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How to transactions work on the blockchain?

Ref - https://andersbrownworth.com/blockchain/

User side

  1. User first creates a public/private keypair
  2. They create a transaction that they want to do (send Rs 50 to Alice). The transaction includes all necessary details like the recipient’s address, the amount and some blockchain specific parameters (for eg - latestBlockHash in case of solana)
  3. They hash the transaction
  4. They sign the transaction using their private key
  5. They send the raw transaction , signature and their public key to a node on the blockchain.

Miner

  1. Hashes the original message to generate a hash
  2. Verifies the signature using the users public key and the hash generated in step 1
  3. Transaction validation - The miner/validator checks additional aspects of the transaction, such as ensuring the user has sufficient funds
  4. If everything checks out, adds the transaction to the block