How does Bitcoin work in simple terms?

3 answers

• Dec 26, 2021 · 3 years ago
  Sure! Bitcoin is a decentralized digital currency that allows people to send and receive money over the internet. It works on a technology called blockchain, which is like a digital ledger that records all transactions. When you send Bitcoin to someone, the transaction is verified by a network of computers called miners. These miners solve complex mathematical problems to validate the transaction and add it to the blockchain. Once the transaction is added to the blockchain, it is permanent and cannot be altered. This ensures the security and integrity of the Bitcoin network.
  581291
• Dec 26, 2021 · 3 years ago
  Bitcoin works by using a technology called blockchain, which is a decentralized and transparent public ledger. When you make a Bitcoin transaction, it is broadcasted to the network and included in a block. Miners then compete to solve a mathematical puzzle to validate the block. Once the block is validated, it is added to the blockchain and the transaction is considered confirmed. This process ensures the security and immutability of Bitcoin transactions.
  459153
• Dec 26, 2021 · 3 years ago
  Bitcoin is a digital currency that operates on a peer-to-peer network. When you send Bitcoin to someone, the transaction is broadcasted to the network and included in a block. Miners then verify the transaction by solving complex mathematical problems. Once the transaction is verified, it is added to the blockchain, which is a public ledger that records all Bitcoin transactions. This decentralized system ensures the transparency and security of Bitcoin transactions.
  470118