Describe the operations involved in sending bitcoin.
Bitcoin wallets don't have a balance in the conventional sense. Instead it keeps track of all the previously received UTXOs. The balance applications usually show is actually a total of those UTXOs controlled by the private key to spend.
Because of this structure, choosing to optimise for privacy, lower transaction fees, or speed are things you need to consider when designing a payment experience. Your choice will directly impact the amount of steps the user needs to make.
You will also need to consider what environment the application will be used in. If you are paying a vendor at your local market you probably won't have their contact details to exchange a payment request via chat. Scanning a QR Code to get an address would likely make more sense in this situation also than manually typing it.
Operations
- Receiving a payment request
- Inputing the address
- Inputting the amount to send
- Adjusting the fee
- Reviewing the payment and approval
- Processing
- Confirmation
Describe the operations involved in sending bitcoin.
Operations