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The Essence of How Bitcoin Works (Non-Technical) Posted on 18/09/2017 18/09/2017 Silver Lining Posted in IT News , IT Support Dubai For anyone that is a little confused or simply wants to understand a little more about Bitcoin and how it works,
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The Essence of How Bitcoin Works A brief intro to the main ideas behind How Bitcoin Works, including how money is transferred, who keeps track of it, and how the whole thing is secured.
With that said, on to how it works. Bitcoin lets people exchange money electronically as easily as sending an email or text. To send money you use what’s called a wallet app to type in an amount, enter or scan or recipients account number and hit send. The recipient will then see the money pop up in their account.
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06/09/2014 · The Essence of How Bitcoin Works (Non-technical) A less-technical introduction to the main ideas behind how Bitcoin works, including how money is transferred, who keeps track of it, and how everything is secured. This is the written version of the following video:
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Just like the way one can send money from one person to another, this video enlightens us that Bitcoin can also be transferred from person A to person B. It also lectures that in order to avoid theft, Bitcoin devised a form of security measures in which each account owner owns an encryption key,