Blockchain tutorial 26: Bitcoin transaction

Рет қаралды 11,734

7 жыл бұрын

This is part 26 of the Blockchain tutorial explaining how to make a bitcoin transaction.
A real demonstration is given how to make a bitcoin transaction on the Bitcoin Testnet.
This tutorial shows the following:
- How to create multiple public and private bitcoin Testnet key pairs.
- How to claim some bitcoins from a faucet and transfer it to a sender address.
- How to make a bitcoin transaction by transferring all bitcoins from a sender address to receiver address.
This tutorial also explains:
- What UTXO (Unspent Transaction Output) is.
- What a confirmation is.
In this video series different topics will be explained which will help you to understand blockchain.
Bitcoin released as open source software in 2009 is a cryptocurrency invented by Satoshi Nakamoto (unidentified person or group of persons).
After the introduction of Bitcoin many Bitcoin alternatives were created. These alternate cryptocurrencies are called Altcoins (Litecoin, Dodgecoin etc).
Bitcoin's underlying technology is called Blockchain.
The Blockchain is a distributed decentralized incorruptible database (ledger) that records blocks of digital information. Each block contains a timestamp and a link to a previous block.
Soon people realises that there many other use cases where the Blockchain technology can be applied and not just as a cryptocurrency application.
New Blockchain platforms were created based on the Blockchain technology, one of which is called Ethereum.
Ethereum focuses on running programming code, called smart contracts, on any decentralized application.
Using the new Blockchain platforms, Blockchain technology can be used in supply chain management, healthcare, real estate, identity management, voting, internet of things, etcetera, just to name a few.
Today there is a growing interest in Blockchain not only in the financial sector but also in other sectors.
Explaining how Blockchain works is not easy and for many the Blockchain technology remains an elusive concept.
This video series tries to explain Blockchain to a large audience but from the bottom up.
Keywords often used in Blockchain conversation will be explained.
Each Blockchain video is short and to the point.
It is recommended to watch each video sequentially as I may refer to certain Blockchain topics explained earlier.
Check out all my other Blockchain tutorial videos
goo.gl/aMTFHU
Subscribe to my KZfaq channel
goo.gl/61NFzK
The presentation used in this video tutorial can be found at:
www.mobilefish.com/developer/b...
The 3 bitcoin node.js scripts can be found at:
www.mobilefish.com/developer/n...
The Bitcoin faucet used in this video is:
testnet.coinfaucet.eu/en/
The Bitcoin Testnet explorer used in this video is:
live.blockcypher.com/btc-test...
#mobilefish #blockchain #bitcoin #cryptocurrency #ethereum

Пікірлер: 25

@test1729 6 жыл бұрын

Thank you so much for your videos! I don't know what I would have done without them :(

@josecaodaglio9374 6 жыл бұрын

Great job!

@dirindirin3983 Жыл бұрын

Thank you👍👍👍

@tabuk1979 7 жыл бұрын

Now I feel the matrix :) Great tutorials !

@worcestershire1080 4 жыл бұрын

When I run bitcoinjs_example1.js this error shows how to fix it? var publicKeyCompressed = keyPair.getAddress(); ^ TypeError: keyPair.getAddress is not a function

@vengatnaresh 6 жыл бұрын

Hi sir , Entire wallet value only transfer to another address but split up btc value didn't send to another address .share some suggestion.

@ts______ 6 жыл бұрын

Are you Satoshi Nakamoto? hahah

@rohittrivedi89 4 жыл бұрын

Hi..Thanks for tutorial.. Is there any way to get utxos from bitcoin core itself instead of third party api?..Thanks.

@sanyameepatel9528 5 жыл бұрын

Hello, I tried to run this after installing "bitcoinjs-lib" but there seems to be some problem as I get the error "TypeError: keyPair.getAddress is not a function " when I run example2b. Can you help, please? Thanks

@tommylee2967 6 жыл бұрын

In layman's term, what causes "unspent outputs" and should I be concerned ? Do I need to reclaim them or what ? My accounts and transactions had these recently. Why ? Thanks !

@Mobilefish 6 жыл бұрын

A UTXO is an unspent transaction output. In an accepted transaction in a valid blockchain payment system (such as Bitcoin), only unspent outputs can be used as inputs to a transaction. I highly recommend that you read: bitcoin.org/en/developer-guide#block-chain

@tommylee2967 6 жыл бұрын

How do you use unspent outputs as inputs to a transaction with an example ? Why is there UTXO in the first place ? I thought the transaction goes as spend from point A to as receipt at point B. Right ? As you know it usually needs 3 and even 6 confirmations before the transaction is considered complete and the funds released. But nowadays you can see 100 or even 500 confirmations. I would think 10 confirmation will be more than enough. To do 500 confirmations is excessive and actually redundant. Maybe this is what hogs and bogs down the entire BTC block chain system. Agree ?

@1987kahil 6 жыл бұрын

Hi I sent bitcoins from coinbase to another hashtag. It shows up on block cyper but I have not received the bitcoins in the wallet I sent to. It has been over 1 month now and I think it is lost. On block cypher, it shows the amount when I search the hash. It shows it on received and sent but 0 in balance. How can I send it back to coinbase?

@Mobilefish 6 жыл бұрын

It is very difficult to understand what you are saying. Let use the correct "words": 1) You have sent bitcoins from Coinbase to an address 2) With the blockcypher explorer you checked your transaction using your transaction hash. Question: a) Based on the information from blockcypher, did Coinbase transfer your Bitcoins? If yes, have you checked the address (must be same as step 1) If yes, is the balance correct. If the address match and the balance is ok, than the transaction is correctly executed. b) Are you sure the address used in step 1 is correct. I do not know what wallet you are using.

@1987kahil 6 жыл бұрын

Mobilefish.com hi thank you for your reply. It was sent from coinbase to Trade Coin Club. I generated a hashtag from TCC and then sent bitcoins from coinbase to the TCC hash. The bitcoins have left my coinbase account but have not come to TCC. When I search the hashtag on TCC, it says unrecognised hashtag. However when I use the hashtag to search on blockcypher, it shows the exact amount I sent but I have no idea where it went and how to get it back. It is basically lost in mid air

@Mobilefish 6 жыл бұрын

BE VERY VERY CAREFUL, I DO NOT TRUST THESE COMPANIES! 1) Goto live.blockcypher.com/ 2) Enter your transaction hash (The one when you created a transaction from coinbase) and press search button. 3) In the next screen you will see your transaction details. 4) Look at the outputs. One of the outputs will be the one to TCC. Is this correct? 5) Is this transaction CONFIRMED? Here is an example: live.blockcypher.com/btc/tx/2509e5b65ed362557fcf2104e89f3c2430ceecc6a3275556c1b966eb641fe092/ In this example in the top right corner you see that this transaction is confirmed. When your transaction is confirmed, your Bitcoin is send from Coinbase to the bitcoin address you entered (I find it curious that you use the word "hashtag"). A confirmed Bitcoin transaction CANNOT be lost mid air! If confirmed, the transaction is sent! I recommend that you contact TCC....

@1987kahil 6 жыл бұрын

Mobilefish.com I have tried contacting TCC but they have said that it has not been sent properly so they have no record of it. Here are the two hash's that I generated from TCC to send bitcoins to coinbase with. Please can you let me know what you understand from it. Thank you 13Tu16WFUmAd1D5z7v2w3uUumz1eKT1bMQ 1LYh1pPLurcDe2JEaM9HkPUHqEYtCvovfc

@Mobilefish 6 жыл бұрын

1) You have sent from Coinbase (2017-12-14 01:33:29): 0.06 BTC from bitcoin address: 15TZMeYNGRo3cC7aeqdgMBE39hHKRnJb9H to TCC Bitcoin address: 1LYh1pPLurcDe2JEaM9HkPUHqEYtCvovfc blockchain.info/address/1LYh1pPLurcDe2JEaM9HkPUHqEYtCvovfc 2) You have sent from Coinbase (2017-12-13 20:53:29): 0.02415865 BTC from bitcoin address: 17NPSQixShbtxD6oA3UkGCD8TZAAKzrdoJ to TCC Bitcoin address: 13Tu16WFUmAd1D5z7v2w3uUumz1eKT1bMQ blockchain.info/address/13Tu16WFUmAd1D5z7v2w3uUumz1eKT1bMQ Both transactions are confirmed... I also see that the Bitcoins at address 13Tu16WFUmAd1D5z7v2w3uUumz1eKT1bMQ and 1LYh1pPLurcDe2JEaM9HkPUHqEYtCvovfc are used...

@ashokraj2796 6 жыл бұрын

What if I send my crypto currency to an invalid address and still my transaction gets confirmed??will I get it back,is there any way to revert the things,the address to which I sent holds the coin,but how can I use it???

@Mobilefish 6 жыл бұрын

If the transaction is confirmed, the coins are transferred. There is no way to revert things. The person who has access to the private key belonging to the address can access the coins. If no one has access to the private key, the coins are lost forever.

@ashokraj2796 6 жыл бұрын

Mobilefish.com This transaction happened in a quantum block chain,but you mentioned in your tutorial that checksum is there to validate the address ,but I made transaction to a address that is completely irrelevant to quantum blockchain(the address starts with M and size doesn't match with others) and how come it got validated..

@Mobilefish 6 жыл бұрын

I have absolutely no idea what you are talking about. 1) Are we still talking about Bitcoin?? Because I do not know what a "quantum" block chain is. Please note there are more than 1384 crypto currencies. I only understand Bitcoin, Ethereum and IOTA. 2) If you are create a transaction, you are probably using a wallet. A good wallet should protect you entering an invalid address. What wallet are you using?

@ashokraj2796 6 жыл бұрын

Mobilefish.com I transacted through an exchange,what is the role any exchange play here??