More Examples
“During transactions, Bitcoin clients automatically process any leftover change.”
“I bought a candy bar and received a little change back.”
“I paid 1.00 BTC for something that cost 0.75 BTC and got 0.25 BTC change back.”
Definition(s) from the Web
- When the output of a transaction is used as the input of another transaction, it must be spent in its entirety. Sometimes the coin value of the output is higher than what the user wishes to pay. In this case, the client generates a new Bitcoin address, and sends the difference back to this address. This is known as change. Say you want to buy a candy bar ($1) from a store. You open your wallet (fiat wallet) and inside there is a single $20 bill. What is the minimum amount you can pay? It isn’t $1; you can’t rip up 1/20th of the bill and give it to the cashier. You need to pay $20 and since you only owe $1, the cashier gives you back $19. Source
- The change in blockchain is when the client generates a new Bitcoin address, and sends the difference back to this address. When the output of a transaction is used as the input of another transaction, it must be spent in its entirety. Sometimes the coin value of the output is higher than what the user wishes to pay. Source
