We describe how bitcoin works and how it was created. We begin with general concepts and end up with highly relevant technical aspects. This article is divided in 3 parts: i) "The bitcoin pillars." ii) "A decentralized world." iii) "The blockchain."
We describe how bitcoin works and how it was created. We begin with general concepts and end up with highly relevant technical aspects. This article is divided in 3 parts: i) "The bitcoin pillars." ii) "A decentralized world." iii) "The blockchain."
In order to understand the concept of bitcoins, we must immerse ourselves in the creator's mind. In this sense, the article explores a possible scenario full of thoughts and obstacles that allowed the creator to develop this digital currency. In the first part entitled: "The bitcoin pillars," we describe the fundamentals that allowed the creator to build the universe of bitcoins, these are i) anonymity, ii) infinite divisibility, and iii) the concept of the reward. In the second part entitled: "A decentralized world," we talk about cryptography, a concept that allows us to understand how a digital currency works. We discuss important points such as the digital signature and the encryption of the public key, we conclude with an introduction to the blockchain that is fully developed in the third part entitled: "The blockchain." Click the button below to continue reading:
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