TDC News What is Bitcoin
The Daily Crypto News
TDC News What is Bitcoin?
Bitcoin is the first Cryptographic currency or “Cryptocurrency”
to ever reach the corners of the world
is a digital asset reaching today a price of $10,950 as 12/2/2017
Consuming a yearly electricity equivalent to the annual use of 159 countries.
Bitcoin works similar to our current banking system
banks attribute tokens founds to our accounts
now we attribute the founds or Bitcoin tokens to our wallets
but with a distributed global ledger
so that the entire Bitcoin network can monitor and protect our transactions
in total anonymity and no third parties
Bitcoin is for the first time power to the users.
bitcoin security lies behind mathematical algorithms
super computers solving complex cryptographic problems
In order for an attacker to disrupt it’s functionality
would need to generate the yearly electricity of 159 countries in minutes
so yes! blockchain is secure that’s why governments around the world are implementing it.
But how does it works?
TDC News What is Bitcoin.
Soon after you create an account or wallet
that account is shared across the global network
but no one knows who it belongs to and you alone are responsible for it
at he same time you now have saver on your terminal
the global ledger and now you are part of that security.
Soon as you add founds to your account
the entire world knows that account has founds since works on a public ledger
and the entire Bitcoin global network keeps it safe.
Every time we perform a transaction we pay a small fixed fee to miners
people that put their super computers to work for the network
by connecting to the bitcoin mining nodes building the Blockchain
that allows Blockchain technology to perform the tasks.