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Cryptocurrency

Bitcoin fends off COVID-19 fears to rise 6%

2020欧洲杯投注开户March 19, 2020 15:19 PM IST

Bitcoin fends off COVID-19 fears to rise 6%

Bitcoin beats market turmoil to rise 17%

2020欧洲杯投注开户March 17, 2020 16:14 PM IST

Bitcoin beats market turmoil to rise 17%

03

Blockchain

SC verdict on cryptocurrencies: What it means for investors

2020欧洲杯投注开户March 25, 2020 10:36 AM IST

SC verdict on cryptocurrencies: What it means for investors

Despite SC breather, crypto players not reaching for champagne yet

2020欧洲杯投注开户March 10, 2020 10:37 AM IST

Despite SC breather, crypto players not reaching for champagne yet

Cryptocurrency | The time has come for this new-age currency

2020欧洲杯投注开户March 09, 2020 15:42 PM IST

Cryptocurrency | The time has come for this new-age currency

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About Cryptocurrency

About

Cryptocurrency

Blockchain, a trustless and distributed consensus system, allows you to send and/or receive money from someone without turning to third-party services. By creating a distributed network of ledgers that work together to keep all transactions, contracts and accounts public, they eliminate the need for mediation to large extent via a concept named as Proof of work. Proof of work is a requirement to define an expensive computer calculation, also called mining, that needs to be performed in order to create a new group of trustless transactions (the so-called block) on a distributed ledger called blockchain. All the network’s miners compete to be the first to find a solution for the mathematical problem that concerns the candidate block, a problem that cannot be solved in other ways than through brute force, essentially requiring a huge number of attempts. When a miner finally finds the right solution, he/she announces it to the whole network at the same time, receiving a cryptocurrency prize (the reward) provided by the protocol.

Bitcoin has a cryptographic security feature to ensure that only the owner of a Bitcoin can spend it. The idea is that the owner generates two numbers—a private key that is secret and a public key that is published. The public key can be easily generated from the private key, but not vice versa. A signature can be used to verify that the owner holds the private key, without revealing the private key, using a technique known as an elliptic curve signature scheme. In this way, the receiver can verify that the owner possesses the private key and therefore has the right to spend the Bitcoin. Read More

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