How does bitcoin work? 🤔

The idea behind BTC 💰 by its creator Satoshi Nakamoto was to build a payment system without intermediaries, where the payments take place directly between users (sender and receiver) 📥

Each BTC transaction in the main network passes through 7 stages:
▪️ Selection of the recipient, transfer amount and commission.
▪️ The sender signs the transaction with a private key and sends it.
▪️ Nodes checks the eligibility of the transaction and sends it to the miners.
▪️ The miners add the transaction to the block.
▪️ The miners calculate the hash of the new block.
▪️ The new block is verified and added to the blockchain.
▪️ Nodes add the new block to their copy of the blockchain.

Knowing the algorithm gives the understanding that:
▪️ Nodes can only skip a transaction if you don't have the right amount in BTC.
▪️ Miners can delay processing a transaction, but are unable to cancel it.