123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Stock-Market-Future-Market-Commodity-Market >> View Article

What Is Bitcoin? It Is Easy To Understand!

By Author: cbanx
Total Articles: 1

There are few things you can be sure of in life, but one is that at CBANX we deliver what we promise! This promise includes delivering to the readers of our CBANX blog. You keep hearing from friends about Bitcoin trading online and how they exchange Bitcoins for Euros. But what’s Bitcoin? You still don’t understand. Can anyone explain Bitcoin in a way that is easily understandable? Fret no longer, you have come to the right place.

Now, if you have already been involved in Bitcoin trading online for some time, you may want to skip this one and tune in again for our next article. However, if you are just getting ready to learn how to exchange Bitcoins for Euros and would like to finally understand what’s Bitcoin, then please keep reading.

Bitcoins for Beginners

Basically, the beginnings of Bitcoin date back to the year 2009 when an ingenious inventor or group of inventors known as “Satoshi Nakamoto” published the so-called “Bitcoin Whitepaper”. A whitepaper is an informative report on a complex topic. In this paper, Satoshi Nakamoto introduced the revolutionary idea of a new type of electronic cash, a digital currency.

Satoshi Nakamoto had come up with a new type of online payments. Instead of sending online payments via banks, like in the traditional world, the inventor proposed a type of payment system that would not need a central financial institution. Instead, this new type of electronic cash would be created for sending payments via a “peer-to-peer network”.

Peer-to-Peer Network

In the world of the web, peer-to-peer means that a computer system is connected to another computer system, which is connected to yet another system … you get the idea. Meaning that many computer systems together form a closed network within the internet. A closed computer system stores information and at the same time, shares that information with the other systems in its network. In essence, a network within the huge network that we call the internet.

Thus, basically the objective of the inventor or inventors was that people could send each other electronic cash without the need of a third party intermediary, such as a bank or institution. Instead, they would send cash using a closed network within the internet. The network would collectively process payments using certain technologies. The peer-to-peer network was to be faster in speed than traditional banks, safer than traditional banks and to offer low processing fees for these payment transactions.

For more information about Exchange Bitcoins visit our site https://www.cbanx.com/

Total Views: 96Word Count: 410See All articles From Author

Stock Market/Future Market/Commodity Market Articles

1. St Louis Ambica Food Grocery Store
Author: manastlouis

2. A Detailed Step-by-step Forex Trading Guide For Beginners
Author: Vietson

3. Октября 2013
Author: Luis Petrie

4. What Are Full-service Brokers? Who Is A Full-service Broker?
Author: Balaji Venkat

5. Collect And Use The Best Option Strategies For Earnings Now!
Author: Phil Hughes

6. Understand The Basics Of Share Market
Author: Nirav Singhaniya

7. Why Is Online Trading Beneficial?
Author: nishant dhar

8. Basics Of The Stock Market The Thing You Know About
Author: Epic Research

9. How To Deposit And Withdraw On Deltaexchange?
Author: emily blunt

10. Why You Should Choose Aryaamoney For Share Market Tips
Author: Aryaamoney

11. Stock Tips That Should Be Followed By New Investors
Author: Amit Kumar

12. Why Ipos Are Becoming Greater Scarce?
Author: Epic Research

13. What Is Online Forex Currency Trading?
Author: Robin Joe

14. Mice Model Market Worth 1,370.5 Million Usd By 2023
Author: savi bangar

15. The Global Medical Carts/workstations Market
Author: savi bangar

Login To Account
Login Email:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: