January 2018
Intermediate to advanced
524 pages
13h 33m
English
Content preview from Internet of Things for Architects
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Bitcoin (blockchain-based)
The cryptocurrency portion of Bitcoin is different from the blockchain itself. Bitcoin is an artificial currency. It has no commodity or value backing like gold. It is also not physical; it only exists in a network construct. Finally, the supply or number of Bitcoins is not determined by a central bank or any authority. It is completely decentralized. Like other blockchains, it is built up from public key cryptography, a large and distributed peer-to-peer network, and a protocol that defines the Bitcoin structure. While not the first to conceive of digital cash, Satoshi Nakamoto (alias) posted the paper in 2008 called Bitcoin: A Peer-to-Peer Electronic Cash System to a cryptography list. In 2009, the first Bitcoin ...
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