Bitcoin Basics: What It Is and How Transactions Get Confirmed
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What is Bitcoin?
Bitcoin is a digital currency that runs on a public network of computers rather than being issued by a central bank or company. Anyone can run software that follows the same rules, and the network keeps a shared record of who owns what.
How a transaction works
When someone sends bitcoin, their wallet creates a signed message that says which coins are being moved and to whom. The signature proves the sender controls the coins without revealing their private key. The message is broadcast to the network, where it waits to be included in a block.
- Wallets create and sign transactions.
- Nodes check that each transaction follows the rules.
- Miners collect valid transactions into blocks.
What does "confirmed" mean?
A transaction is confirmed once it appears in a block that has been added to the chain. Each new block built on top makes it harder to reverse, which is why exchanges and merchants often wait for several confirmations before treating a payment as final.
Keep learning
Read our guide to how smart contracts and DeFi work or see how crypto rules differ between countries. Browse the Bitcoin hub for more.
This article is for general information only and is not financial advice.
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