Son: Dad, did you know that Bitcoin transactions are recorded in blocks on a chain called the blockchain?

Dad: Son, I have heard the term "blockchain" before.

How does it prevent double-spending?

Son: Each bitcoin can only exist in one block at a time, so it can't be in two separate blocks simultaneously. What we call "bitcoin" or "coin" refers to an unspent transaction output, alternatively identified as "UTXO".

Dad: Ah, got it. That ensures the integrity of the transactions then.

Son: Exactly, Dad! It's one of the reasons why Bitcoin is considered secure and trustworthy.

#Bitcoin

Reply to this note

Please Login to reply.

Discussion

No replies yet.