January 2019
Beginner to intermediate
372 pages
11h 17m
English
Content preview from Foundations of Blockchain
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Bitcoin basics
Bitcoin is a collection of cryptography and decentralized consensus algorithms that enabled the creation of a complete decentralized digital currency ecosystem.
Bitcoin can be used just like conventional currencies. It can be used to buy and sell goods and services or to just transfer money to people. Bitcoin has several advantages over conventional currencies, such as lower transaction costs and the ability to transfer currency to any part of the world, because it is not controlled by any national authorities. Bitcoin is also entirely virtual, meaning there is no physical form of the currency. The value of Bitcoin is generated by transactions in Bitcoin. Anyone can transfer Bitcoin to a particular Bitcoin address using a transaction. ...