What is Bitcoin ?
Bitcoin is a digital currency that was created in January 2009 . It follows the idea set out in a whitepaper by the mysterious and pseudonymous Satish nakamoto . The identify of the person or person who created the technology is a my story . bitcoin offer the promises of lower transaction fees that traditional online payment mechanism . and un-like government issued currencies , it operated by decentralized authority .
Bitcoin is a type of cryptocurrency .There are no physical bitcoin , only balance kept on public ledger that everyone has transparent access . All the bitcoin transaction are verified by massive amount of computing power .
Understand of Bitcoins
The bitcoin system is collected of computers ( also referred to as "Node" or "Miners" ) that all the run bitcoin's code and store it's blockchain. a block chain can be thought of a collection of blocks . In each block is a collection of transaction . Because all the computer running the block chain has the same list of block and transaction
Peer-to-peer Technology
bitcoin is a first general technology to used peer-to-peer technology to facilities instant payments . The depend individual companies who own the governing commutating power and participate in the bitcoin .
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This article is contributed by Mohd Abuzar . if you like code with abuzar and would like to contribute you can also write an article or mail at abuzar.abuzar.mohd325@gmail.com .
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