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Monday, December 30, 2013


What is Bitcoin? How to earn them?

Bitcoin is a peer-to-peer payment network and digital currency based on an open source protocol, which makes use of a public transaction log. Bitcoin was introduced in 2009 by pseudonymous developer Satoshi Nakamoto. It is called a cryptocurrency as it uses public-key cryptography. When paying with bitcoin, there will be no exchange of digital notes or tokens between buyer and seller. Instead, the buyer requests an update to a public transaction log, the blockchain. This master list of all transactions shows who owns what bitcoins currently and in the past and is maintained by a decentralized network that verifies and timestamps payments.  The operators of this network, known as "miners", are rewarded with transaction fees and newly minted bitcoins.

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