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BITCOIN

A ELECTRONIC CURRENCY WIDELY USED NOW A DAYS

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BITCOIN

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  1. Pseudonymous: Neither transactions or accounts are connected to real- world identities. You receive Bitcoins on so-called addresses, which are randomly seeming chains of around 30 characters. Fast and global: Transaction is propagated nearly instantly in the network and are confirmed in a couple of minutes. Since they happen in a global network of computers they are completely indifferent to your physical location. Secure: Bitcoin funds are locked in a public key cryptography system. Only the owner of the private key can send cryptocurrency. Strong cryptographic technology and the magic of big numbers make it impossible to break this scheme. Permissionless: You don‘t have to ask anybody to use cryptocurrency. It‘s just a software that everybody can download for free. After you installed it, you can receive and send Bitcoins or other cryptocurrencies. No one can prevent you from transacting with your own money. There is no gatekeeper.

  2. BITCOIN DEFINITION Bitcoin is a cryptocurrency, a form of electronic money. It is a decentralized digital currency without is independent of banks and can be sent from user to user on the peer-to-peer bitcoin blockchain network without the need for intermediaries. MEDIUM TEXT Bitcoin is either virtual currency or reference to the technology. You can make transactions by check, wiring, or cash. You can also use Bitcoin (or BTC), where you refer the purchaser to your signature, which is a long line of security code encrypted with 16 distinct symbols. Bitcoin Transactional properties: Irreversible: After confirmation, a transaction can‘t be reversed. By nobody. And nobody means nobody. Not you, not your banks,

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