Bitcoin essay

July 8, 2019
bitcoin essay

  bitcoin is a digital currency or the most recent digital payment system that allows people to anonymously spend their money since the currency is not affiliated to any government or bank. To clearly understand this currency, it is important to compare it to other types of currency such as coins and money in form of paper.

Bitcoin bitcoin is a digital currency that was started in 2009. It is a digital representation of currency with no actual tangible representation. Bitcoin, commonly abbreviated as btc or xbt, is distributed worldwide, decentralized digital money (also called cryptocurrency).

  essay on cryptocurrency all you should know about bitcoin the word cryptocurrency stands for an encrypted digital currency that can be transmitted and validated through a specific process generally referred to as mining.

Bitcoin a peer-to-peer electronic cash system (nakamoto 2008) a purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.

It is marked by its decentralized nature without a central bank or administrator. The currency can be sent from user to user on the bitcoin network without a middleman.