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Showing posts from January, 2023

Introduction to Bitcoin

  Bitcoin is a decentralized digital currency that allows for peer-to-peer transactions without the need for a central authority. It was created in 2009 by an individual or group of individuals going by the pseudonym Satoshi Nakamoto. How Bitcoin Works Bitcoin transactions are recorded on a public ledger called the blockchain. Each block in the blockchain contains a record of multiple transactions, and once a block is added to the blockchain, it cannot be altered. This ensures the integrity and transparency of the system. Users can send and receive bitcoins by using a digital wallet, which stores the user's public and private keys. The public key, also known as the bitcoin address, is used to receive bitcoins , while the private key is used to send bitcoins . The Blockchain The blockchain is a decentralized and distributed ledger that records all bitcoin transactions. It is maintained by a network of computers, known as nodes, that work together to validate and record transac