Transaction Verification Process

The transaction verification process on DKPChain is a critical step in ensuring the security and effectiveness of transactions. This process consists of several steps:

Digital Signature Verification

Each transaction includes a digital signature from the sender. This signature is generated using the sender's private key and can be verified using the corresponding public key. The verification of the digital signature ensures the authenticity and non-repudiation of the transaction.

Account Status Check

Transaction verification also involves checking the status of the sender's account to ensure it has a sufficient balance to complete the transaction. This step prevents issues such as account overdrafts and double spending.

Smart Contract Execution

If the transaction involves a smart contract, the contract's code is executed during the transaction verification process. This includes checking the correctness of the contract logic and the validity of the execution results.

Transaction Fee Calculation

The transaction verification process also includes calculating the transaction fee. This fee is determined based on the complexity of the transaction and the network congestion and is paid by the sender.

Transaction Added to a Block

Once the transaction passes verification, it is added to a new block, awaiting being packaged and added to the blockchain by miners or verification nodes.