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Board Beginners & Help
Topic OP
Transactions and confirmations...
by
ghisttr
on 06/09/2011, 05:31:04 UTC
Im wondering how confirmations are done on transactions.

What I know.
I know that for newly generated coins, a certain number of blocks must be processed before the coins are considered valid.

I know that newly generated blocks also payout transaction fees.

I know that a transaction requires a certain number of confirmations before being considered valid.

I know that transaction fees are supposed to give your transaction priority and help it get confirmed faster.


What I don't know.

Who confirms the transaction, miners?, other clients?, flying spaghetti monster?

And by what process are transaction confirmed?