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Bitcoin: How does Bitcoin work?

2019-12-30 10:54:51

The topic to be discussed will be Bitcoin in this guide, in which we will specify the details that will allow us to understand how Bitcoin works.

 It is possible that we enter the Bitcoin world and have many doubts about it, we will certainly have a wallet for our PC or mobile, the result will be our address, being the specific one to use, in the same way as an email, only that To give it a better use, this one opportunity should be used, now our topic in this guide is to help us understand in many details how Bitcoin works, which will lead us to the following content.

How does Bitcoin work?

  • ·          Transactions - private keys

It is the way in which the values ​​are transferred between the purses, in this case we talk about Bitcoin, these have a private key, which is a kind of verification of the operation with mathematical proof that allows to know that said transaction is carried out by the owner, when the signature is issued avoids the alterations of the same, through the mining process will be confirmed by the network in 10 minutes, disseminated among users.

  •  ·            Balances - blockchain

 The bitcoin network is based on a shared accounting, which includes all confirmed transactions, which helps the purses manage to calculate the expendable balance and can verify the transcations, while ensuring that the payment can be made to which is paying, cryptography allows both the integrity and the chronological order of the blockchain to be fulfilled.

  • ·            Mining process

 Once the transactions are included in the blockchain, mining confirms this process, in which it enforces the chronological order, safeguards the net neutrality and covers the agreement between the equipment related to the state of the system. , the encryption rules will be of great importance, since with these transactions can be confirmed, to be packed in a block that fits this process, verified at the same time by the network, in this way it will be impossible to modify any block, which in turn invalidates the remains of those who follow, it is also possible that mining causes the impediment for people seeking to add new blocks in the blockchain, which prevents undue control in relation to this so that Your expenses try to be reversed.

 So our guide is finalized, in which we talk about Bitcoin and with the details of the explanation to one of the doubts that anyone could have, being this one of how Bitcoin works, without saying more, we hope that this content will be useful to those who spent time reading.

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