Bitcoin

Many people are familiar with the term “bitcoins”, but not everyone is aware of the different ways in which it works and how it came into existence. In a nutshell, bitcoins are a form of currency that utilizes a peer-to Peer technology for complete security and privacy. Unlike traditional currencies, bitcoins function without a third party or central bank to issue them. Instead, each computer connected to the network holds a certain amount of bitcoins which are divided up between the users. All transactions are made under this form of currency in a process called “mining”.

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