What are the steps involved in the adjudication process for cryptocurrency transactions?

1 answers

• Anandrao PatilSep 22, 2024 · a year ago
  In the adjudication process for cryptocurrency transactions, trust is placed in the decentralized network rather than a central authority. The process starts with the sender creating a transaction and digitally signing it. Miners then compete to solve complex mathematical puzzles to validate the transaction and add it to the blockchain. This process, known as proof-of-work, ensures that the transaction is legitimate and prevents double-spending. Once the transaction is confirmed and added to the blockchain, it is considered adjudicated. The decentralized nature of the process ensures that no single entity has control over the adjudication process, making it more secure and resistant to manipulation.
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