BITCOINS
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All About Bitcoins & how it's work., Study Guides, Projects, Research of Cryptography and System Security
The basics knowledge of Bitconis
Typology: Study Guides, Projects, Research
2017/2018
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BITCOINS
What is Bitcoins?
- (^) Bitcoin is technology that allows people to transfer funds between each other separate from a central authority or bank.
- (^) Open to Public
- (^) The first Decentralised Digital Currency (Digital Payment System). It was founded by an unknown group of programmers under the name of Satoshi Nakamoto in 2009 (registered on 18 th of August 2008).
How does it works?
Recording of transactions between different
address with balance that increase &
decrease.
Stored in a vast general ledger know as
Blockchains.
Balance of bit coin address can be found by
reconstructing it by looking at blockchains.
Implications
Pros of Bitcoins
Freedom of payment.
Low/minimal fees.
Fewer risks for merchants.
Control & security.
Transparency
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