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this is how I bid contamination lifecycle is so this is typically lignum Rob opens his VidCon wallet scans a copy is a clear bubbly electron send receive and recipient the addresses using QR code fill the amount and a fee to make the transition habit and sends it okay what happens the wallet signs in the transition using the Rob's private key okay so data signature what we're talking about the transition is propagated and validated by the network modes - include the transition in the next block to be mined mining time okay miss Li is the completion process of calculating the certain hash address okay and suddenly new bitcoins are created the miner who solves the proof-of-work propagates the new block to the network and the root nodes verify the result and propagate the block Laura sees the first confirmation and survey their new confirmations appear in with each new block that is created on the nature so Bitcoin ecosystem okay so Bitcoin hardware manufacturers mining platforms okay we have a clicker research and support of basically foundations for profiles venture capitals security okay which is ongoing and then here we have payment process escrow services which you Cherryville we've retailer came up in deities of stores that accepting a bitcoins then T we have scenically buying selling and storing of bitcoins financial services secondly who helps in Italy investing in bitcoins and probably tell you a kilogram movement to come out of the market went to get into the market and all so these are at least IOT of ecosystem which is built a key around a bit can protocol today which are being supported Aquino takes care of various services okay structure of a Bitcoin transaction this something a link probably interesting so transition contains some number of fields okay so you will have a clear the version okay off a transaction basically let's specify the rules this transition follows okay it will have a clear multiple inputs which can be directly for our transition how many inputs are included could be you know it can be defined a key number one to nine byte variable actually know one or more transaction or puts and then you have output counter like you know how many you know outputs are included a key in this transaction variable cyclic not outputs it zero one or more transition outputs and for byte SEC is a lock time a care units times stamp a clean or block number okay so what happens the kilo in the van is a multiple inputs or multiple outputs typically like number we will have a kilogram as let's say you mind a coin a my mind a block a key on a blockchain network okay you have let's say you buy my indica twelve point five dollar cycling after mining okay when we started a CLE the Bitcoin platform Italy we had a 350 dollars which was rewarded a key as part of the every block which was mined and these rates are getting chained actually based on the number of logs which are left at key in the network do you mind okay so this is something called likely unspent transition output okay so we call it a kilogram you EXO okay our unspent transitions output in a fundamental building block of a Bitcoin a nun spend transition output that can be spent as an input in a new translation okay so let's see like know once you mind Ricky will just be an example I think will better understand that so network keep track of all the available unspent transactions numbering in the millions okay the first block contained let's say and this is example the first block contains 50 mind BTC is in address a okay the second block contained 50 mine BD sees in address a a transactions sending 20 BTS is to address B and putting the change in the Atlas see understand what I'm trying to say so this is first block okay which is the mind block off for number 50 bt6 the second block contains a key of this 50 B DC's which was mined in the first block a transition is fending off 20 BT cease to be addressed B and putting the change in the address see okay the third block contains B 50 mine BT sees in address a okay and a transition spending sending Atlee 20 BDCs from B to D okay so this is why there are three blocks and this is what a cleat carries okay so on transition output okay so all after three blocks there are at least four unspent transactions he has two unspent transitions worth 50 BT sees you she remember actually why the second block contains 50 BTC switches enough in the address a a transness ending of 20 BTC is to address B and at 30 putting it back to address C okay so this is a nothing but 50 BTC so K which has been spent and spent transactions outputs a 50 B TCC's C has a single unspent output worth of 30 BTCC why 30 BTC because this virtually what CL received from a what it has been mined a cue from the block a okay and D has a single and spent output worth of 20 B DC's so we know and CD has recently 20 BTC is actually from B to D okay so BDC ready for me and then be moved it at you to address me okay today it ran up to party D so these unspent relation R Omega and there are two spent outputs 50 BTC generated in the first block that's a spent output spend in the second block okay because it has been moved to B and D B and C and a 20 BTC generated created in the second block spend in the third block so which was a generator key when you moved at Li 20 BTC s I make this was a new transition which you created from the unspent transaction to move it to address B and this address be has moved away from a 20 on explained transitions from B to D has been moved into transitions third transition third block okay so busily note that unspent outputs don't merge together the two unspent 50 BTC outputs at address a are separate and will remain separate at least until they are spent in a transaction so basically you know when you mine a block okay you'll have at little certain be DC's will receive which is a spent transition okay and you'll have at least like you know you might redo few more I make you can do using the transaction if you know which has been spanned you may do at least next set of transactions which will be become monthly understand transitions to other parties because they're not spend those transactions and it will have at you all those transactions all and spend and spend donation will have at you separate entries in your wallet if you want to spend an unspent transaction you need to probably create a transaction of unspent transitions to make them spend or probably to spend at that transaction so bit current transition inputs and outputs firstly for exhume Attica truths about transactions okay any Bitcoin amount that we send is always send to an address any Bitcoin amount we receive is logged to the receiving address okay which is with our wallet okay any time we spend Bitcoin the amount will the amount we spend will always come from funds previously received and currently present in a wallet adjustments received Bitcoin but they do not send Bitcoin Bitcoin is sent from a wallet now we go to Bitcoin scripting language all Bitcoin transactions have scripts coded with it so now into its inputs and output mechanism okay so basically compare we talked about a key inputs and outputs have if you look at it here you so basically yeah this is a clear how a typical Bitcoin transaction structure would look like sorry you have a cleanup with the version number k specified this specify the rule 60 this transition follows okay these rules are nothing but d typically a certain conditions which are meant a clearly know for the transition to happen okay then actually basically your input counter how many inputs are included okay variable I click the output setting of one or more transition outputs so actually if you look at your example I key over here this is actually like nothing but a key you know one of the input to a block B okay which is actually ignore again you have a kid at multiple outputs one is to D BT since 30 BTC s have the multiple outputs and then if this is again an input transaction kilo 50 BDS which is mind which is unspent transition but is mind okay so this is one input which is mind and then there you have two outputs okay so this is what we are trying to say you have variable likely output one or more transition outputs output counter how many outputs are included variability output one or more transition outputs four bytes the locked i makea unix timestamp or block number okay so what I'm trying to say here is I'll just go scripting language okay so we are saying to you all bit contraction having scripts coded into its inputs and output mechanism design goals fourth leg like programming languages old stack basically simple programming languages reverse polish notation actually data is pushed onto the stock stack and the operation is performed and I composed of opcode tsukino operations in Bitcoin it's composed of op codes I'll just take one example and probably I think we will explain this so here it if you really see this nothing but a simple example of a scripting okay the script shown alongside will execute the values in this stack and will return to true if the equation is valid if you see these exhaustion pointer is points to the left mood the leftmost aquele starts for D from the left okay if you start from the left constant value 2 is pushed to the top of this stack okay evolution pointer moves to next left and totally move towards right with each step actually constant value 3 is pushed on top of the stack and similarly it enough probably validates a mic what is the operator and the operator ad pops up at the end two items I tend to do two top items out of this tag which is 2 & 3 of this stack adds them together so which is nothing but D 5 a TD operator ad pushes the result 5 to the top of the stack okay and constant value five is pushed to it above the stack as we discuss there and then equals it very validates no operator equal pops the two items out of the stack and compares the five the values Italy five and five if they are equal equal pushes I'm ready equal pushes the true equals to one to the top of the stack okay so this is basically nothing but I clean them we are just showing Italy how are the transition work flow happens likely like no or validation happens actually ignore it for the spent and spent transactions likely into the Bitcoin world these are actually the most common types of Bitcoin scripts now pay too public a Kiki hash pay to public key way to multi sign key way to script hash ok so we're basically P to public key hash one of the most commonly used at least injection output script he used to pay to a Bitcoin address okay so P to public key hash is typically like what we see actually not typically used external Bitcoin network or and the addresses starts cleaveth denote typically with one okay and pay to multi sign is another one activities used at he for forming a transaction okay on the Bitcoin world or and public and typically the address of the number probably when you do the address of the multi sign a key would be starting with her 3 okay so I'm like if you see here there I'm probably for Bitcoin addresses you will see probably one or three Akeno starting with one or three Wendy when you say when you open up the Bitcoin addresses you'll see that a key okay so these are the typically to one side which are used most frequently okay this is a kilogram another one pay to public key this is a simplified form of paid to public key this is not commonly used in new transitions anymore because are not all very secure a more secure okay and paid to script hash scripts that contain the hash of another script called redeem script you don't have to really understand descripting in all the kilogram that's just for fYI with the more the concept is actually more about D how the transitions are formed and how the probably we have a tree wallet sake if it shows that he spent an unspent outputs against for all the in your wallet for all the transition which have been happening a clear in your wallet so if you have to see what are your unspent output you have to go to the unspent wallet and under the S band spent output a glee of your wallets or and probably for spend what does the amount of spend you have to go to this pen to a a part of your wallet okay that's where the transactions will be listed okay so and then Akhil like how these transaction happens is using the scripting language that is what we just talked about okay and then it'll ignore these are the ways of doing the transactions that you know most common scripting types active which are used a key to make the transition happens way to public key and shorter a pay to multi sign so may to multi sign has acidity the address starts with three here the addresses would start for with one in case you want to send e probably money or exchange the money actually no one recipient to other recipient by looking at the addresses you can make out at you know what is the address based on the starting of the address you can make out what is the kind of hash which is used this is a public key hash or is a multi sign hash okay so notes in Bitburg Bitcoin network let's see if you what are the various nodes in Bitcoin network so we haven't laid two nodes typically rune selfish nodes these are nodes circulating which are rope a prune node is no decree that prunes will ignore raw raw block and undo data by deleting its deleting it from disk this can be achieved to save disk space a selfish Bitcoin node is a node that does not upload new blocks or transition to other Bitcoin peers in the network archival selfish nodes and archival node is a full node that stores a complete copy of the Bitcoin data on disk with this data the archival no decay operator can make queries against the blockchain to find information pertaining to particular transactions or addresses so prove notes I kill ignore selfish notes akela can typically like a CF if you really look at it a kilo make know if you have Achilles lightweight wallets or nodes okay or probably the web wallets okay these are nothing but a cleanup ruined selfish full nodes okay a big number you don't maintain the history of all your transitions on to the node okay you will just maintain a clear the history of probably your own set of transitions if required and you'll maintain Italy nothing but a que no but you still have a view of all deep right you still have a view of the problem if in case you want to know if you whatever transition is happening on the network you can get that view of all the transitions is happening on the network as well and here you enjoyed learning from this video please like the video and if you have any doubts regarding this video please comment us in the comment section and don't forget to subscribe to our channel for more such informative videos to look out for other related videos in our playlist for more information visit our website now keep learning with 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