Thursday, 18 May 2017

Bitcoin

What is bitcoin ? What are the uses of bitcoin ?
Does blockchain  is relivent to bitcoin?
Where we can buy / or get bitcoin ?
Does it is physical ?

Hy, guys this is vijay and you are in mobilenhack

Bitcoin is a digital and global money system(currency). It allows people to send or receive money across the internet, even to someone they don't know or don't trust. Money can be exchanged without being linked to a real identity. The mathematical field of! cryptographyis the basis for Bitcoin's security.
Yes , Sites or users using the Bitcoin system are required to use a global database called the blockchain.
The blockchain is a record of all transactions that have taken place inthe Bitcoin network. It also keeps track of new bitcoins as they are generated. With these two facts, the blockchain is able to keep track of who has how much money at all times.
The next question where you can get these coin. To generate a bitcoin, computers runspecialized software. Because of how complicated the math needed togenerate a bitcoin is, they must be calculated with very powerfulprocessors. These processors can be found in CPUs, graphics cards, or specialized machines called ASICs. The process of generating the bitcoins is called mining. People whouse their computers to mine Bitcoin, are paid with a small percentage of the bitcoins they generate.

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