Bitcoin the biggest cryptocurrency on the planet

 Mining Bitcoin everyday using servers that by

solving a difficult math problem called

a cryptographic hashing function in the

simplest possible terms they are solving

a puzzle that is generated by the Bitcoin

network about every 10 minutes a new

block in the chain is released.

The block reward for solving that hashing function is

currently six and a quarter bitcoins. Working

together Bitcoin miners all over the world

unlock more than seventeen hundred bitcoins each day.

ASIC processors use chips designed is to run

the protocol for Bitcoin blockchain.

Understand Bitcoin is like a commodity most of the world knows little about,

it is code with an underlying technology value. Bitcoin and

other cryptocurrencies are decentralized

with every transaction being recorded in

the blockchain ledger. Mining is essentially processing

those transactions and adding to the

blockchain each link in the chain created every ten minutes.

As more Bitcoin miners come online and servers become more

powerful the puzzles become more difficult to solve. The mining algorithm adjusts

to keep the mining rate constant one block every ten minutes.

Now, do you want to be a part of that change and educate yourself, so you can benefit from this 

 

new digital technology that is here to stay.

For more info:  How to profit

Cryptocurrency, What is it

 



Computerized cash,


You have heard a lot about cryptocurrencies but still do not

understand what they are and what can be done with them.

Starting with Bitcoin which was introduced after the 2008

financial crisis, the developer's plan was to create a digital currency independent of any

centralized authority. That could be digitally transferred with low

transaction fees like normal fiat currencies. Cryptocurrency

designed to work as a medium of exchange in the form of a widely

accepted token or coin that can be exchanged for

goods and service and also function as a peer-to-peer

digital payment system, allowing people to make payments directly

to each other without the need of banks or other financial services.

Cryptocurrencies function by use of cryptographic

technology such as blockchain, with

unbreakable encryption securing the financial transactions and

verifying the transfer of funds. What are the benefits of using

cryptocurrencies for payment? Let's look at

the current payment system being used.

When you buy or sell something or transfer

money, the payment is processed by banks or credit card

companies. Banks and  financial institutions charge transaction fees and international

payments take a long time and are expensive. With cryptocurrencies the cost of making

payments is minimal, almost instant requiring only an internet connection.  

There are risks, most cryptocurrencies are anonymous, making

them a useful for illegal activity.

Cryptocurrencies and Bitcoin have no real-life value, they are

worth what people are willing to pay in the market. 

 

 

Now, do you want to be a part of that change and educate yourself, so you can benefit from this

 

 new digital technology that is here to stay.

For more info:  Click here

Ethereum clarified

 Blockchain innovation has numerous different applications that go past

advanced money. Bitcoin is one of thousands applications

that utilization blockchain innovation today.Building blockchain applications required crypto coding

also, math, a ton of time and cash.

Ethereum gives the fundamental devices to assemble applications in less time.

Ethereum is programming dependent on blockchain innovation that

permits clients to construct and use decentralized applications. Ethereum is a

circulated public blockchain network.

Bitcoin offers an electronic money framework for online installments. Ethereum is focused

on coding for decentralized applications on its organization. Ether (ethereum)

is the digital money that powers the organization, ethereum a cash like bitcoin

is utilized by individuals to pay for code implementation.

A brilliant agreement is utilized to portray an ethereum application that

can permit the trading of cash, content, anything of significant worth. 

Clients send ether to collaborate with

these digital projects and they will run as coded without extortion or impedance.

Ethereum permits engineers to make whatever applications they need

with brilliant agreements. Clients can assemble a great many

various applications for anything on the blockchain.

Ethereum is a figuring stage that permits

designers to make any application on a decentralized stage,

ethereum has taken out the dividers to making applications.

 

 Now, do you want to be a part of that change and educate yourself, so you can benefit from this new

 digital technology that is here to stay.

For more info:  Click here

 

 

 

A coin that is worth thousands of dollars, but it is not made of gold, a digital coin.

It is a digital currency, which means it exists electronically, talking about bitcoin.

Bitcoin does not work like most money.

It is not attached to a state or government, so it doesn’t have a central issuing authority

or regulatory body.

Basically, that means there’s no organization deciding when to make more bitcoins, figuring

out how many to produce, keeping track of where they are, or investigating fraud.

So how does bitcoin work as a currency, or have any value at all?

Well, bitcoin wouldn’t exist without a whole network of people and a little thing called

cryptography.

In fact, it’s sometimes described as the world’s first cryptocurrency.

And here’s how it works.

Bitcoin is a fully digital currency, and you can exchange bitcoins between computers in

a worldwide peer-to-peer network.

The whole point of most peer-to-peer networks is sharing stuff, like letting people make

copies of super legal music or movies to download.

If bitcoin is a digital currency, what’s stopping you from making a bunch of counterfeit

copies and becoming fabulously wealthy?

Well, unlike a video file, a bitcoin isn’t a string of data that can be duplicated.

A bitcoin is actually an entry on a huge, global ledger called the blockchain, for reasons

we’ll get to in a minute.

The blockchain records every bitcoin transaction that has ever happened.

So when you send someone bitcoins, it’s not like you’re sending them a bunch of

files.

Instead, you’re basically writing the exchange down on that big ledger – something like,

you sends one bitcoin.

Bitcoin does not have a centralized authority to tracking of everything.

Even though the blockchain is a central record, there’s no official group of people who

update the ledger and keep track of everybody’s money like a bank does – it’s decentralized.

Anyone can keep the blockchain up to date with all the new transactions.

Tons of people do.

It all works because there are lots of people keeping track of the same thing, to make sure

all transactions are accurate.

You can think of each page as a “block of transactions.”

Eventually, your notebook will have pages and pages of information – a chain of those

blocks.

Thousands of people are separately maintaining the bitcoin blockchain, how are

all the ledgers kept in sync?

Bitcoins are safe thanks to cryptography, which is why it’s called a cryptocurrency.

Bitcoin stays secure because of keys, which are basically chunks of information

that can be used to make mathematical guarantees about messages.

When you create an account a, wallet, that account is linked to two unique keys: a private key, and a public

key.

The bitcoin network and your wallet automatically check your previous transactions to make sure

you have enough bitcoins to send.

But there’s another problem that might happen with timing:

Because lots of people are keeping copies of the blockchain all over the world, network

delays mean that you won’t always receive the transaction requests in the same order.

So now you’ve got a lot of people with different blocks to pick

from, but none of them are necessarily wrong.

Each person maintaining a ledger has to solve

a special kind of math problem created by a cryptographic hash function.

A hash function is an algorithm that takes an input, and yields an

output with a fixed size.

Whoever solves the hash first gets to add the next block of transactions to the blockchain,

which then generates a new math problem that needs to be solved.

If multiple people make blocks at roughly the same time, then the network picks one

to keep building upon, which becomes the longest, and most trusted chain.

These people spend thousands of dollars on special computers built to solve

problems, and run their electricity bills sky high to keep those machines running.

What do they get out of maintaining the blockchain?

Bitcoin actually has a system to reward them.

When you win the race to add a block to the blockchain, new

bitcoins are created, and awarded to your account.

You know the ledger-keepers by name: miners.

Every bitcoin was created to reward a bitcoin miner.

The last bitcoin – probably be mined in the year 2140.

Keeping the supply of bitcoins limited will raise their value over time.

 

Now, do you want to be a part of this change and educate yourself, so you can benefit from this new

 digital technology that is here to stay.

For more info:  Click here