There are some people who believe in the phrase "Do not take jobs, I will give jobs". My friend Taki is one of them. He is working diligently to do something as a sponsor.
So, even before the start of Bitcoin, he was eager to do something about Bitcoin. But he was a little bit relieved by studying bitkayena! There is no end to discussion, criticism and debate about Bitcoin! So, he started to move in step by step. At first he wanted to understand what is the bitcoin?
- What is Bitcoin?
Bitcoin is made in 2009. Satoshi Nakamoto is a person called Bitcoin creator. But the strange wonder that his identity is still mysterious! He could not be found yet!
Of course, after seeing the price of Bitcoin, the interest of Taqi increased! He found the net worth 13,383.90 dollars a bitcoin. However, this price is very fluctuating. Then she asked how Bitcoin was actually created.
No state is the controlling authority of Bitcoin, as a result there is no licensed organization to control Bitcoin. That means when, how many bits will be made, there are no existing bittakens in the market, or there is nobody to see Bitcoin fraud.
After getting the basic idea about Bitcoin, Taqi thinks how exactly Bitcoin exchange, Bitcoin must know before even selling!
- Bitcoin Exchange Method:
Bitcoin is sometimes called the first cryptocarbon in the world. Bitcoin is the exchange of cryptococcerns through the computer's "peer to peer" network. The main purpose of this network is to share data. This data can be different. For example, movies, songs, documents, etc.
Taki then started to suffer a little confused. It is possible to duplicate the digital data, then it is possible to make fake Bitcoin too? But the anxiety of Taqi did not last long. Bitcoin can not make fake bitekayah even if it is a digital currency even after being a digital currency.
The main reason is that it can not be duplicated if you want Bitcoin like a video or audio file. In fact, an entry to a huge global database called Bitcoin Blockchain. Blockquin keeps all the accounts of Bitcoin accountable. So far, data collected in blockchain 148,945 megabytes.
But who puts this blockchain account? It was noticed that since there is no controlling authority for Bitcoin, there is no recognized authority to maintain the account of Blockchain. The account of exchange between the Bitcoin Account (called "Wallet") is self-motivated by people from different parts of the world.
He decided that he would also keep a record of Bitcoin exchange. He first bought a special problem solving computer. Then, placed a strong solar panel on the roof of his own house. Because, these computers require lots of power to use. It is not possible to run this bill with electricity bills on behalf of the taki. Instead, he can save a lot of money with his own solar panel.
Now, sitting on the computer, began to keep accounts. When Bitcoin is exchanged, the exchangeers announced that exchange and accountants like Takbir update the information in Blockchain.
As many people update the same information, it is seen that if someone tries to fraud, that attempt is found. When the first block of Taqi was completed by updating the information, he started using new blocks. In this way, using block one by one formed a blockchain.
While updating Taki Blockchain, Bitcoin records three issues of exchange. Such as
Sender Wallet Number
Receiver's Wallet Number
How many bits are being sent
But many people seemed to be at risk of being accountable with the account number information. Anyone can send Bitcoin to another wallet from Bitcoin Wallet.
One day he told Nahyan brother about this risk to eat tea in TSC Then Nahian's brother said to him, "Cryptography is used to avoid this risk, and this is why Bitcoin is called a cryptocarbon."
Taki: "But brother, how does this cryptography work?"
Nahian brother: "Two keys / keys are used in Bitcoin wallets. One is the private key and the other is the public key. This key is two unique and it ensures the exchange of bitcoin exchange. Suppose I will send the data of Bitcoin, with the private key, I will mark that data.
Later, my public key is verified by the data, if the private keymarks and public keys are matched, then everyone will know that I actually sent the data. The characteristics of these two keys are that it can not be duplicated as a credit card number or signature. "
Taki: "Wow! Let's get anxious! "
Nahian brother: "Yes, it's almost impossible to steal Bitcoin. This is also a reason behind the huge popularity of Bitcoin. "
- Ways to Build Bitcoin:
Accountants like Takya work to maintain the calculation of Bitcoin blockchain many times, money and labor. All of them have a special purpose. An accountant received 12.5 bitcountains to add a new block to BlockChain.
Those who do this work are called "miner". Because, they take up the bitcoin on computer like gold lifting from gold. Bitcoin is only made to reward miners.
- Bitcoin scarcity:
It was very happy to get 12.5 bitcakes by adding the first block. But his happiness did not stay long. Because, initially, 50 bitcins were given to add a block blockbain. But every 210,000 blocks add to the blockchain when the number of prizes bitscake is reduced to half.
So, later 50 to 25 bitkayen and 12.5 bitcakes are now awarded. In the future, the number of bittacquins rewarded will be further reduced. Bitcoin has been done in such a way that the supply of bitcoin will be precise and limited.
According to different calculations, the last bitcoin will be created in 2140.
This limited and precise supply makes Bitcoin so valuable. There will be a lot of disagreements over the future of Bitcoin, how long this high rate will be maintained.
Still, you can not understand what will be done in such uncertainty! What will you do in front of him and try to focus on the future of Bitcoin?
But undoubtedly, Bitcoin has unveiled a new horizon in the field of economy and technology