Category Archives: Bitcoin Beginners Guide
Bitcoin is a system with many strict rules but without any rulers. This is made possible because the rules are enforced by each and every user of the system. Changing the existing rules is nearly impossible, but new rules can be added if consensus is achieved.
The enforcement of rules without rulers may perhaps be the biggest innovation behind bitcoin.
But this doesn’t mean that no one is trying to become the ruler…
Be sure to continue to read at the source: Audun Gulbrandsen Hackernoon
Decentralized Exchange – As Fast As Possible – Chris Coney At Cryptofinance 2017 Oslo, Norway
Source: The Cryptoverse
Crypto Coins Updates: Reading Candlestick Cryptocurrency Charts for Beginners
Source: Crypto Coins
Ivan on Tech: Bitcoin running out of addresses? Programmer explains.
Source: Ivan on Tech
There are hardly any technologies that hold as much promise as the blockchain, which has ever since its inception served to revolutionise every concept it has touched. Be it the commercially important fields like inventory management and package tracking, or more complex business like preventing vote counterfeiting or managing the accounts of thousands of customers, Blockchain is one technology that has thoroughly changed the scene.
Blockchain derives its name from the chainlike structure you discover if you trace each packet of information or block across the many devices it is spread over. Let me quickly share how this is arranged, taking help of the biggest success stories of the technology, cryptocurrency.
If I have to transfer money to a friend through the internet, I need to have a receipt to prove i have indeed transferred them money and also have that record to be impossible to tamper with. A cryptocurrency like Bitcoin or Ethereum can help carry out this transaction, and you’ll be fascinated to learn how it operates.
When you transfer an amount of money through BTC, the system records the transaction as a chunk of data. This is recorded as a page that is called a block, and it makes sense because it is pretty formidable, resisting all attempts at tampering the data once the record has been generated. To further make things airtight, the record is carried to multiple devices each of which saves a copy. If tampering with one record was hard, tampering with multiple copies of the record becomes a task no CPU is capable of accomplishing.
Blockchains even offer rewards for participants, which can go a long way to secure the feasibility of the idea and make up for the costs of electricity, CPU space and internet that are generated in the process. Techiespad has an interesting infographic that sums up all of this and more in a quick picture format. You should check it out below.
Author Bio: Stacy Miller has been blogging ever since she was in high school. Her love for technology and disdain for generic Hollywood movies has only grown over the years.
TECHNICAL ANALYSIS 101 for Bitcoin Beginners – Spinning Tops and Doji
TECHNICAL ANALYSIS for Bitcoin Beginners – Understanding CANDLES (Pt1)
The Crypto Sniper: Does Bitcoin have any Shortcomings What are the Advantages of Bitcoin
Source: The Crypto Sniper