Sometimes, when I click to check, I see a lot of addresses. I have a vague idea that it is for processing the payment(correct me if I am wrong). The question I have is: how are the payment transactions processed? What actually goes on there?
The link you clicked on contains the transaction ID, which as the name suggests is a way of identifying the transaction which was signed and broadcasted. The addresses you see labelled
To are the outputs of the transaction and those tagged
From are the inputs of the transaction. Other information contained include hash ID and number of confirmations.
A transaction ID is generated for a transaction and is used to monitor the transaction as it is processed. This process involved nodes validating the transaction and adding it to their mempool, it gets picked by a miner from there and added to their candidate block. If their block gets confirmed the transaction gets 1 confirmation. As more blocks are confirmed the transaction goes deeper into the blockchain and the number of confirmations increase. The transaction you linked has almost 2,000 transactions.
- Jay -