Bitcoin: what’s it? An eight-step information to cryptocurrencies

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Bitcoin is a form of electronic money (this is just a visual display).

Although we are all accustomed to the idea of ​​digital currency – spending and receiving money that is not physically in front of us – cryptocurrencies, such as Bitcoin, remain a mystery. bitcoin mining? How could we use the money in the future? And can we trust cryptocurrencies at all? In this quiz, we ask Dr. William John Knottenbelt, director of the Imperial College’s Center for Cryptocurrency Research and Engineering, to help us better understand this type of mysterious currency.

Bitcoin is a form of electronic money. This means that he has no physical form. Instead, e-money units are exchanged over a computer network that has some unique features: There is no central control point (no “bank”).

There is no central point of storage of transactions (central database containing a record of all executed transactions).

Instead, it runs on a global network with thousands and thousands of nodes — machines within a network like a computer or other device — that process and store transactions together.

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