Ideas in this flowchart

• Bitcoin's blockchain records the history and validation of bitcoin transactions.
• It is a continuously growing chronological chain of blocks.
• Each block contains transactions that occurred around the same time.
• The sequence records balances and identifying information for every created, spent, or received bitcoin and fraction of a bitcoin.
• A payment initially remains pending.
• Miners place the payment in a block.
• The network confirms the block containing the payment.
• The transaction becomes authenticated and effectively irreversible.