Representations - Transactions

WebWallet Transactions are documents that describe operations on numeric counters, without executing the operations themselves. They contain all information required to modify the values of two or more counters according to the transaction clearing rules, but the actual process of executing the operations listed in a transaction document is called transaction clearing.

Transaction documents contain two main properties: inputs and outputs. Transaction inputs (IOUs) contain the instructions for performing operations on counters, along with the digital signatures that authorize them to be executed. Transaction outputs contain the results of those operations, which can by cumulative by referencing previous results as starting points.

Transaction document structure:

{
  "hash": {
    "val": "transaction-hash"
    ...
  },
  "data": {
    "inputs": [...],
    "outputs": [...]
    ...
  },
  "sigs": []
}