Ep. 11 [Bitcoin Full-Nodes] Initiate & Receive pending Bitcoin-Transactions - Part1

Note
Gain a fundamental understanding of Cryptocurrency in an easy way. Before continue reading the story, I recommend to take a couple of minutes and read through the prior article again in order to refresh your present knowledge. The more often you read through the story, the more confident you will get with the technology behind cryptocurrencies like Bitcoin. Take your time, to understand cryptocurrencies, as a Steemian it's worth it. If something in the story is not clear to you, don’t hesitate to ask. There are several people who might have the same question. So shoot me a comment, if something is unclear. Me and other readers will appreciate it!

---

So in the recent episodes we got to know the new Full-Node “Flint”. We saw that every Full-Node is verifying pending Bitcoin-Transactions for correctness. Therefore a Full-Nodes needs an own Blockchain-Book which it got from other Full-Nodes.

Besides verifying Bitcoin-Transactions and holding a local Blockchain, there are more functions, that Full-Nodes can do. A Full-Node also:

sends/receives pending-Bitcoin Transactions and

holds a list with pending Bitcoin-Transactions, which it initiated by itself or received from other Full-Nodes

Lets make these points more clear with an example. So until now we were looking at the two Full-Nodes “Flint” and “Eric”. Flint is a new Full-Node. Therefore he connected with other Full-Nodes like Eric in order to ask them for copies of their blocks for his own local Blockchain version. After verifying these received blocks, Flint attached them to his local Blockchain. In the previous article, we assumed that the whole blockchain consists only of 3 Blocks, to keep it simple.

This is what we have so far.

Now lets add the other functions to this picture. So we said that each Full-Node also holds a list with pending Bitcoin-Transactions.

We said that a Full-Node also can initiate and receive pending Bitcoin-Transactions. Lets make an example here: Lets take our Full-Node Flint. He sends 1 BTC to John. How exactely is this transaction proceeding? Well, Flint is not really sending the transaction directly to John. He is putting this transaction into his list of pending-Transaction. Furthermore he is sending a copy of it to all Full-Nodes which he is connected with. So in our example to Eric.

Eric is receiving this pending Bitcoin-Transaction. First of all Eric is checking if this transaction is legitimate. If so, he adds this transaction to his pending Transaction-List as well.

Afterwards Eric is sending a copy of it to the Full-Nodes which he is connected with.

This process is continuing until all Full-Nodes in the Bitcoin-Network received the pending Bitcoin-Transaction, checked it for correctness and added it to their local Pending-Transactions List. This is how initiated Bitcoin-Transactions getting propagated throughout the whole Bitcoin-Network, which consists of Full-Nodes.

Summary

A Full-Nodes holds a local Blockchain-Version

A Full-Node is sending, receiving and verifying copies of blocks to keep its local Blockchain up-to-date

A Full-Node can initiate Bitcoin-Transactions

A Full-Node is sending copies of these pending Transactions to connected Full-Nodes in order to propagate the pending transaction throughout the network

A Full-Node holds a list with pending Bitcoin-Transactions

The story doesn't end here. We will continue very soon.

If you like the stories and pictures, I would appreciate your support by upvoting and sharing this story.

Thank you