View all bitcoin transactions

Bitcoin transaction

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Bitcoin transaction is a section of data confirmed by a signature of Bitcoin. It is sent to the Bitcoin network and forms blocks. It typically contains references to preceding transactions and associates a certain number of bitcoins with one or several public keys (Bitcoin addresses). It is not encrypted because there is nothing to encrypt in the Bitcoin system. A Blockchain browser is where all transactions are combined in the form of a blockchain. They can be found and verified. This is necessary to determine technical transaction parameters as well as verify the details of payments.

Contents

The general format of all Bitcoin transactions [ edit ]

Field	Description	Size
Version number	Currently 1	4 bytes
In-Counter	Positive integer VI = Varlnt	1-9 bytes
List of inputs	The first input of the first transaction is also called a coinbase	many inputs
Out-counter	Positive integer VI = Varlnt	1-9 bytes
List of outputs	The first output of the first transaction use Bitcoins found for the block	many outputs
Lock time	If not equal to 0 and sequence numbers are inferior to OxFFFFFFFF: block height or timestamp (for final transactions)	4 bytes

View bitcoin transactions with input and output [ edit ]

Data [ edit ]

Interpretation [ edit ]

Input in this transaction imports 50BTC from output # 0 in transactions f5d8…, then the output sends 50 BTC to a Bitcoin address (expressed here in the form of a hexadecimal system – 4043…). When the recipient wants to spend their money, he will reference this transaction’s output # 0 for his own transaction’s input.

Input [ edit ]

Input is a reference to the output of another transaction. A transaction often possesses several inputs. The values of these references are resumed and the total value of bitcoins can be used for the current transaction output. Previous tx is the hash of a preceding transaction. Index is a certain output from this transaction. ScriptSig is the first half of the script (see below for more details about this).

The script is composed of two elements: the signature and the public key. The public key belongs to the user who applies the transaction outputs and confirms that the creator of the transaction has the right to have at his disposal the sum of money obtained from the outputs. Another element is EDCSA (hash signature of a simplified version of the transaction). In combination with the public key, this signature confirms that the transaction has been created by the real owner of this Bitcoin address.

Output [ edit ]

The output contains instructions about sending the bitcoins. The value is an amount in satoshi (1 BTC = 100000000 satoshi), which can be used by the transaction for which the current transaction is the input. ScriptPubKey is the second half of the script (this will be elaborated upon afterwards). There can be more than one output and these will share the amount sent from the inputs. Each transaction output may only be used as the input for the subsequent transaction once, with the effect that the sum of all current transaction inputs must be used in the output. Otherwise the remaining sum from the transaction inputs will be lost. For example, if the input is equal to 50BTC and the user must only send 25BTC, Bitcoin creates two outputs of 25BTC each: one will go to the destination, the other will go to the owner of the funds again (the so-called ‘change’ – a transaction in which the user in fact sends money to himself). Any amount remaining from the input of bitcoins not used in the transaction will become the fee for the transaction. The person generating the block will receive this fee.

Transaction verification [ edit ]

In order to verify if the inputs are permitted to collect the requisite sums from the outputs of the preceding transactions, Bitcoin uses the standard system of the script (see below) of scriptSig input and scriptPubKey output which this transaction references. They are evaluated with the help of scriptPubKey using the remaining values in the scriptSig stack.

The input is confirmed if the scriptPubKey script returns a “true” value. Using the script system, the sender can create very complex conditions to fulfill by those who wish to obtain the output value. For example, it is possible to create an input which any user will obtain without authorization. It is equally possible to request that the input be signed by 10 different keys or verified by password.

General format of each transaction input – Txin [ edit ]

Field	Description	Size
Hash of preceding transaction	Hashed double SHA256 of preceding transaction	32 bytes
Previous Txout-index	Arithmetical integer. It indexes outputs of the preceding transaction	4 bytes
List of inputs	The first input of the first transaction is also called a coinbase	many inputs
Length of Txin script	Arithmetical integer VI = Varlnt	1-9 bytes
Txin-script / scriptSig	Script	many bytes
Sequence number	Normally 0[FFFFFFFF; functions in the case that the lock time of the transaction > 0	4 bytes

The input adequately describes where and how the number of bitcoins can be obtained which can be redeemed by their new owner. If it is the only input of the first transaction in the block, it is called the generated transaction input. Its contents are completely ignored.

General format of each transaction output – Txout [ edit ]

Field	Description	Size
Value	Arithmetical integer giving a satoshi amount (BTE/10^8) necessary for transactions	8 bytes
Length of Txout-script	Arithmetical stack	1-9 bytes
Txout-script / scriptPubKey	Script	many bytes

The output determines the conditions of use of the Bitcoin data in the following transactions, the sum of the output values of the first transaction in the block is a value of bitcoins taken for the block. Here a fee amount is added from the other transactions added to this block.

Transaction confirmation [ edit ]

A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. How does Bitcoin work? Bitcoin transactions are not immediate. When a user wishes to send bitcoins, information is broadcast from her wallet to the (users in the) network, who verify that she has enough coins, and that they have never been spent before. Once validated, miners will include this transaction – along with others – in a new block in the blockchain. This is called a transaction confirmation. The transaction is now said to be «0/unconfirmed»

Each time a new block is added to the chain (every ten minutes), the transaction is said to be confirmed again. As a consensus, many users wait for a transaction to be confirmed six times (after roughly sixty minutes) before accepting it as payment, to avoid double-spending. Users will usually show a transaction as «n/unconfirmed» until it is six blocks deep.

Current bitcoin transaction fee [ edit ]

Currently a large amount of transactions is processed in a way that commission isn’t necessary. At the same time in case if transaction has a lot of entry points (e.g. it carries large amounts of data) a small commission is not uncommon.

Any miner can be the one who processes the transaction and earns the commission fee. When the network finds a new block it includes all information about transactions including their commission. Thus any user of group of users who find that block will gain both the reward for the block and the commission fees for every transaction included in it.

Including commission in a transaction is a voluntary decision but a user who finds a block can attach any transactions he wants to the said block. That way transactions with 0 commission have the lowest priority when transactions with even the minimal possible commission (

0.0001 BTC at the current moment) have standard priority and will more probably be included in the block.

Where do bitcoin transaction fees go? [ edit ]

Cost of Bitcoin transaction [ edit ]

Transaction fees (cost of Bitcoin transaction) are included with your bitcoin transaction in order to have your transaction processed by a miner and confirmed by the Bitcoin network. The space available for transactions in a block is currently artificially limited to 1 MB in the Bitcoin network. This means that to get your transaction processed quickly you will have to outbid other users.

Bitcoin transaction price shown at the historic charts and tables are in US dollars per transaction and in satoshis per byte [here].

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The Bitcoin.com Company Blog

How To Find Any Bitcoin Transaction On The Blockchain 🔍

March 27, 2019 by Bitcoin.com

Wondering, “Where’s my Bitcoin?” Our free Block Explorer tool can help you track down specific transactions.

The Bitcoin.com Block Explorer quite literally lets you explore both the Bitcoin Cash (BCH) and Bitcoin Core (BTC) blockchains.

Similar to a search engine, you can use it to search for specific blocks, transactions, and even addresses.

The Bitcoin.com Block Explorer summarizes transaction confirmations, block number, and more.

How do you use Block Explorer to find transaction details?

1. Select the transaction within your wallet

Open up your digital wallet and select the transaction you’d like to learn more about. Most software wallets and crypto exchanges clearly list your recent transactions for you, making them easy to find.

2. Find the unique transaction ID

Every Bitcoin transaction comes with its own transaction ID (TXID), a string of letters and numbers that makes it unique. The Bitcoin.com wallet conveniently provides the TXID for you, as do some other wallets and exchanges.

3. View on Block Explorer

If you’re using the Bitcoin.com wallet, simply click ‘view on blockchain’ and you’ll be taken to the corresponding page on Block Explorer. Otherwise, cut and paste the transaction ID and search for it manually within Block Explorer.

The Bitcoin.com wallet has a built-in button for viewing a TXID

Why might you need a transaction ID?

You might need to track down a transaction ID for various reasons. Two of the most common include:

Delayed transactions

If you’re worried about a delay, you can use Block Explorer to view your transaction. If it appears there, you can rest assured that your transaction is in progress.

Proof of sending

Sometimes a recipient may ask you to send a transaction ID to verify you’ve sent Bitcoin to them. This TXID provides irrefutable proof of a successful transfer.

Struggling to find the transaction ID?

Not all wallets and exchanges provide the TXID for you. However, you can still find it yourself.

Start by locating the address you sent the Bitcoin to and paste this into the Block Explorer search bar. The result will show all incoming and outgoing transactions specific to that address.

As such, there’s often more than one transaction listed. To find the TXID you’re looking for, check figures like date, time, and amount sent so you can be sure its the right transaction.

Searching wallet addresses manually on Block Explorer is another way to find TXIDs

What if your transaction isn’t found on Block Explorer?

Firstly, don’t panic. This is one of the most common questions we get asked and there’s usually a simple explanation.

It’s possible that you’ve searched the wrong blockchain. For instance, if you’re looking for a BCH TXID but you’ve searched on the BTC section of a typical Block Explorer, no results will be found.

To prevent confusion, the Bitcoin.com Block Explorer is clever enough to redirect you when this happens: you’ll be automatically sent to the right page after a few seconds.

The Bitcoin.com Block Explorer covers both Bitcoin Cash (BCH) and Bitcoin Core (BTC).

If you’re still struggling to find your transaction, it could be that the TXID is simply incorrect.

Particularly if you’ve been sending it back and forth in various messengers used by other people, errors can occur and, since Block Explorers are very precise, even one tiny mistake will return no results.

It’s most likely that the TXID was either not copied in full or, potentially, it may not be a transaction at all (i.e. just a randomized set of digits and letters instead).

In the case of the latter, this could mean somebody is trying to prove they’ve sent you Bitcoin when in fact they haven’t—so proceed with caution.

What if your transaction has been sent to the wrong address?

Sometimes, transactions can be sent to the wrong address (i.e. due to a typo) or to the wrong blockchain entirely. Unfortunately, both cases are difficult to resolve.

Occasionally, crypto exchanges will try to help you if you’ve made a mistake when sending. Since these exchanges are centralized, they can technically control the cryptocurrency moving in and out of wallets, so they could potentially reverse a transaction for you.

However, if you’re not using an exchange, getting your coins back is impossible. Bitcoin is decentralized by design meaning nobody can undo transactions you make.

Plus, wallets are not tied to anybody’s identity, so you can’t simply reach out to the recipient and ask them to kindly return your funds.

To prevent this from ever happening to you, always double check addresses before sending any Bitcoin.

What if your TXID exists but your Bitcoin hasn’t arrived?

Occasionally, transactions take more time to send. In this case, you’ll see that the TXID shows up on Block Explorer but the Bitcoin has yet to arrive in the recipient’s wallet.

There’s no reason to worry! Once a transaction appears on the Block Explorer, you know it will eventually complete. But why do Bitcoin transactions sometimes get delayed?

The Bitcoin Core (BTC) network experienced severe transaction delays in 2017. See Charts.Bitcoin.com for more.

Different cryptocurrencies

Regular Bitcoin Cash (BCH) transactions typically transact in seconds and, for larger amounts, they usually complete within an hour. However, Bitcoin Core (BTC) transactions have been known to take several days to complete when the network is busy.

Exchange requirements

Crypto exchanges have different requirements when it comes to how many confirmations they require. Until this number has been reached, you won’t see the Bitcoin in your wallet. You can check how many confirmations your exchange requires by reading their website.

Blockchain maintenance

Occasionally, blockchains undergo planned maintenance. During this time, transactions will be delayed as most wallets and exchanges temporarily freeze transfers. You’ll get advance notice of this and all transactions will complete once the maintenance is finished.

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