How Transactions Authenticated || Steem Alliance Community.

Hello Everyone,

Good evening everyone, how are you. I hope you all guys will happy and good. By the grace of God, I am also good. Today I am here with new post in which I am going to talk about how transactions are generated on blockchain network. So, let's start.

Blockchain technology is super secure and transparent for keeping track of transactions. It uses secure and block base technique to make sure each transaction is really safe. Every transaction is make a chain and connected to the ones before it in a long chain of blocks.

This makes it super hard for someone to sneakily change old transactions without most of the people in the network agreeing. blockchain networks also often spread out decision making power, so it is not easy for one thing to mess up the whole system.

With blockchain, everyone can see all the transactions that happen. It is like having a big public record book online. Anyone in the world of blockchain can check out what is been going on. It gets the people trust and we do not need as many middlemen keeping an eye on things.

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Transaction Hash: it is a digital fingerprint for the transactions that will be initiated on blockchain network. it is a unique identifier that helps keep track of it.

Signatures: It is generated by using the private key of sender. It proves that sender is initiating the transaction.

Sender Address: This is the digital address of the person sending the cryptocurrency. It is the public key of their address on the blockchain.

Receiver Address: This is the digital address of the person receiving the cryptocurrency. It is also the public key where the crypto is going.

Amount of Crypto: It is the amount of cryptocurrency that will be transferred from sender to the receiver.

Transaction data also need the transaction fee detail and timestamp to complete the transactions. bitcoin use the elliptic curve digital signature algorithm (ECDSA). it is the key generated system that create both key one is public and second is private key. For signature transection private key is use and for signature verification public key will use.

I hope it will be an interesting topic for crypto lovers. It would be my pleasure if you will share your opinion and reviews on this topic.

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