When someone wants to pay someone or receive money, they should verify the block chain to make sure they are using the correct “trusted” chain. This means each transaction is also checked to make sure the payer has enough funds to send the money.
What I don’t understand is the concept of different transactions conforming an actual block. Are these the blocks then that people verify and within each block they have to see all the transactions? I thought each transaction had its own block.
I’m not into bitcoin or anything. I won’t use it at all. Just recently I read a very interesting article about satoshi and I’ve been down a rabbit hole Lol. But I’m making this post because I thought I understood the process but the whole block chain has me confused. I always heard the term “bitcoin” mining but I never really looked into it and had no idea what it actually entailed. Now I see that people solve mathematical problems to figure out a block that then gets added to the network. But, let’s assume if no further block is ever found and people want to spend coins. How will those be added to the network then? I’m so confused -.-
I’ve watched the bitcoin video by 3b1b and currently watching “how bitcoin works under the hood” by curiousInventor but I still don’t get it. I hope my question makes sense and someone clarifies how these transactions within a block work when checking valid inputs and, when a certain branch is the one that gets ahead therefore the valid one, are these actual blocks containing multiple transactions or are they single transactions?