Bitcoin: The Ultimate Guide To Understanding Bitcoin, Cryptocurrency, and Blockchain Technologies

Name: Bitcoin: The Ultimate Guide To Understanding Bitcoin, Cryptocurrency, and Blockchain Technologies
Rating: 5 (1 reviews)

ISBN-10: 1979808341
ISBN-13: 9781979808347
Series: Bitcoin
Pages: 67
Language: English
Published: 2017-11-17
Publisher: Level Up Lifestyle Limited
Author: Tim Mathis

Description

Bitcoin is a digital currency created in 2009 that uses decentralised technology for secure payments and storing money that doesn't require banks or people's names. It was announced on an email circular as a way to liberate money in a similar way to how the internet made information free. Bitcoin works on a public ledger called blockchain, which holds a decentralised record of all transactions that is updated and held by all users of the network. To create bitcoins, users must generate blocks on the network. Each block is created cryptographically by harnessing users' computer power and is then added to the blockchain, letting users earn by keeping the network running. A limit for how many bitcoins can be created is built into the system so the value can't be diluted. The maximum amount is just under 21 million bitcoin. Scroll to the top of the page and click Add To Cart to learn more about this technology