Change Parameters in Bitcoin Transfer API

Recently, I was studying how to send bitcoins through the API, and saw the following sample code:

 var transaction = new Transaction() 
  
  .from(UXTOs) // Provide information about unspent transaction outputs that can be used unspent transaction outputs, UTXOs 
  
  .to(receivingAddress, amount) // Add an output for a specified amount of satoshis. change(changeAddress) // Set a change address to send remaining funds to. sign(privateKey) // Key signature

How to understand the Change parameter used here – specify a change address?

In the JavaScript code above, UXTOs are used to send bitcoins from one address to another. How do I interpret the “change” parameter, where I need to specify where the remaining funds go?

The change method is used to specify the whereabouts of the remaining funds of the transaction, which are the remaining funds after deducting the transaction amount and transaction fees.

When sending bitcoins, the inputs to the transaction are usually unspent transaction outputs (UTXOs) from previous bitcoin transactions, which are essentially unspent funds from previous bitcoin transactions. The from method is used to specify the wallet address to use as transaction input.

The to method is used to specify the recipient address and the amount of bitcoins to send to that address. The change method is used to specify the wallet address for change, that is, the Bitcoin address of the remaining funds after deducting the transaction amount and fees.

For example, suppose you want to send 0.1 BTC to a recipient address and you have 0.2 BTC in your input address. The to method will specify the recipient address and 0.1 BTC, the change method will specify your change address, and the remaining 0.1 BTC will be sent to that bitcoin wallet address.

address is the change address to which the remaining funds will be sent after deducting the transaction amount and fees. This Bitcoin wallet address should be one that you control and have access to the private key to use the remaining funds later if needed.

If I don’t specify a change address, will I lose the remaining 0.1 BTC?

Yes, if you do not specify a change address, the remaining funds entered after deducting the transaction amount and fees will be lost. In the example I gave earlier, if you didn’t specify a bitcoin change address, the remaining 0.1 BTC would be lost.

When sending Bitcoin transactions, it is important to always specify a change address to ensure that any remaining funds are returned to a wallet address you control. The change address should be a bitcoin wallet address that you can access (have the private key to) to use the remaining funds later if needed.

It’s worth noting that some bitcoin wallet software may automatically handle the change address for you. However, if you write your own transaction code, be sure to specify a change address in the transaction to avoid losing any remaining funds.

English: Remember to Specify the Change Address Parameter when Sending Funds from One Bitcoin Wallet to Another Address

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