Price: $15.95
(as of Jan 25,2025 21:34:09 UTC – Details)
Publisher : Independently published (June 17, 2019)
Language : English
Paperback : 106 pages
ISBN-10 : 1794326316
ISBN-13 : 978-1794326316
Item Weight : 5.9 ounces
Dimensions : 5.5 x 0.24 x 8.5 inches
Customers say
Customers find the book’s explanations clear and easy to understand. They describe it as a great read and one of the best Bitcoin books. Many readers consider it an excellent primer for beginners, providing a strong understanding of how Bitcoin works without needing degrees in math. The book is considered valuable and worth the price. It’s relatively short with common sense language, making it a convenient read in a day.
AI-generated from the text of customer reviews
Bitcoin, the first decentralized digital currency, has taken the financial world by storm since its inception in 2009. But how exactly does this revolutionary technology work? In this post, we will delve into the intricacies of Bitcoin and explore the technology behind it.
At the heart of Bitcoin is a technology known as blockchain. A blockchain is a decentralized, distributed ledger that records all transactions made with a particular cryptocurrency. In the case of Bitcoin, the blockchain is a public ledger that is maintained by a network of computers known as nodes.
When a transaction is made with Bitcoin, it is broadcast to the network of nodes, which then validate the transaction and add it to the blockchain. This process, known as mining, involves solving complex mathematical puzzles to verify the authenticity of the transaction. Once a transaction is added to the blockchain, it is considered final and cannot be reversed.
One of the key innovations of Bitcoin is its use of cryptography to secure the network. Each user is assigned a unique cryptographic key, which is used to sign transactions and prove ownership of Bitcoin. This allows for secure, anonymous transactions without the need for a trusted third party.
Another key feature of Bitcoin is its scarcity. Unlike traditional currencies, which can be printed at will by central banks, Bitcoin has a fixed supply of 21 million coins. This scarcity is enforced by the network protocol, which dictates that only a certain number of new coins can be created with each block of transactions.
Overall, Bitcoin represents a groundbreaking combination of decentralized technology, cryptography, and economics. It has the potential to revolutionize the way we think about money and finance, offering a truly scarce and decentralized alternative to traditional currencies.
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