Details of Bitcoin
BITCOIN (CRYPTOCURRENCY) what is bitcoin: Bitcoin is a form of digital currency, created and held electronically. This puts some people at ease, because it means that a large bank can’t control their money. No one controls it. However, bitcoin’s most important characteristic, and the thing that makes it different to conventional money, is that it is decentralized. No single institution controls the bitcoin network. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems. How bitcoin works: Bitcoin transactions are messages, like email, which are digitally signed using cryptography and sent to the entire Bitcoin network for verification. Whether you are spending or accepting bitcoin as payment, it is prudent to understand how a transaction works. Whether you are spending or accepting bitcoin ...