As a new user, you can get started with Bitcoin
without understanding the technical details. Once you installed a Bitcoin
wallet on your computer or mobile phone, it will generate your first Bitcoin
address and you can create more whenever you need one. You can disclose your
addresses to your friends so they can pay you or visa versa. In fact, this is
pretty similar to how email works, except that Bitcoin addresses should be only
be used.
The
block chain is a shared public ledger on which the entire Bitcoin network
relies. All confirmed transactions are included in the block chain. This way,
Bitcoin wallets can calculate their spendable balance and new transactions can
be verified to be spending bit coins that are actually owned ny the spender.
The integrity and the chronological order of the block chain are enforced with
cryptography.
A
transaction is a transfer of value between Bitcoin wallets that gets included
in the block chain. Bitcoin wallets keep a secret piece of data called a
private key or seed, which is used to sign transactions, providing a
mathematical proof that they have come from the owner of the wallet. The
signature also prevents the transaction from being altered by anybody once it
has been issued. All transactions are broadcasted between users and usually
begin to be confirmed by the network in the following 10 minuets, through a
process called mining.
This
is just some of the things that happen with Bitcoins. If you want more reading
go to these websites below.
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