Can you explain the meaning of 'executed' in relation to cryptocurrency transactions?

3 answers

• Fitch PetersonAug 10, 2021 · 4 years ago
  When we talk about a cryptocurrency transaction being 'executed', it means that the transaction has been successfully completed and recorded on the blockchain. This includes the transfer of funds from one wallet to another, as well as the verification and confirmation of the transaction by the network nodes. Once a transaction is executed, it becomes a permanent part of the blockchain and cannot be reversed or altered.
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• Hadar CohenJul 06, 2021 · 4 years ago
  In simple terms, 'executed' in relation to cryptocurrency transactions means that the transaction has been carried out and finalized. It signifies the successful transfer of digital assets from one party to another. The execution of a transaction involves multiple steps, including the validation of the transaction details, the verification of the sender's funds, and the inclusion of the transaction in a block on the blockchain. Once a transaction is executed, it becomes a permanent and immutable record on the blockchain.
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• Leon ebahMay 07, 2023 · 2 years ago
  When it comes to cryptocurrency transactions, 'executed' refers to the completion of the transaction process. It means that the transaction has been successfully processed and confirmed by the network. This confirmation involves the validation of the transaction details, the verification of the sender's account balance, and the inclusion of the transaction in a block on the blockchain. Once a transaction is executed, it is considered final and cannot be reversed or modified. It is important to note that the execution of a transaction can vary in terms of speed and fees depending on the cryptocurrency and the network congestion.
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