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In Satoshi Nakamoto's diagram:

enter image description here

I understand this diagram is dated--but please bear with me. I think I have missed a critical point of the diagram:

Question: Let's assume that the three transactions depicted are #1, #2, and #3 from left to right.

Is the Signature for Transaction #2 computed using Owner 1's Private Key and the Transaction data for Transaction #1 or is it computed using Owner 1's Private Key and the Transaction data for Transaction #2?

Thank you.

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Question: Let's assume that the three transactions depicted are #1, #2, and #3 from left to right.

Is the Signature for Transaction #2 computed using Owner 1's Private Key and the Transaction data for Transaction #1 or is it computed using Owner 1's Private Key and the Transaction data for Transaction #2?

The Signature for Transaction #2 is computed using Owner 1's Private Key and the Transaction data for Transaction #2.

  • That is fantastic. Nothing about the diagram told me for sure what's going on and I needed confirmation. At one point in my learning I thought that it was transaction #1 that was being signed and that transaction #1's signature was stored in transaction #2. I am glad you set me straight (once again). Thank you. – Jazimov Jun 16 '18 at 4:12

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