What’s a pull-based transaction mannequin? What’s a push-based transaction mannequin?
I’ve heard individuals describe bitcoin as a push-based transaction mannequin.
I’ve heard individuals describe conventional monetary transactions (eg IBAN/SEPA, ACH, bank card, and so on) as pull-based.
This elementary distinction seems to me to be one of the vital essential options of bitcoin over conventional monetary cash transfers, however I’ve struggled to search out a lot data on the Web that explains these variations and why it issues to the safety of funds in long-term storage.
I am searching for a easy (but thorough) clarification of those two distinct transaction fashions. Ideally, I would like an infographic that footwear visually the distinction between [a] giving your credentials to another person and permitting them to take funds out of our account (pull-based) vs [b] utilizing uneven cryptography; conserving the keys to your self, and sending transactions to others (push-based).
