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what is bitcoin and how does it work

what is bitcoin and how does it work

what is bitcoin and how does it work插图

Best answer


Bitcoin is the first and most widely recognized cryptocurrency. It enables peer-to-peer exchange of value in the digital realm through the use of a decentralized protocol,cryptography,and a mechanism to achieve global consensus on the state of a public transaction ledger (blockchain).

People also ask


  • What is the purpose of bitcoin?

  • What is the purpose of bitcoin? Bitcoin was created as a way for people to send money over the internet. The digital currency was intended to provide an alternative payment system that would operate free of central control but otherwise be used just like traditional currencies.

  • What is bitcoin made up of?

  • Bitcoin is built on a distributed digital record called a blockchain. As the name implies, blockchain is a linked body of data, made up of units called blocks that contain information about each…

  • What is a bitcoin wallet and how does it work?

  • Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued.

  • What is Bitcoin (BTC)?

  • What is Bitcoin? Bitcoin is the first and most widely recognized cryptocurrency. It enables peer-to-peer exchange of value in the digital realm through the use of a decentralized protocol, cryptography, and a mechanism to achieve global consensus on the state of a public transaction ledger (blockchain).

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