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more than 4 weeks ago

How does money move in the blockchain?

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more than 4 weeks ago
In a blockchain network, money moves through a series of transactions that are recorded on a public ledger. When a user initiates a transaction, it is broadcasted to the network and verified by a network of computers known as nodes. Once the transaction is verified, it is added to a block of transactions and added to the blockchain.

Each transaction includes information such as the sender's wallet address, the recipient's wallet address, and the amount of money being transferred. This information is encrypted and stored on the blockchain, making it secure and tamper-proof.

The movement of money in the blockchain is facilitated by the use of digital wallets, which store the user's private keys that are used to sign and authorize transactions. These wallets also keep track of the user's balance and transaction history.

Overall, money moves in the blockchain through a decentralized and transparent process that ensures security and immutability of transactions.
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