Please pardon me for asking such a basic question.
Who checks that for a particular transaction, your wallet has sufficient money?
If Person A has to send Person B 5 BitCoins, which process validates that Person A wallet has the required amount for the transaction?
Thanks in advance!
Every transaction will transfer via each blocks with the help of miners to reach the receiver destination. Nowadays in blockchain.info minimum fees amount has been increased for every transaction. Normally in a transaction, Once you have receive the first confirmation you can confirm that you will receive bitcoin in next confirmations.