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Miners choose transactions from Memory Pool based on the High Transaction fees because it is more profitable for them. If Miner is able to mine a Block successfully then that fee goes to Miner directly. There is a Block Limit…

Proof of work is a consensus algorithm that is used in Bitcoin and many other cryptocurrencies. Due to proof of work Bitcoin and other cryptocurrencies can be transferred peer-to-peer securely without the need to any third party. Before Bitcoin peer-to-peer…

Have you ever wondered what happens after you click on send button? Allow me to explain the process. Once you click on send button, the transaction goes to the nearest miner. Miner validates your transaction and passes it to other…

UTXO stands for Unspent Transaction Output. Let’s understand this with an example, Suppose Jane(14UwWGHekdseWyQiHNUukPzCxD36R7Bh9A) transferred 10 Bitcoins to Alice. In this transfer process, the output transaction to Alice(1ANFCGTSgVRiUjcp6V1sWdpZrSqtFomb4q) is called UTXO. So, UTXOs are just outputs. Let’s assume that after…