Topic > BIT - 895

The Bitcoin system is decentralized. And all activities take place through the Internet. We have had digital or private currencies long before bitcoin, such as Microsoft Points or Facebook Credits, and also payment systems that allow us to exchange money online such as PayPal, Visa or Mastercard, but the uniqueness of Bitcoin is the fact which is decentralized. Bitcoin is not controlled by anyone, such as a central bank or an official body. Nor is there a government that will respond to an attack on this currency to stabilize its value. This also means that, unlike almost all other world currencies, it cannot be printed at the subjective whims of controllers, but it can be printed at the subjective whims of controllers. that they cannot be destroyed by attacking the central point of control and that there are no arbitrary rules that controllers can impose on users. Bitcoin solves all these problems. There is no bitcoin company or building, not even a server that can be shut down. It is fully distributed. It is the first time two individuals can exchange value online without a third-party intermediary. Bitcoins are created as a reward for payment processing work where users offering their computing power verify and record payments in a public ledger. This is what is known as mining5. A process that is based on the solution of mathematical equations of increasing difficulty. Which is rewarded with a particular number of newly new bitcoins. A process that will end once we reach 21 million bitcoins in the year5Bitcoin Mining: the processing of transactions in the digital currency system, in which records of current Bitcoin transactions, known as blocks, are added to the record of past transactions, known as... half of the document ......hain10(blockchain.info) but does not show the identity of these transactions. Third, to get bitcoins you need to create them through a mining process or buy them from someone who is selling them such as an individual or a Bitcoin Exchange or an ATM. The mining process also contributes to the security of the system. The more operations are solved on the miners' computers, the more they work to improve the security of the system. Another interesting use of the Bitcoin blockchain ledger system is that it can function as a notary system. For example, if you come up with a movie script, you can attach it to a bitcoin transaction and it will remain recorded in the blockchain forever, so you can go at any time and prove that you did it that particular day.8Bitcoin Address: Similar to a physical address or an email. He's the only one inside