hello. I would like to know if they use blockchain and if I have to pay transaction fees.

adminJanuary 6, 2024

I think it was blockchain(…) Can I get a commission?

Small B Blockchain

The word blockchain with a lowercase “b” usually refers to the list of all Bitcoin transactions in the world since inception. This is a chain of blocks (like a book made up of pages). All full Bitcoin nodes, including wallets that use software such as Bitcoin Core, keep a copy of this list, called the blockchain.

Since this list is not an individual, business or organization of any type, we cannot charge a fee or anything like that.

When you use your wallet to spend money, the wallet collects a sufficient amount of money as “inputs” to “output” the desired payment. Your wallet will hold the additional amount you choose. transaction fee. Transaction fees are paid to miners. Miners cannot take money or charge fees, they can only collect the fees you set when creating the transaction. If you have any money left over inputs - output - transaction-feeYour wallet specifies an additional output that returns these “changes” back to you.

Select your transaction fee amount. Smaller fees mean it takes miners longer to include in new blocks and exhaust better paying transactions to include your block. No one can change your transaction to add fees.

Additionally, it is not possible to receive only a portion of the amount specified by the sender as the output amount. They get the full amount when the transaction is confirmed, or they get nothing if the fee is so low that the transaction is not confirmed. In this case, you still have money.

Big B Blockchain

There is at least one company that has chosen to include the word blockchain in its name. This is Blockchain.com, Inc. They have used different company names in the past. They are not in charge of Bitcoin and they are not in charge of blockchain. Many Bitcoin users do not use this business at all. There is no other business like it.

Although Bitcoin is designed to be used without engaging in these types of businesses, many people choose to donate money to take care of these types of businesses.

The business may charge you any fees it chooses, and depending on the legal jurisdiction in which you reside, such fees must be described in the terms and conditions document it provides to its customers.