All about Bitcoin, the new digital currency Internet

What is BitCoin?

Bitcoin is an electronic currency created 2009 by Satoshi Nakamoto, though the technology used for network and using this virtual currency also receives same name. The main distinguishing feature of Bitcoin is that, as opposed to the currencies of the “real world”, not dependent on any issuer or central authority, but uses a distributed database network nodes P2P ( peer to peer ). Through these networks it is possible to transfer or maintain a monetary value completely anonymously. The value of bit coins can be stored in a computer in a kind of “virtual pocket”.

BitCoin technology

The software Bitcoin is free and open source, community maintained under the developers license and released under MIT (short for MIT). Bitcoin uses a technology peer to peer , user to user without any centralization. The Bitcoin encrypted network provides the security necessary to ensure that the virtual currency can only be worn only once, and of course only by its rightful owner. Bitcoin applications have a private key protected by an encrypted password. In the absence of any central authority regulating, it is impossible to manipulate the value of bitcoins coins.

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How does BitCoin?

To send or receive BitCoins is sender and receiver must have an address “bitcoin”. To begin, we have to install a software (available for Windows, Mac and Linux) that will act as our purse or in our computer or in our mobile device. Once installed the program on your computer, a unique address BitCoin will be generated. These addresses are used to send or receive money (actually a transfer of value). Each of these addresses can be sent to the person we want for them to pay us. We can also pay to those who give us their address BitCoin. You can generate free BitCoins many addresses as we wish. Transactions are fast and irreversible. We can also use our virtual wallet through a Bitcoin application for devices Android .

Where can it be used?

Increasingly, many businesses and companies world both on-line and real-world virtual currency BitCoin accepted as a payment method. Being in constant change and growth, it is best to consult the page created for this purpose in the Bitcoin Wiki.