSTAND IS HOW THE NETWORK DETERMINE A CERTAIN TRANSACTION IS VALID OR NOT?
It'd be really great if one can explain it to me more clearly, so that I could understand the whole process, without having any doubts about anything.
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