What Is A Transaction In Bitcoin?
A transaction in Bitcoin represents the transfer of value between addresses. It ensures the sender cannot double-spend and lets the recipient use the transferred bitcoins. While transactions are transparent on the Bitcoin network and recorded in the blockchain, they are not encrypted, allowing for public viewing. Each transaction references prior transaction outputs as new inputs and commits to new output values. Although all transactions can be seen using a blockchain browser, they become irreversible after sufficient confirmations.