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CH02::common tx forms: introduce technical terms

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- *consolidation transaction_ for what was previously called an
  aggregating transaction

- *payment batching* for paying multiple outputs
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David A. Harding 2023-02-04 12:38:13 -10:00
parent e458e803cd
commit fa7a385c83
1 changed files with 13 additions and 15 deletions
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@ -296,28 +296,26 @@ balance.
==== Common Transaction Forms ==== Common Transaction Forms
The most common form of transaction is a simple payment from one address A very common form of transaction is a simple payment. This type of
to another, which often includes some "change" returned to the original transaction has one input and two outputs and is shown in
owner. This type of transaction has one input and two outputs and is <<transaction-common>>.
shown in <<transaction-common>>.
[[transaction-common]] [[transaction-common]]
.Most common transaction .Most common transaction
image::images/mbc2_0205.png["Common Transaction"] image::images/mbc2_0205.png["Common Transaction"]
Another common form of transaction is one that aggregates several inputs Another common form of transaction is a _consolidation transaction* one that spends several inputs
into a single output (see <<transaction-aggregating>>). This represents into a single output (see <<transaction-consolidating>>). This represents
the real-world equivalent of exchanging a pile of coins and currency the real-world equivalent of exchanging a pile of coins and currency
notes for a single larger note. Transactions like these are sometimes notes for a single larger note. Transactions like these are sometimes
generated by wallet applications to clean up lots of smaller amounts generated by wallets and business to clean up lots of smaller amounts.
that were received as change for payments.
[[transaction-aggregating]] [[transaction-consolidating]]
.Transaction aggregating funds .Transaction aggregating funds
image::images/mbc2_0206.png["Aggregating Transaction"] image::images/mbc2_0206.png["Aggregating Transaction"]
Finally, another transaction form that is seen often on the bitcoin 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 <<transaction-distributing>>). representing multiple recipients (see <<transaction-distributing>>).
This type of transaction is sometimes used by commercial entities to This type of transaction is sometimes used by commercial entities to
distribute funds, such as when processing payroll payments to multiple 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 Bob can now spend the output from this and other transactions. For
example, Bob can pay a contractor or supplier by transferring value from 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 Alice's podcast payment to these new owners. Bob's bitcoin
software will aggregate many small payments into a larger payment, software might consolidate many small payments into a larger payment,
perhaps concentrating all the day's bitcoin revenue into a single perhaps concentrating all the day's bitcoin revenue into a single
transaction. This would aggregate the various payments into a single transaction. This would consolidate the various payments into a single
output (and a single address). For a diagram of an aggregating output (and a single address). For a diagram of a consolidation
transaction, see <<transaction-aggregating>>. transaction, see <<transaction-consolidating>>.
As Bob spends the payments received from Alice and other customers, he 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 extends the chain of transactions. Let's assume that Bob pays his web