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What is Bitcoin? - Definition from WhatIs.com

Bitcoin-to-Bitcoin transactions are made by digitally exchanging anonymous, heavily encrypted hash codes across a peer-to-peer ( P2P ) network. The P2P network monitors and verifies the transfer of Bitcoins between users. Each user's Bitcoins are stored in a program called a...

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Related topics : bitcoin wallet address private key / bitcoin wallet address generator / bitcoin wallet address / bitcoin digital currency exchange / bitcoin p2p digital currency

What is Bitcoin mining? - Definition from WhatIs.com

Bitcoin mining is the processing of transactions in the digital currency system, in which the records of current Bitcoin transactions, known as a blocks, are added to the record of past transactions, known as the block chain.

A Bitcoin is defined by the digitally signed record of its transactions, starting with its creation. The block is an encrypted hash proof of work, created in a compute-intensive process. Miners use software that accesses their processing capacity to solve transaction-related algorithms . In return, they are awarded a certain number of Bitcoins per block. The block chain prevents attempts to spend a Bitcoin more than once --...

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Related topics : mining pool software bitcoin / mining pool bitcoin / bitcoin transactions per block / bitcoin mining computer power / bitcoin mining computer

What is cryptocurrency? - Definition from WhatIs.com

A cryptocurrency is a digital medium of exchange that uses encryption to secure the processes involved in generating units and conducting transactions.

There are hundreds...

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Related topics : bitcoin wallet address private key / bitcoin wallet address example / bitcoin digital wallet / bitcoin wallet private key generator / bitcoin p2p digital currency