I am making an attempt to grasp the Bitcoin transaction creation course of and the way inputs and outputs work. From what I do know, when a person creates a Bitcoin transaction, they sometimes choose UTXOs (Unspent Transaction Outputs) as inputs to the transaction.
Given this, it appears that evidently the quantity of the transaction is implicitly decided by the UTXOs chosen, for the reason that sum of the inputs is what will get spent. In different phrases, the overall quantity of Bitcoin being despatched can be primarily based on the worth of the UTXOs used within the inputs, whereas the person does not have to explicitly specify the quantity.
Is that right? Does the person really want to specify the quantity in any respect, or is it totally decided by the chosen UTXOs? And if there’s any distinction, what’s the function of specifying the quantity in some pockets interfaces?
I am making an attempt to grasp the Bitcoin transaction creation course of and the way inputs and outputs work. From what I do know, when a person creates a Bitcoin transaction, they sometimes choose UTXOs (Unspent Transaction Outputs) as inputs to the transaction.
Given this, it appears that evidently the quantity of the transaction is implicitly decided by the UTXOs chosen, for the reason that sum of the inputs is what will get spent. In different phrases, the overall quantity of Bitcoin being despatched can be primarily based on the worth of the UTXOs used within the inputs, whereas the person does not have to explicitly specify the quantity.
Is that right? Does the person really want to specify the quantity in any respect, or is it totally decided by the chosen UTXOs? And if there’s any distinction, what’s the function of specifying the quantity in some pockets interfaces?
