---
# System prepended metadata

title: Untitled

---

```meta
type: page
title: Transaction Structure & Lifecycle
permalink: /guide/payments/transactions
file: /guide/transactions/index.md
```

### Problem

Bitcoin doesn't use accounts, instead it uses Unspent Transaction Outputs. A bitcoin transaction can be constructed by a single person, or in collaboration with others. All wallets and most other bitcoin experiences interface with on-chain transactions, but UTXOs model of bitcoin can be difficult to understand. 

### Solution
**NOTE**: This page would serve as a foundations page for designers to understand the underlying technology - similar to the technology primer in getting started. As a foundation page it is not the aim to provide a user flow for payments in the context of commerce.

Proposed structure for a page that communicates bitcoin transactions to designers through the lens of the [PSBT format](https://github.com/bitcoin/bips/blob/master/bip-0174.mediawiki) which is a standard filetype and data structure.

#### Assumptions about the reader
1. Has read the technology primer
2. Knows about bitcoin units (satoshis are used in examples)

### Result

- [Preview draft on site](https://deploy-preview-84--sad-borg-390916.netlify.app/guide/transactions/introduction/)