Bitcoin transaction: From the creation to validation, a protocol overview

Abstract

In the last decade, we have seen the emergence of the Bitcoin crypto-currency, where the Blockchain technology builds trust transaction after transaction through a validation process. Academics focused their research on security flaws or improvement, but we identify a lack of literature on how the validation of transaction and block proceeds. In fact, understanding the validation will help the conception of new blockchain features and allow users to recognize all security risks. This paper aims at a deep comprehension and detailed analysis of the validation in the Bitcoin protocol.