As you known bitcoin is a digital currency but this is not enough knowledge to makes investment in cryptocurrency like bitcoin and so on. Then we start from what is bitcoin and continue now to get full knowledge about the cryptocurrency, for you, we drop the link of this post bellow.
before learning how bitcoin cryptocurrency works we discuss some history of cryptocurrency then we discuss this all points into sections that carry it,s own importance.
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History of cryptocurrency Bitcoin
(1) Bitcoin Cryptocurrency is the first decentralized currency invented by Satoshi Nakamoto in Japan in 2009.
(2) but bitcoin is not the first cryptocurrency idea because it introduces from 1998 -2009 that name is bit-money and bit-gold but not successfully runs in the market.
(3)bitcoin idea was firstly introduced by a one of mailing list whose persons name is Satoshi Nakamoto
(4) Satoshi Nakamoto introduces the world that peer to the peer transaction system which uses in cryptocurrency.
(5)It's not proof that Satoshi Nakamoto is a person or group of people because it's the only name that comes from the mailing account.
(6)It is not that the cryptocurrency has never been fraudulent.cryptocurrency faced hacking 2014 RS Hacking stole, more than 850000 bitcoins, and lost more than 400 million rupees. but now technology is becoming advanced, but at the same time hacking is repeating itself over time.
now we will see how cryptocurrency works.
we will understand this concept on the basis of some issues.so let's start a topic
you know that crypto is the currency's digital currency. the currency that it works with the cryptography for making security transaction in bitcoin, and cryptocurrency system also have a large part of algorithms.so we are going to touch on such points further.
(1) peer to peer transaction :
security is given maximum importance in the system of cryptocurrency. with no owner of the cryptocurrency, it can be treaded directly from one man to another
peer to peer transaction system is the best way to tread without any third party involvement between to main parties which is buyer and seller.
in this system, not any human needs for collecting the fees of exchanging the currencies
pre-program activities are important for matching the buyers and seller's transactions at the preferred amount or own buying
peer to peer transaction best than any other software using for this types of transaction
algorithms in cryptocurrencies
algorithms are used for the smooth transaction and client matching in the system cryptocurrencies
algorithms are used for finding bucks and other related problems in the exchange
algorithms generate an entry in the order book of buyer and seller accounts
algorithms are used for massaging information about your trade at after completing the order
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