What is a blockchain transaction?

A blockchain-based
transaction system enables
almost instant payments
to anywhere in the world,
across borders and without
the standard costs of forex.
In addition, all transactions
are visible and traceable to
all interested parties, at any
moment. The blockchain is
essentially a ledger listing all
the transactions that have
ever taken place on it.
Rather than being stored
in a single place, like a
bank, copies of it are kept
by nodes all over the world.
Whenever anyone wants
to make a transaction, the
request is sent out to all
the copies at once and,
once each node confirms
the transaction using a
mathematical answer and
sum system to prove it, the
ledger is updated across all
copies.
Because the maths is
so complicated and the
blockchain is so widely
distributed, cheating it or
falsifying information is
so difficult that to perform
even one single fraudulent
transaction would require
the fraudster to own and
control more than 50% of
all the computers tasked
with processing and verifying
transactions and even then
they would only stand a 25%
of success before they’d be
caught and ‘corrected’ by
the rest of the network.