More About Bitcoin (BTC)

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What is Bitcoin?

With the bitcoin price so volatile everyone curious.Bitcoin is extremely complicated and no one defination fully encapsulates it. By analogy it is like being able to send a gold coin via email.
it is decentralized peer-to-peer payment network that is powered by its user no central authority or middleman. Bitcoin was a first implimentation  and its currently the most prominent triple entry bookkeeping system is existence.

What is Stoshi?

A Satoshi is a smallest fraction of a bitcoin that can currently be sent 0.00000001 BTC,that is, hundered of a millionth BTC.

 

Who created Bitcoin?

The first bitcoin specification and proof of concept was published in 2009 by an unknown individual under the pseudonym satoshi nakomoto who revealed little about himself and left the project in late 2010.the bitcoin community  has since grown expotentially.

 

Who control the Bitcoin Network?

Nobody owns bitcoin network much like no one owns the technology behind email or the internet.Bitcoin transaction are verified miners.while developing improving the software they cannot force a change in the bitcoin protocol because all users are to choose what software and version they use.

How does Bitcoin work?

From a user perspective, Bitcoin is nothing more than a mobile app or a computer that provide a personal Bitcoin Wallet address and unable user to send and receive bitcoin.
Behind the scene,the bitcoin network sharing a massive public ledger called the  https://blockchain.info. This ledger contains every transaction eve processed which enable a user computer to verify the validity o each tranaction. The authenticity of each transaction is protected by digital signature corresponding to the sending addressess therefore allowing all user to have full control over sending bitcoin. 

 We can also see the current bitcoin price through this link:

http://preev.com



About the author

talha-chohan

i am a BTC follower.....

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