Sentences with phrase «output value of a transaction»
If the output value of a transaction is less than its input value, the difference is a transaction fee that is added to the incentive value of the block containing the transaction.
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In order to add blocks to the Blockchain, a miner must map an input data set (i.e., the Blockchain, plus a block of the most recent Bitcoin Network transactions and an arbitrary number called a «nonce») to a desired output data set of predetermined length (the «hash value») using the SHA - 256 cryptographic hash algorithm.
I am also very excited by the new method to sign transactions, which now includes the value of outputs being spent.
Because SegWit transactions will include the value of previous outputs in the signature of the transaction.
As such, regardless of whether Alice or Bob signs and broadcasts the commitment transaction, only Bob can unlock this output — if he includes the value.
As the value of the previous output to be used as input is already included in the signature of the previous transaction, there is no possibility of anyone modifying the input value.