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Bitcoin Contributor Jameson Lopp Is he New Casa Crypto Custody Startup CTO

Jameson Lopp Is The New CTO Of The Cryptocurrency Startup Casa Bitcoin veteran Jameson Lopp is now the CTO of Casa. The information was released...

Binance Exchange Issues More BCH Details on the Upcoming Bitcoin Cash Hard Fork

Binance recently revealed some details regarding the upcoming BCH hard fork. As part of the support for the upcoming hard fork, the exchange will...

IBM Thailand to Work With Thai Central Bank to Expand AI and Blockchain Technology

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IMF Chairwomen: ‘We Should Consider Issuing Central Bank Digital Currencies'

Christine Lagarde, from the International Monetary Fund (IMF), has affirmed that governments and central banks all over the world should work towards setting up...

NYDFS Approves 14th BitLicense to NYDIG for BTC, BCH, ETH, XRP and LTC Custody Service

On Wednesday, November 14, 2018, the New York State Department of Financial Services (DFS) has approved and since granted, New York Digital Investment Group’s...

Bitcoin (BTC) Plummets Below $5,700 to Lowest Level in Over a Year

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Japanese Police Arrest 8 Men In $68 Million ‘Sener' Crypto Pyramid Scheme

Japanese Police Arrests 8 Men For Involvement In $68 Million USD Crypto Pyramid Scheme The Tokyo police have recently arrested eight men that were suspected...
Australia Warns: Fake Tax Payment Demands through Bitcoin ATMs Becoming Popular

Australia Warns: Fake Tax Payment Demands through Bitcoin ATMs Becoming Popular

Scammers seem to find any possible outlet to steal the cryptocurrency of investors. Twitter has been the biggest opportunity for these frauds to get...

MoneyTap Demo Powered By Ripple's xCurrent Registers Real-Time Payments Without Fees

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Fintage House Partners with TaTaTu to Accept Crypto Coins for Rights...

Fintage house which has been established as a TV and film rights plus also a financial firm has just partnered with TaTaTu. The TaTaTu...

Price Watch & Coin Technical Analysis

Ripple Price Analysis: XRP/USD Drops Four Percent, Stable Above 50 Cents

Latest Ripple News Blockchain is roughly 10 years old-- going by Bitcoin statistics. It could be older now that Ripple Labs was formed in 2004...

Tezos (XTZ) Daily Price Forecast – November 14

XTZ/USD Medium-term Trend: Ranging Distribution territories: $1.35, $1.40, $1.45 Accumulation territories: $1.20, $1.15, $1.10 On November 8, last week, XTZ started to experience a notable decline in...

Binance Coin (BNB) Daily Price Forecast – November 14

BNB/USD Medium-term Trend: Bearish Distribution territories: $9.80, $10.30, $10.80 Accumulation territories: $9, $8.50, $8 Last week’s Wednesday, the trading activities between the BNB and the USD featured...

EOS Daily Price Forecast – November 14

EOS/USD Medium-term Trend: Bearish Resistance levels: $ 6, $7, $8. Support levels: $5, $4, $3. Yesterday, November 13, the price of EOS was in a bearish trend....

XRP Daily Price Forecast – November 14

XRP/USD Medium-term Trend: Bullish Resistance Levels: $ 0.61, $0.63, $ 0.65 Support Levels: $0.50, $0.48, $0.46 Yesterday, November 13, the XRP price was in a sideways trend....

Litecoin (LTC) Daily Price Forecast – November 14

LTC/USD Medium-term Trend: Ranging Resistance Levels: $66, $68, $70 Support Levels: $50, $48, $46 Yesterday, November 13, the price of Litecoin was in a bearish trend. On...

Ethereum (ETH) Daily Price Forecast – November 14

ETH/USD Medium-term Trend: Ranging Resistance Levels: $240, $260, $280 Support Levels: $205, $200, $170 Yesterday, November 13, the price of Ethereum was in a bearish trend. The...

Bitcoin (BTC) Daily Price Forecast – November 14

BTC/USD Medium-term Trend: Ranging Resistance Levels: $6,800, $6,900, $7,000 Support levels: $6,300, $6,100, $5,900 Yesterday, November 13, the price of Bitcoin was in a sideways trend. The...

CARDANO (ADA) Daily Price Forecast –November 14

  ADA/USD Medium-term Trend: Bearish Supply zones: $0.08600, $0.08800, $0.09000 Demand zones: $0.06400, $0.06200, $0.06000 ADA is in a bearish trend in its medium-term outlook. The loss of...

Volentix (VTX Token): How VENUE, VERTO, VESPUCCI And VDEX Work?

What Is Volentix? Volentix is a cryptocurrency-based multifunctional ecosystem that consists of four pillars DApps, which work in synergy with each other for the improvement of...

Bincentive ICO (BCNT Token): Smart Blockchain Investment Incentives?

What Is Bincentive? Bincentive is a smart follow-trade marketplace and matchmaking investment service that focuses on the creation of an Inter-Exchange Smart Trading ecosystem. The platform...

HetaChain ICO (HETA Token): Quality Blockchain And Crypto Platform?

What Is HetaChain? HetaChain is a third generation blockchain platform built with advanced computational capabilities to enable users to develop decentralized applications that do not include...

SatoWallet (SATOS Token): Trade, Store, Invest And Stake Crypto Assets App?

What Is SatoWallet? SatoWallet is an all-in-one application used for trading, storage, investment, staking, and securing user's blockchain assets. The applications contains a variety of unique...

WolfpackBot ICO (WOLF Token): Cryptocurrency Trading Bot System?

What Is WolfpackBot? WolfpackBOT is an advanced cryptocurrency trading BOT that executes trades securely by using the advanced trading algorithms, the “Werewolf” Trading Analysis configurations, and...

Volavia ICO (VOL Token): Blockchain For Private Airline Travel Payments?

What Is Volavia? Volavia is a private aviation technology company that has launched the first platform for private air travel that is blockchain-based. The company uses...

Fructus ICO (FRUCTUS COIN): Decentralized Blockchain For Organic Food?

What Is Fructus? Fructus is a decentralized marketplace where consumers can purchase a wide range of products directly from manufactures and enjoy low and transparent costs...

CurveBlock ICO (CBUK Token): Blockchain Real Estate Investment Exchange?

What Is CurveBlock? CurveBlock is a blockchain-based company that pays its token holders dividends from all projects completed through the Proof of Stake (POS) smart wallets....

ShipNext ICO (SHPC Token): Blockchain Air & Sea Shipping Marketplace?

What Is ShipNext? ShipNext is a blockchain-based company uniquely positioned to disrupt the maritime and shipping industry and offer it a significant additional value. ShipNext will...

Varius World Tech ICO (VWT Token): Legit Blockchain Crypto Project?

What Is Varius World Tech? Based in the UK, Varius World Tech is a Technology Company that specializes in providing software solutions and services to the...

Coinchase ICO (CCH Token): Blockchain Crowdfunding Crypto Platform?

What Is Coinchase? CoinChase is a community-based blockchain crowdfunding platform that seeks to attract cryptocurrency community traffic through its public sale services that will also provide...

BitCanna ICO (BCNA Token): Cannabis Blockchain Payments Platform?

Currently, the cannabis industry is facing many restrictions; one of the challenges is the fact that most financial institutions such as banks, payment providers,...

Aerum ICO (XRM Token): Legit Bitcoin Cryptocurrency Finance Project?

What Is Aerum? Aerum is an Ethereum-based project developing the next generation blockchain focused on programmable Peer-to-Peer finance. The project seeks to disrupt the FinTech industry...

Twilight ICO (TWC Token): Japan Anime Blockchain For Creators And Fans?

Japanese anime films seem so surreal and often feature interesting plots. To this end, it doesn’t come as a surprise that the industry is...

CryptoCurrency Events


WIRE SUMMIT 2018: Crypto Investment Event In New Delhi, India

What Is WIRE SUMMIT 2018? Organized by BTCWIRES, WIRE SUMMIT 2018 is a blockchain event, which will take place on 2 December 2018 in New Delhi,...

Miami To Host 2019 North American Bitcoin Conference January 17-18

Miami To Host 2019’s North American Bitcoin Conference The seventh edition of the North American Bitcoin Conference will be held early next year in Miami. As...

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Bitruption: P2P Advertising Marketplace And Buy/Sell Bitcoin?

In the current financial system, banks misuse their monopoly over fiat to prevent the crypto industry from accessing the competitive and alternative financial system....

CryptoPoints: Easy Way To Buy Bitcoin, Ethereum, LTC And BCH

What Is CryptoPoints? Crypto Points is a simple way to purchase Bitcoin, Ethereum, Bitcoin Cash or Litecoin at the best prices in the market. Initially, to...
Producers Market

Producers Market (PMKT Token): Blockchain Food Tracking Project?

What Is Producers Market? Producers Market is a global platform that seeks to solve the problem of...
Machine Xchange Coin

Machine Xchange Coin (MXC): Blockchain IoT Global Data Network?

What Is Machine Xchange Coin? Machine Xchange Coin (MXC) is a decentralized technological “Data Trade Network” specifically...
Token Logic

Token Logic ICO: Safe Initial Coin Offering Crypto Investment Deal?

What Is Token Logic? Token Logic is an ICO cloud investment platform where users could make and...
Bora Ecosystem

Bora Ecosystem BORA Token: Blockchain Entertainment Network?

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CryptoCare: Ethereum-Powered Crypto Collectible Social Platform?

What Is CryptoCare? CryptoCare is a social impact platform based on Ethereum, which gamifies philanthropy through crypto...

SECURITonomy STO Token: Compliant Security Token Offerings?

What Is Krypton Capital's SECURITonomy? Krypton Capital recently moved their headquarters to Malta. Shortly after that, they...

Cryptocurrency Wallets


Secalot: Secure USB Crypto Hardware Wallet And Smart Card?

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SaveNode (SNO Coin): Easy To Use Cryptocurrency Investing Wallet?

What Is SaveNode? SAVENODE is a platform that allows its users to easily invest in multiple digital assets through its mobile application that is very intuitive,...

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Bitcoin is a cryptocurrency built on blockchain distributed ledger technology. Bitcoin is a peer to peer electronic cash made possible by a decentralized database. It acts as public accounting system layered on a distributed network for all to nodes to witness and users to verify. Bitcoin was the first ever true electronic value transfer of a currency in the world's history.

It is being called a better-than-gold equivalent store of value and a medium of exchange to rival Visa, Mastercard and Paypal. Its unit of account and predetermined characteristics of a finite supply (21 Million total bitcoin in circulation to avoid inflation) make bitcoin a trustless, permissionless and (will be) frictionless new world currency. It is uncensurable and unconfiscatable with high-fungibility. It is the programmable money paradigm that requires no third party intermediaries or centralized governance for all users to agree and accept terms of using it collectively.

What Is Bitcoin?

Bitcoin is a technology – its digital money backed by blockchain DLT – a robust international network of payments and transactional/mercantile exchanges that are completely decentralized and relies on community consensus voting mechanism for the longest/honest chain. It doesn’t depend on banks or governments to operate and its creator Satoshi Nakamoto is a group of ghosts. Bitcoin is virtual money that can be sent from any place in the world to another, instantaneously, securely and for minimal to no fees (almost like an email or instant message of today).

Bitcoin breathed new life into trying times amidst real estate housing bubble and fractional lending credit debacle and came into existence in October 2008 after the publication of a whitepaper titled, “Bitcoin: A Peer To Peer Electronic Cash System” (created by the author under the name of Satoshi Nakamoto).

Satoshi combined the knowledge of prior digital currency developments (see the Nakamoto Institute) such as HashCash and B Money and finally got all the pieces to the puzzle to fit. It was the first to succeed where these others failed to engineer a practical, autonomous decentralized peer to peer cryptocurrency that requires no central authority for money emission, validation of transactions or settlements.

The main innovation in Satoshi’s Bitcoin invention is the development of a distributed computational hashing system known as the “proof-of-work algorithm”. It conducts global transaction validations every 10 minutes, allowing the decentralized network technology to come to consensus agreement about the state of each transaction and whether the funds are valid and should be confirmed for being locked into the next block created.

4 Keys Of Innovation

The invention of Bitcoin represents the pinnacle of years of research in distributed systems and cryptography, it’s development combines 4 key innovations that make the existence of Bitcoin possible:

  • The Bitcoin Protocol – A decentralized peer to peer network.
  • The Blockchain – A public ledger to record all transactions.
  • A Distributed Mining System – decentralized mathematical currency issuance
  • Transaction Script – A decentralized transaction verification system.

There is much more to learn about the inner workings of the blockchain and how it all works, but right now we will do our best to build bite-sized bits of digestible digital currency content like how to buy it, trade it, invest it, store it, send it, spend it, receive it and even earn it.



The Backbone Of Bitcoin

Mining is the skeleton framework that enables blockchain's coveted bitcoin cryptocurrency application to run properly. This open source process is how new bitcoin is added to the money supply and also verifies all transactions done using the peer to peer bitcoin network. The mining process serves to secure the bitcoin protocol from fraudulent transactions and ensures proper track of receiving and sending coins.

Miners provide petahash processing computer power (ASIC) to help validate transactions and ensure proper recording in the global ledger. On average a new block is mined every 10 minutes, adding those transactions to the global blockchain ledger, once confirmed and approved. Mining is what gives blockchain its ability to act as bitcoin's account system behind the scenes. Essentially miners and their computing power are responsible for holding together and securing the transaction network.


The Body Of Bitcoin

If mining is the backbone of bitcoin, exchanges are the body of bitcoin. The buying, selling, trading and investing in bitcoin are what gives cryptocurrencies its practical utility and universal appeal. There are a variety of specialized exchanges to buy bitcoins with funds from a bank account, debit card, credit card or Paypal. Buying bitcoin is simple to do and is the first step towards becoming an owner and user. The quickest way to get started with bitcoin is to sign up for a bitcoin exchange, where you can quickly buy, store and receive coins. Here’s the basic process you’ll need to follow:

  • Step 1) Open a Bitcoin Wallet/Exchange Account.
  • Step 2) Trade in fiat money for bitcoins.
  • Step 3) Transfer your Bitcoins to a secure private Bitcoin wallet.

That’s it! Below, we’ll explain more specific instructions – like tips on how to choose a good Bitcoin exchange and what to watch for.


The Brain Of Bitcoin

Bitcoin wallets allow the 'be your own bank' to become reality. Digital Wallets store a collection of cryptographic keys, each consisting of a private key and a public key. These keys are what you need to access a bitcoin address and spend your funds. To be absolutely accurate, you don't technically store bitcoins anywhere. What you store are the secure digital keys used to access your public bitcoin addresses and sign transactions. This information is stored in a bitcoin wallet. Wallets come in different forms, designed for different types of device.

You MUST have a wallet to get started using cryptocurrencies. A Bitcoin wallet is an app or program that allows you send and receive bitcoin. Wallets also keep track of your bitcoin balance which is held in one or more bitcoin addresses. Generally, wallets also have a feature that keeps a history of your bitcoin transactions.


There are several major Bitcoin exchanges, and there are several preferred exchanges. Different people have different needs, and multiple exchanges offer different services.

Your country and location also play a role when deciding which exchange to choose. Coinbase is the preferred leading exchange in the US and Europe for example, but if you are in Mexico Bitso is the best option to start. Check out our guide to opening a Bitcoin Exchange service account.

While researching Bitcoin exchanges, you’ll need to pay attention to important traits that separate good exchanges from bad ones. Pay attention to things like:


Major Bitcoin exchanges face hacking attempts every day. Even leading exchanges have suffered leaks in the past. It’s part of dealing with some of the most talented hackers in the world. Nevertheless, you’ll want a Bitcoin exchange with strong security and a limited history of leaks.


One of the best parts about buying Bitcoins is that you can do it with 100% privacy. However, the only real way to privately buy Bitcoins is with cash or a cash deposit. Not all exchanges support this. It’s easy to find exchanges that accept bank transfers, credit card payments, debit card payments, and PayPal, for example. However, each of these payment methods is tied to your personally-identifiable information. If you want to avoid being tracked, then you need an exchange that offers cash or cash deposit exchanges.

Fair Exchange Rates

One of the confusing parts about Bitcoin for newbies is the exchange rate. There is no “official” exchange rate for Bitcoin into world currencies. Instead, Bitcoin prices are based on the average price of Bitcoin across all exchanges. One reliable site for Bitcoin averages is Make sure the exchange you choose has a fair exchange rate based on the current price.


Bitcoin exchanges all have fees. You’ll typically see a deposit and withdrawal fee, for example, as well as a fee per exchange. Some exchanges will substantially reduce – or even eliminate – fees if you trade a lot of Bitcoins.

Purchase Limits

Most Bitcoin exchanges have no limits. If you have enough money, you can buy as much Bitcoin as you want. However, certain exchanges do have limits. If you’re working with an individual seller, then that individual may have lower limits than an exchange. Unless you’re buying more than, say, 25 Bitcoins, you shouldn’t have trouble with purchase limits.


One of the best parts about buying Bitcoins is that you can do it with 100% privacy. However, the only real way to privately buy Bitcoins is with cash or a cash deposit. Not all exchanges support this. It’s easy to find exchanges that accept bank transfers, credit card payments, debit card payments, and PayPal, for example. However, each of these payment methods is tied to your personally-identifiable information. If you want to avoid being tracked, then you need an exchange that offers cash or cash deposit exchanges.


Try to pick a trusted, long-standing Bitcoin exchange. Sure, some new Bitcoin exchanges might offer lower rates and better service – but until they’ve built a good reputation over time, you should stick with the known exchanges.


Focus on exchanges that have a wide selection of Altcoins and pairings. You want to have the stable coins as well as access to Altcoins fresh out of their Initial Coin Offering (ICO).


With a Bitcoin wallet, you can receive, store, and spend Bitcoins. Bitcoin wallets aren’t like conventional wallets: they can be apps, websites, devices, or software programs. These wallets contain private keys that give you access to your coins. Many bitcoin exchanges offer Bitcoin wallets when you sign up, for example. Other people hold physical Bitcoin wallets – or even physical Bitcoins – as a way to store their cryptocurrency.

There are many different wallets across various platforms. While they all share certain basic functionality, features vary from one wallet to the other so it’s worth learning more about How to Choose a Bitcoin Wallet before downloading the wallet of your choice. Wallets are necessary to carry and store bitcoins. Of course some exchanges may serve simultaneously as wallets but is always best to have a private secure wallet to store your coins after purchasing from an exchange.

The two main types of Bitcoin wallets available today include:


These are physical electronic devices – similar to a USB stick or thumb drive – built for the sole purpose of managing your Bitcoins.

Many people like hardware wallets because they perform like physical wallets: you need to connect your wallet to a computer, phone, or tablet in order to spend the Bitcoins inside.

Popular hardware wallets include the KeepKey, Trezor, and Ledger Nano S.

Protecting Your Cryptocurrency Investments

The only way to lose Bitcoins through a hardware wallet is if someone steals your wallet. Even then, you can protect your hardware wallet with a PIN code. And, if you lose your wallet for any reason, you can use a secret backup code to maintain access to your Bitcoins.

The only real downside of hardware wallets is they’re not free. You have to pay for the physical device. Expect to pay between $50 and $100 for a good Bitcoin wallet – although cheaper options are available for under $20.

Some hardware wallets:


Hot Bitcoin wallets are apps or software programs found on smartphones, tablets, or computers. Hot wallets generate your private Bitcoin keys.

Hot wallets are typically seen as the easiest way to store and spend Bitcoins, but security is a concern. Those who own a lot of Bitcoins typically use hot wallets to store a small amount of Bitcoins, while using hardware wallets for their main Bitcoin fund.



This tends to be the most popular method of buying Bitcoins. After all, most people have a credit or debit card, and are familiar with how to use them. Buying Bitcoins with a credit or debit card also means you instantly gain access to your Bitcoins. The downside with credit/debit card Bitcoin purchases is that exchanges typically charge higher fees. The other problem is that your Bitcoins are tied to your personal information. You need to prove your ID to buy Bitcoins with a credit card.

Popular exchanges for credit/debit card Bitcoin purchases include Coinbase, Coinmama,, and BitPanda. Coinbase is only available in the United States, Canada, Europe, and Singapore; BitPanda is only available in Europe. CEX and Coinmama are both global exchanges.


Bank transfers are the preferred way to buy a large amount of Bitcoin. Exchanges also typically charge lower fees for bank transfers compared to credit or debit card transfers. The main downsides of a bank transfer are the slow speeds (takes about 5 business days to complete, in some cases) and the ID verification. Just like with credit or debit card purchases, your ID is tied to your Bitcoins. Coinbase, BitPanda, and Gemini all allow Bitcoin purchases with bank transfers.


Cash is the preferred method for those who want to deal with Bitcoins anonymously. A cash deposit lets you access your Bitcoins quickly (even instantly) while remaining totally anonymous. There are some major downsides with cash exchanges. You’ll almost always pay higher rates (expect to pay 10 to 15% above market rates for a cash exchange). It’s also easier to get scammed or robbed. If you’re working with a disreputable exchange, then your cash might disappear with no record.

If you want to use cash to purchase Bitcoins, use services like LocalBitcoins, BitQuick, or Wall of Coins. However, the best method may be to find a Bitcoin ATM in your local area. Every major city in the world has a Bitcoin ATM. New York City has about a dozen, for example. Even Bitcoin ATMs have a cash rate that’s 10 to 15% higher than the current exchange rate.


PayPal doesn’t officially let you buy Bitcoins. Accessing Bitcoins through PayPal is difficult. In fact, PayPal’s terms of service explicitly forbids merchants from accepting PayPal payments for Bitcoins. However, there are some ways to get around this problem. You can buy digital items with PayPal, then sell those items for Bitcoin, for example. As an example, payment platforms like VirWoX let you buy Second Life Lindens (yes, the currency used in Second Life) with your PayPal balance, then trade those SLL for Bitcoins.

There are downsides: you lose more money by exchanging your money twice. There’s also the problem that PayPal could shut down your account if it discovers what you’re up to. Ultimately, the exchange fees with PayPal / Bitcoin transfers add up to about 10 or 12% – similar to what you pay for cash transfers.



What Time Of Day Should You Buy?

Bitcoin is traded 24 hours a day, 365 days a year. Bitcoin trading never stops. The price is constantly fluctuating. Like with most markets, it’s hard to time the Bitcoin exchange rate. You can use tools like Bitcoin Wisdom or Cryptowatch to analyze historical Bitcoin exchange rate data.

Many people are attracted to Bitcoin because they heard of people who bought hundreds of Bitcoins for $20 USD back when the cryptocurrency first hit the internet. Those people became millionaires overnight when the price of Bitcoin shot up. If you’re buying Bitcoin because you expect that type of success, then you’ll probably be disappointed. If you’re interested in that type of overnight success, however, then there is a chance that it can be found in the altcoin markets.


Altcoins Vs Bitcoin

When visiting Bitcoin exchanges and websites, you may see information about buying “altcoins”. Altcoins are cryptocurrencies other than Bitcoin. Bitcoin was the first cryptocurrency to become really popular. Since the rise of Bitcoin, however, hundreds of other cryptocurrencies have emerged. People invest in altcoins because they’re hoping for a Bitcoin-like rise in value. The vast majority of altcoins, however, have virtually no value.

In general, you should avoid buying currencies that go through sudden spikes and drops in price and volume. However, if you’re feeling brave, and don’t mind exposing yourself to risk, then certain altcoins are worth the price. A growing number of altcoins are accepted as online payments – just like Bitcoin.


Importance Of Blockchain Technology

The blockchain is an essential part of the cryptocurrency world. Without the blockchain, Bitcoin wouldn’t exist. The blockchain was created by Satoshi Nakamoto – the mysterious creator (or group or creators) behind Bitcoin. It’s an ingenious invention that has already changed the future of banking and global economics.

A blockchain allows digital information to be distributed – not copied. It’s the reason Bitcoin works as it does. As explains, “blockchains create the backbone of a new type of internet”. It was first used to create Bitcoin, but blockchains are already being used in all corners of the tech world. Here’s the best definition of the blockchain, from Don & Alex Tapscott, authors of Blockchain Revolution (2016):


What Is Blockchain Technology?

In a more simplified sense, picture an Excel Spreadsheet that’s duplicated thousands of times across a network of computers. Now, imagine that the network is programmed to constantly update all of those spreadsheets simultaneously. That’s basically what a blockchain is. It’s like Google Docs for banking.

The blockchain consists of a shared database. That database isn’t stored on any single person’s computer. There’s no centralized version of the blockchain. The blockchain exists everywhere at the same time – which means the information on the blockchain is public and easy to verify. With the blockchain found on millions of computers worldwide, it’s easy for anyone to verify information on the blockchain. All you need is an internet connection.

Bitcoin and its blockchain were first invented in 2008. Amazingly, since 2008, the Bitcoin blockchain has operated without any significant disruption. It’s proven itself to be transparent and incorruptible over the years. About every 10 minutes, a new “page” or “block” of valid transactions is confirmed through the Bitcoin blockchain. That means new files need to be added to the files on all the computers.


What Makes Up A Blockchain?

The blockchain is essentially a network of “nodes”. A node is an individual computer connected to the blockchain network. Each node gets a copy of the blockchain. That copy is automatically downloaded when you join the blockchain network. As part of the blockchain network, each node also has the job of validating and relaying transactions on the blockchain. Each node is a blockchain administrator.

Why would someone become a node? Each node has a chance of winning Bitcoins. Each node is constantly solving computational puzzles. You know how people talk about Bitcoin mining? Essentially, Bitcoin mining is just using a powerful computer to solve algorithms.


How Can Blockchain Technology Be Used In The Future?

Bitcoin was the first major use for the blockchain – but it certainly won’t be the last. The potential for blockchain technology is enormous. The biggest implications for the blockchain are on the world of finance.

Blockchains could cut out the middleman for money transfers, for example. That could facilitate the transfer of money worldwide. Instead of having a middleman – like a bank – charging money for each transaction, we could use the blockchain to securely transfer money worldwide at minimal cost.

Bitcoin Exchange Guide

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