The Bitcoin blockchain functions like a global, public bookkeeping ledger. For every transaction, it permanently records three key pieces of information: the sending address(es), the receiving address(es), and the amount of Bitcoin transferred<sup><a href="#ref5">5</a></sup>. Imagine a bank that publishes every single transfer, showing the account numbers of the sender and receiver and the exact amount, but without listing the account holders' names. In a simplified graph:
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