Category: 3. Exploring Transactions

The radical transparency of crypto transactions is powering an entire industry of blockchain analysis. Companies such as Chainalysis and Elliptic are employing advanced data science techniques to provide custom tools for  customers who range from governments to hedge funds with tools to either ensure their own transactions are compliant with rules around of the movement…

As you become more familiar with how Bitcoin transactions work, it can help make the abstract functions of mining, confirmations and the movement of value become more tangible. It can also put the history of Bitcoin at your fingertips. A cross-section of a tree trunk includes rings that not only show the tree’s age, but…

Hopefully you are a bit clearer about the logic and terminology of Bitcoin transactions, but to really get to grips with them let’s look at the anatomy of a bitcoin transaction. We’re using a random example from 2016: Time/Date – This transaction occurred at 17:41 17th June 2016 Status – Whether the transaction is Confirmed (Green) or…

Before we dig into the specifics of a bitcoin transaction it is worth explaining a little bit about the logic of Bitcoin transactions, and try to draw analogies to something you should be familiar with, banking transactions. Your bank account has a running Balance, which is the aggregate of Debits and Credits, it shows you…

Block explorers offer the best way to access information within cryptocurrency transactions.  Think of them like  Google or Firefox  but instead of providing results for websites, block explorers are used to browse crypto transactions, stored within a blockchain (you can learn more about that process from our article about bitcoin mining). Blockchain.com launched their block explorer in…

The transparency of crypto transactions brings a completely new level of empowerment to individual users. If you want to send money internationally using existing payment methods – such as Western Union, Monegram or your domestic bank – not only will it will be costly and likely take days, you’ll have very limited visibility on the…

What you’ll learn The transparency of cryptocurrency How to access the information within a transaction The anatomy of a Bitcoin transaction – bit by bit What this information can tell us An essential aspect of cryptocurrency’s value proposition is  transparency.  All Bitcoin transactions, for example, are public, traceable, and permanently stored on a public ledger…