Leicester

that there's acknowledgement of each transaction.

So when you go in your wallet and you sign for something, you approve something, you are telling the chain, yes, I am saying that this is my transaction.

Yes, I'm authorizing to do this transaction, whether that's connected to an application, whether it's sending crypto to somebody, whether it's receiving it,

unless the receiver is an asynchronous, which is a different thing.

I won't get into here.

Point is that there's that first acknowledgement.

You are acknowledging I'm making a transaction.

I want to commit it up.

When your transaction goes up, we'll talk about proof of work because I think it's easier to, for people to understand it.

When you put your transaction up there, there are a whole set of miners and by end E R S out there, and they're looking for blocks.

work and as part of the working of blocks they are rewarded in whichever token say bitcoin sure inside the block are a number of transactions yours included that all get then processed usually there's acknowledgements so there's one person finds it they process it and say this is a transaction that i'm committing

then ultimately multiple are also finding the same.

And then there's computations and calculations that occur in order to do what's being asked.

And then there's precision and other things we will not get into here.

Suffice to say, there's a consensus that generally goes along with this, that I'm describing to you, which that purpose is to ensure the integrity of the transaction prior to it being fully committed on the chain.

This is why,

Sometimes you'll do a transaction and it'll say, like, say if you're buying something online or using cryptocurrency and you send it, it'll say, we're waiting for this many confirmations.

That's how many times somebody, one of these have checked in to say, it's good.

It's good.

And they'll ask for like two or three or something sometimes up to like 10 or 20, but usually it's like two or three just to check in, to make sure that it's really committed and it's not going to get rolled back, which is rare, but could.