We have learned the basic concepts and components of Hyperledger Fabric. In this section, we will explore the basic transaction flow in greater detail. We have outlined the high-level transaction flow as follows:

The detailed steps are as follows:

1. The client signs and initiates a transaction proposal to one or more endorsers for execution.
2. Endorsing peers verify the signature, simulate the proposal, and execute the operation on the specified chaincode. The endorser produces a writeset and a readset of keys during the simulation. The endorsing peers send back the signed proposal responses (endorsements) to the client.
3. The client collects and verifies the endorsements until the endorsement policy of the chaincode is satisfied with producing the same result. The client then creates a transaction and passes it to the ordering service.

4. The ordering service creates blocks and delivers the blocks of transactions to all peers on the channel. The peers validate transactions to ensure that the endorsement policy is satisfied and to ensure that there have been no changes to the ledger state since the proposal response was generated by the transaction execution.
5. After successful validation, the block is committed to the ledger. Once the ledger blockchain is updated, the world state is updated too. The client can detect the status change via event handling.