What is the underlying technology behind Bitcoin?

3 answers

• Apr 30, 2022 · 3 years ago
  Bitcoin is powered by a technology called blockchain, which is a decentralized and distributed ledger. It is a public database that records all transactions made with Bitcoin. The blockchain technology ensures transparency, security, and immutability of the transactions. It works by using a network of computers, called nodes, that validate and verify each transaction. These transactions are then grouped into blocks and added to the blockchain in a chronological order. The blockchain technology behind Bitcoin allows for peer-to-peer transactions without the need for intermediaries like banks or governments. It has revolutionized the financial industry and has the potential to disrupt various other industries as well.
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• Apr 30, 2022 · 3 years ago
  The underlying technology behind Bitcoin is called blockchain. It is a decentralized and transparent ledger that records all Bitcoin transactions. The blockchain technology ensures that every transaction is secure and cannot be tampered with. It achieves this by using cryptographic algorithms and a network of computers that validate and verify each transaction. This technology has gained a lot of attention and is being explored for various other applications beyond cryptocurrencies, such as supply chain management, voting systems, and more.
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• Apr 30, 2022 · 3 years ago
  Bitcoin operates on a technology called blockchain. Blockchain is a distributed ledger that stores all the transactions made with Bitcoin. It is decentralized, meaning that there is no central authority controlling it. Instead, it relies on a network of computers that work together to validate and verify transactions. This technology ensures that transactions are secure, transparent, and cannot be altered. It has the potential to revolutionize not only the financial industry but also other sectors like healthcare, real estate, and more. Blockchain technology has gained a lot of attention and is being adopted by various industries for its potential to improve efficiency and security.
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