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Monday, March 29, 2021

How does a Cryptocurrency transaction work?

DISCLAIMER: This is not a written-from-the-scratch know-it-all original article. I have collated this information from different sources on the internet in one place for my own reference. So don't cry "plagiarism" because this is an up-front admission.

A transaction in the cryptocurrency space involves the transfer of certain units of the currency from one "address" on the network to another (an address is an identifier just like an account number in a bank record).