CryptoURANUS Economics: Input: Defined in CryptoCurrency


Tuesday, August 7, 2018

Input: Defined in CryptoCurrency

Input: Defined in CryptoCurrency

Input is defined as cryptocurrency being received into your digital wallet. 

Cryptocurrency coming into your digital wallet is known as an “input”.

Let’s say you want to spend 10 bitcoin, if you have 3 inputs (3, 9, and 15) then the first two are combined (3+9=12) and both are sent out as outputs. 

After transaction fees are spent, the remaining balance (about 2 bitcoin) is sent back to you as an input.

Your input is always another’s output. And reversely, your output is always another’s input.

No comments:


Search This Blog