Hello Community, I am new to cryptocurrency world.
I am hearing buzz words like Bitcoin, Block Chain, cryptocurrency.
I read some blog posts on the Coindesk & coinbase websites. But still I don't understand the concepts.
Does anyone have any small example explanation with images to understand better.
Bitcoin is a digital crypto currency that is not controled by any country's central bank or government. Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment.
Each user's Bitcoins are stored in a program called a digital wallet, which also holds each address the user sends and receives Bitcoins from.
Blockchain is a digital public ledger that provides a secure way of making and recording transactions, agreements and contracts – anything that needs to be recorded and verified as having taken place.
However, uniquely, rather than being kept in one place like the more traditional ledger book, the database is shared across a network of computers.
Cryptocurrency is a type of digital currency that uses cryptography for security and anti-counterfeiting measures. Public and private keys are often used to transfer cryptocurrency between individuals.
