Transactions
The Qubic Transaction system is designed to facilitate secure and verifiable transactions within the Qubic Network. Here's a brief overview of how it works:
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Transaction Structure: Each transaction consists of several key components, including the source and destination public keys, the amount to be transferred, the tick (timestamp), input type, input size, and a payload. This structure ensures that all necessary information is included for processing the transaction.
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Building the Transaction: To create a transaction, the system uses a package builder to assemble all the components into a single data package. This includes adding the source and destination public keys, the amount, tick, input type, input size, and payload.
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Signing the Transaction: The transaction is signed using the source's private key. This signature ensures the authenticity and integrity of the transaction, preventing unauthorized modifications.
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Generating the Transaction ID: A unique transaction ID is generated by hashing the transaction data. This ID is used to reference the transaction within the network.
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Sending the Transaction: Once built and signed, the transaction is sent to the Qubic Network for processing. The network verifies the transaction's validity, including checking the signature and ensuring that the source has sufficient funds.
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Verifying the Transaction: The network can verify the transaction by checking the signature against the source's public key and ensuring that the transaction data has not been altered. This verification process ensures the security and integrity of transactions within the network.
The Qubic Transaction system ensures that all transactions are securely created, signed, and verified, providing a robust mechanism for transferring assets within the Qubic Network.
Overview of a Transaction
Anatomy of a Transaction
This section covers the binary format of a transaction.