Bitcoin uses a scripting system for transactions. Forth-like, Script is simple, stack-based, and processed from left to right. It is intentionally not Turing-complete, with no loops.| en.bitcoin.it
Byte-map of Transaction with each type of TxIn and TxOutA transaction is a transfer of Bitcoin value that is broadcast to the network and collected into blocks. A transaction typically references previous transaction outputs as new transaction inputs and dedicates all input Bitcoin values to new outputs. Transactions are not encrypted, so it is possible to browse and view every transaction ever collected into a block. Once transactions are buried under enough confirmations they can be conside...| en.bitcoin.it
Transaction data is permanently recorded in files called blocks. They can be thought of as the individual pages of a city recorder's recordbook (where changes to title to real estate are recorded) or a stock transaction ledger. Blocks are organized into a linear sequence over time (also known as the block chain). New transactions are constantly being processed by miners into new blocks which are added to the end of the chain. As blocks are buried deeper and deeper into the blockchain they bec...| en.bitcoin.it