A cryptocurrency BITCOIN

in #bitcoin8 years ago

I find interesting the  cryptocurrency so today I will explain something of what is a bitcoin for those who do not know much about this  cryptocurrency. 

 A cryptocurrency  is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies

this is means  Decentralized cryptocurrency is produced by the entire cryptocurrency system collectively, at a rate which is defined when the system is created and which is publicly known. In centralized banking and economic systems such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units of fiat money or demanding additions to digital banking ledgers.  


 In 1998, Wei Dai published a description of "b-money", an anonymous, distributed electronic cash system.[21] Shortly thereafter, Nick Szabo created "Bit Gold".[22] Like bitcoin and other cryptocurrencies that would follow it, Bit Gold was an electronic currency system which required users to complete a proof of work function with solutions being cryptographically put together and published 

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Source: https://en.wikipedia.org/wiki/Cryptocurrency
Source: http://money.cnn.com/infographic/technology/what-is-bitcoin/

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