Step 4. Decode Raw Transaction

Explanation

The output of createrawtransaction was a raw hex string. We can confirm everything processed correctly by using the decoderawtransaction command.

Command

We will use decoderawtransaction.

Command Parameters:

decoderawtransaction "hexstring"

Arguments:

1. "hexstring"      (string, required) The transaction hex string

Execute command

decoderawtransaction 02000000011c702bc8d57cdb9b33eef68e6c56c147cdcfd246be01e54eb5c832da7ba287e70000000000ffffffff02c0c62d000000000017a914f20fe211102535e3c37bb0e659099387ddc035b58730c11d000000000017a91454ad1e8953876c90d3fc15798c687835ab3d3aee8700000000

Result

{
  "txid": "655419a854bdb808fb7cc3a68b8aab372e944ca028001ea247cead3ed00472eb",
  "hash": "655419a854bdb808fb7cc3a68b8aab372e944ca028001ea247cead3ed00472eb",
  "version": 2,
  "size": 115,
  "vsize": 115,
  "locktime": 0,
  "vin": [
    {
      "txid": "e787a27bda32c8b54ee501be46d2cfcd47c1566c8ef6ee339bdb7cd5c82b701c",
      "vout": 0,
      "scriptSig": {
        "asm": "",
        "hex": ""
      },
      "sequence": 4294967295
    }
  ],
  "vout": [
    {
      "value": 0.03000000,
      "n": 0,
      "scriptPubKey": {
        "asm": "OP_HASH160 f20fe211102535e3c37bb0e659099387ddc035b5 OP_EQUAL",
        "hex": "a914f20fe211102535e3c37bb0e659099387ddc035b587",
        "reqSigs": 1,
        "type": "scripthash",
        "addresses": [
          "2NFK8YHKT6hPPTDKTPP3c5bx7oPGrYhzj2y"
        ]
      }
    },
    {
      "value": 0.01950000,
      "n": 1,
      "scriptPubKey": {
        "asm": "OP_HASH160 54ad1e8953876c90d3fc15798c687835ab3d3aee OP_EQUAL",
        "hex": "a91454ad1e8953876c90d3fc15798c687835ab3d3aee87",
        "reqSigs": 1,
        "type": "scripthash",
        "addresses": [
          "2Mzxx8wGAmQQyCCrb2vXP4yxaYY9s9nepfy"
        ]
      }
    }
  ]
}

That checks out. Our new transaction used the UTXO from our confirmed transaction and generated 2 outputs - 0.030 BTC that was sent to the new address and 0.0195 BTC back as change. Any remainder, 0.0005 BTC, is used for the Transaction Fee.

Sum(Inputs) - Sum(Outputs) = Transaction Fee

(0.050 BTC) - (0.030 BTC + 0.0195 BTC) = 0.0005 BTC