How blockchain technology works

bitcoin technologyBitcoin is one of the most widely accepted cryptocurrencies around the world. This is because of the blockchain technology that supports bitcoin transactions.

So, what is a blockchain? A blockchain is actually a large public database where every bitcoin transaction is stored as blocks.

Each block is encrypted via hash code, and blocks are linked with each other in such a way that any newly created block’s hash code is designed based on the previous block’s hash code. Because of this hash coding, if an anonymous person tries to tamper with the chain, the hash code becomes more complex, making theft impossible. Even very small changes in the network are indicated to all bitcoin users connected to the network. Continue reading “How blockchain technology works”

A Bitcoin Investment Can Combat Wealth Disparity

bitcoinCryptocurrencies brought new hope to stabilize the global economy, the health of which has deteriorated after multiple inflations, recessions, and crises.

The behavior of fiat money is difficult to predict because its value has never stabilized. Fiat money is consistently devalued and this has caused concern for people with insufficient funds. Investors are concerned about the actual value of their returns on investment. This uncertainty is fueled due to the inherent nature of fiat currency. The fact is that money valuation is not the same as people view it. They can’t predict how the money will respond in the future. Continue reading “A Bitcoin Investment Can Combat Wealth Disparity”

Buy Bitcoin. Make your first cryptocurrency transaction

bitcoinBitcoin is the first digital cash (identified as cryptocurrency) that was launched in the year 2009. It is a decentralized mode of payment that does not involve government authorities and the banking sector. Two parties are willing to undertake a transaction and, using Bitcoin-newstrader, they perform the transaction without the help of a middleman.

The entire technology is based on cryptography. Cryptography is a hidden digital message shared between a sender and a receiver. A bitcoin can be imagined as a computer file with its computations stored in a digital device like a mobile or computer. The trading symbol of bitcoin is BTC.

What is the working principle of bitcoin? Continue reading “Buy Bitcoin. Make your first cryptocurrency transaction”

Different ways of making money with bitcoin

There are several ways of earning Bitcoin. The most interesting of all is Bitcoin Mining. There’s a public ledger, which is also known as a Blockchain. Every single user in the network can access the ledger. bitcoin

In simpler words:

♦ Mining is a method of tracking
♦ Blockchain provides a complete record of every transaction.
♦ Bitcoin is available online. It is free for all.
♦ Bitcoin Miners use bitcoin as a reward for completing blocks that get readily added to the blockchain.

Since noone owns Bitcoin, no single individual or company has responsibility for safeguarding it. Continue reading “Different ways of making money with bitcoin”

What Is Bitcoin? What Are Its Future Prospects? 

bitcoinBitcoin is a cryptocurrency that came into existence ~2009. As an exchange it eliminates intermediaries and makes shopping, buying, and whatnot easy.

Bitcoin tends to arouse a plethora of thoughts concerning earning money with it due to its popularity having skyrocketed in recent years.

Bitcoin isn’t tied to any economy’s regulations and makes global payments more flexible. Financial analysts have known about Bitcoin since its inception, and many offer it as an investment or buy it as a store of value for themselves. Continue reading “What Is Bitcoin? What Are Its Future Prospects? “