diff --git a/ch02.asciidoc b/ch02.asciidoc index 627095b7..d0f8fa2d 100644 --- a/ch02.asciidoc +++ b/ch02.asciidoc @@ -296,28 +296,26 @@ balance. ==== Common Transaction Forms -The most common form of transaction is a simple payment from one address -to another, which often includes some "change" returned to the original -owner. This type of transaction has one input and two outputs and is -shown in <>. +A very common form of transaction is a simple payment. This type of +transaction has one input and two outputs and is shown in +<>. [[transaction-common]] .Most common transaction image::images/mbc2_0205.png["Common Transaction"] -Another common form of transaction is one that aggregates several inputs -into a single output (see <>). This represents +Another common form of transaction is a _consolidation transaction* one that spends several inputs +into a single output (see <>). This represents the real-world equivalent of exchanging a pile of coins and currency notes for a single larger note. Transactions like these are sometimes -generated by wallet applications to clean up lots of smaller amounts -that were received as change for payments. +generated by wallets and business to clean up lots of smaller amounts. -[[transaction-aggregating]] +[[transaction-consolidating]] .Transaction aggregating funds image::images/mbc2_0206.png["Aggregating Transaction"] Finally, another transaction form that is seen often on the bitcoin -ledger is a transaction that distributes one input to multiple outputs +ledger is _payment batching_ that pays to multiple outputs representing multiple recipients (see <>). This type of transaction is sometimes used by commercial entities to distribute funds, such as when processing payroll payments to multiple @@ -711,12 +709,12 @@ thus providing assurance that the miners accepted it as valid. Bob can now spend the output from this and other transactions. For example, Bob can pay a contractor or supplier by transferring value from -Alice's podcast payment to these new owners. Most likely, Bob's bitcoin -software will aggregate many small payments into a larger payment, +Alice's podcast payment to these new owners. Bob's bitcoin +software might consolidate many small payments into a larger payment, perhaps concentrating all the day's bitcoin revenue into a single -transaction. This would aggregate the various payments into a single -output (and a single address). For a diagram of an aggregating -transaction, see <>. +transaction. This would consolidate the various payments into a single +output (and a single address). For a diagram of a consolidation +transaction, see <>. As Bob spends the payments received from Alice and other customers, he extends the chain of transactions. Let's assume that Bob pays his web