Daily Archives

January 8, 2020


A Quick Walk Through Of Bitcoin

The market is uprising gradually; this is what you see if you follow the Bitcoin evolution. When bitcoin first came in the market, the price was in some cents but later with the evolution of digital currency and the usability of the same, the market price started growing and now it is fluctuating in thousands of dollars. This is enough to lure the investors towards bitcoin.

Bitcoin reached the market in 2009. In this decade, people have got to know about bitcoin and many businesses and individuals started purchasing in exchange of bitcoins. They liked it and so the demand for more bitcoins increased. However, bitcoin is still in the Beta version and more development is left to give it a complete shape. After that, bitcoin is assumed to come to the market in full form and rule the existent market of conventional currency.

Bitcoin miners are responsible to generate more bitcoin. Presently the limit of bitcoin is limited and people are not allowed to have it as much as they want. Through mining where a complicated mathematical problem needs to be solved, bitcoin generation and processing the transaction depends.

The entire thing is based on the public ledger controlled by blockchain technology. Public ledger enables the users to get a complete control of their money that is bitcoin and use it as per requirement. Bitcoin network secures wallet for each of the users which is accessible to them only. They can process a transaction from their wallet but it will finally work after the confirmation of the miners. Other people or the miners will never get to know about your personal information while processing the transaction. This is how a complete control on your money and privacy is secured by bitcoin.

Many people still have doubts on the security policy of bitcoin and there are valid reasons behind it. Hopefully, with a complete version, these problems will be solved and bitcoin will be legalised across the world.