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📰 NEWS STORIES COVERED 📰
BITCOIN’S WHITE PAPER TURNS 11 AS NETWORK PASSES MILESTONES
PRIVACY AND ANONYMITY FOCUSED LINUX DISTRO TAILS 4.0 RELEASED
GHOSTS OF PASSWORDS PAST: WHEN OLD ACCOUNTS COME BACK TO HAUNT YOU
CRYPTO BURNER WALLETS HELPED AN IT CONFERENCE GIVE $40,000 TO CHARITY
TELEGRAM’S GRAMS WALLET IS AVAILABLE ON GITHUB IN TEST MODE
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What is Bitcoin?
Bitcoin is a new technology that functions as a digital currency. It is a peer-based, decentralized way to hold, store, send, and receive value. It does this by maintaining a cryptographic “ledger” called the Blockchain. All of the bitcoins in existence are created and stored on the Blockchain.
Bitcoin with a capital “B” refers to the technology itself. Bitcoin spelled with a little “b” refers to the tokens that hold the value and can be exchanged with others.
Multiple copies of the Blockchain exist on thousands if not millions of computers worldwide. Each copy of the Blockchain “verifies” itself by connecting to the Internet and making sure it has the most up-to-date list of transactions. The Blockchain maintains its integrity by using strong, modern, encryption techniques. This makes it impossible for anyone to alter the ledger, create fake transaction or “double-spend” their bitcoins.
Bitcoins do not require banks or third-party financial services to act as central clearing houses for electronic transfers. In essence, Bitcoin technology “cuts out the middleman”. Bitcoin is a decentralized, peer-to-peer monetary system that exists outside of the traditional, centralized, fiat-currency based financial system.