What is the process for verifying transactions on the blockchain when using a wallet for storing my Bitcoins cash (e .g. SegWit)?
The process for verifying transactions on the blockchain when using a wallet for storing Bitcoin Cash (e.
g. SegWit) is as follows: 1. When a user wants to send Bitcoin Cash, they will create a transaction and broadcast it to the network.
2. The transaction is then verified by miners who will check that the sender has enough funds in their wallet to cover the amount being sent, and that the transaction is valid according to the rules of the Bitcoin Cash protocol. 3.
Once a miner has verified the transaction, they will add it to a block of transactions and broadcast it to other miners in the network. 4. Other miners will then verify that all transactions in the block are valid and add them to their own copies of the blockchain ledger.
5. Once all miners have added the block of transactions to their ledgers, it is considered confirmed and can no longer be reversed or changed. 6.
Finally, when a user receives Bitcoin Cash from another user, their wallet will check that all transactions in the block are valid before adding them to its own copy of the blockchain ledger and crediting them with their funds.
