A bit shorter explanation from me: http://perlalchemy.blogspot.com/2011/05/bitcoin-protocol-highlevel-explanation.html http://perlalchemy.blogspot.com/2011/05/b

A bit shorter explanation from me: http://perlalchemy.blogspot.com/2011/05/bitcoin-protocol-highlevel-explanation.html http://perlalchemy.blogspot.com/2011/05/bitcoin-protocol-hig... Not so detailed - but I think it covers the main mechanics.