How do transactions happen in blockcain?

Transactions are sent between peers using software called “cryptocurrency wallets”.

Transactions made between peers are encrypted and then broadcast to the cryptocurrency’s network and queued up to be added to the public ledger.

Transactions are then recorded on the public ledger via a process called “mining”.

Each transaction leads back to a unique set of keys. Whoever owns a set of keys, owns the amount of cryptocurrency associated with those keys (just like whoever owns a bank account owns the money in it).

Many transactions are added to a ledger at once. These “blocks” of transactions are added sequentially by miners. That is why the ledger and the technology behind it are called “block” “chain.” It is a “chain” of “blocks” of transactions.

Keywords: blockchain, transactions, mining, ledger, keys, wallet