When a transaction is broadcast to the network, what is actually being sent? When a transaction is broadcasted to the network, what is being sent? Is it a hash? if yes, is it going to be the hash of: previous transaction + public key of the receiver?
Client creates a new transaction, adds it to its memory pool
Client broadcasts an inv frame, which indicates that it has something in its memory pool, by giving the hash of the transaction to one or more connected peers
Peer receives inv frame, checks its own memory pool, it's not in there, so it sends a getdata frame back
Client receives a getdata frame for the transaction it just created, so it sends a tx with the entire transaction
Peer receives the tx, hashes it and puts it in the memory pool
Peer now has something new in the memory pool, and broadcasts an inv to all connected peers
Client gets an inv frame, notices that it's already in the memory pool, and ignores it
Another client gets the inv frame as well, getdata's it, stores the tx, sends inv, and repeat that until the entire network has the transaction.


References :


tx frame
inventory vector
getdata