There is this new currency which has hit the market that has become the craze for many people now. Everyone keeps talking about this exciting currency. Everyone wants to own it or be part of it. Which is this currency that has caught the entire craze? It is nothing but the bitcoin.
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If you are wondering What is a bitcoin then you will have the answer right here. This is just a new form of currency. This currency will be exchanged in the network itself. Since this is passed on in the network there is no one person who will transact or handle the entire bitcoin currency. This bitcoin currency is open to all. It is not controlled by a single authority here. Basically this bitcoin can be even considered as a mobile app or even a computer program that will have a bitcoin for every individual. This will help them to give and take all the bitcoins necessary for an individual user. There will be wallets for the users and each user will have the designated amount in the wallet. Basically users can just transact this bitcoin from their wallets.
In other aspects, bitcoin can be considered as a sharing ledger. There will be a public ledger which can be called as a block chain. This will hold all the details of the transactions that have happened previously as well as the present transactions. There will be digital signatures assigned to the transactions. This is given for the security purposes. These digital signatures will help in keeping track of all the transactions. It will also help in identifying each of the individual transactions as the signatures will be unique to each and every transaction that has happened in the network.