Bitcoin has grown from an idea shared in an online cryptography mailing list into one of the world's most recognized financial innovations. What began as an experiment in decentralized digital money has influenced technology, finance, investing, regulation, and even politics.

If you've ever sent cryptocurrency from one wallet to another, you've probably wondered what actually happens after you click "Send." While the process may seem instant from the user's perspective, a blockchain transaction goes through several important steps before it becomes a permanent part of the blockchain.

Blockchain is often described as a decentralized technology, but not every blockchain is decentralized to the same degree. Some networks are highly distributed across thousands of participants worldwide, while others rely on a relatively small number of organizations to validate transactions and make decisions.