Ram asked 6 years ago
What is Bitcoin?
Bitcoin(BTS) is a digital currency. it’s a new currency system that was created in 2009. You can make transactions by check and money or wiring. Now, you’ll additionally use Bitcoin (or BTC), wherever you refer the purchaser to your signature, which is a long line of security code encrypted with 16 distinct symbols. The emptor decodes the code along with his smartphone to get a cryptocurrency. Bitcoin is a decentralized peer to peer payment network that’s high-powered by its users with no central authority or middlemen. It can be used to buy or sell completely different things from people and companies that settle for bitcoin as payment, however, it differs in many key ways that from traditional currencies
In alternative words, Bitcoin created digital transactions possible without a “trusted intermediary.” The technology allowed this to happen at scale, globally, with cryptography doing what institutions like business banks, monetary regulators, and central banks used to do: verify the legitimacy of transactions and safeguard the integrity of the underlying plus. A bitcoin or a transaction can’t be modified, copied, erased or cast – everyone would recognize.