How Does Bitcoin Work and How far can it go in 2019

How Does Bitcoin Work and How far can it go in 2019


    As a new user, you can start using Bit Queen without knowing the technical information. Once you have installed the Coin-Curve Wallet on your computer or mobile phone, you will create your own first pinpoint address and you can create more when needed. You can reveal your addresses to your friends so that they can pay you or vice versa. In fact, this is very similar to how e-mail works, the only difference is that the addresses of the Quinn address should be used only once.


    Credits - Blocks series

    The blockchain is a common bridge with which the entire BitCoin network is based. All confirmed transactions are included within the block series. In this way, the Governor of BitCoin can calculate its controllable balance, which allows its players to operate and spend, as well as new transactions that can be confirmed in the same way. The integrity of the block sequence and its correct chronological order is subject to encryption literally.

    Transactions - private keys

    The transaction, or as it is called in English, "transaction" is the conversion of the value between the bits of the Coin bits that are included in the block series. The Governor of BitCoin maintains a secret part of the data called the private key or base, which is used to sign transactions, providing mathematical proof that the transaction was carried out by the wallet owner. The signature also preserves the transaction from being altered or manipulated by anyone after its release. All transactions are published and distributed among users and are often confirmed by the network in the next 10 minutes, through a process called exploration.


    Processing - prospecting

    Mining is a distributed total system used to confirm transactions in the waiting queue by including them in the block series. Which imposes a chronological order in the block sequence that ensures the neutrality of the network, and allows different computers to decide the status of the system. To be confirmed, transactions must be clustered in a block with very strict encryption rules and must be confirmed by the network. These rules protect the previous blocks from modification because their modification will invalidate and eliminate all subsequent blocks. Prospecting also creates an equivalent system for a competitive Winamp system that prevents anyone from adding new blocks easily to the series of blocks. In this way, no one can control the contents of the blockchain or replace parts of it to retrieve what they have spent.

    Slip deep into the rabbit hole!

    This is just a very brief summary of the system. If you want to go into details, you can read the original document describing the design of the system, read the developer's documentation and explore the Wikiquote Wiki.

    Enregistrer un commentaire