transaction [English]

InterPARES Definition

No definition in earlier IP projects. ITrust definition not yet developed.

Other Definitions

  • Bitcoin Wiki Vocabulary [2017] (†796 s.v. "Transaction"): A transaction is a transfer of Bitcoin value that is broadcast to the network and collected into blocks. A transaction typically references previous transaction outputs as new transaction inputs and dedicates all input Bitcoin values to new outputs. Transactions are not encrypted, so it is possible to browse and view every transaction ever collected into a block. · Standard transaction outputs nominate addresses, and the redemption of any future inputs requires a relevant signature. · All transactions are visible in the block chain, and can be viewed with a hex editor. A block chain browser is a site where every transaction included within the block chain can be viewed in human-readable terms. This is useful for seeing the technical details of transactions in action and for verifying payments.
  • ISO TC307 N38 (United States). 2017. (†834 s.v. "Transactions"): Transactions are records that are appended to the ledger. The transactions could record the exchange of ownership for anything of value such as stocks, bonds, commercial paper, diamonds etc. Other use cases could include changes to medical records or critical device status in an IoT example.
  • Wood 2014 (†803 s.v. Appendix A. Terminology): A piece of data, signed by an External Actor. It represents either a Message or a new Autonomous Object. Transactions are recorded into each block of the blockchain.

Citations

  • Buterin [2017] (†818 s.v. "Conclusion"): The Ethereum protocol would not "support" any of the applications directly, but the existence of a Turing-complete programming language means that arbitrary contracts can theoretically be created for any transaction type or application. (†2285)
  • Condos et al. 2016 (†819 p.6): To add a block to a chain, parties broadcast to the network the details of the transaction, and nodes verify these transactions...Once a node has verified the prescribed number of transactions, and solves additional computational problems dictated by the protocol, that block can be added to the chain. (†2275)
  • Walport 2016 (†802 p.27): A block chain technology can help by showing the chain of transactions (reconciliation through cryptography), and the actors involved, in a way that is transparent to a regulator. In addition, auditing this data is expensive and happens after the trade has taken place. (†2277)
  • Wood 2014 (†803 p.4 ; s.v. "4.3 The Transaction"): A transaction (formally, T) is a single cryptographically-signed instruction constructed by an actor externally to the scope of Ethereum. While is assumed that the ultimate external actor will be human in nature, software tools will be used in its construction and dissemination. There are two types of transactions: those which result in message calls and those which result in the creation of new accounts with associated code (known informally as `contract creation'). (†2287)