• The Bitcoin and Blockchain Technology Explained

    A block chain is a transaction database shared by all nodes participating in a system based on the Bitcoin protocol. A full copy of a currency's block chain contains every transaction ever executed in the currency. With this information, one can find out how much value belonged to each address at any point in history. ------------------------------------------------------------------- BUY BITCOIN SAFELY HERE: http://bit.ly/BuyBitcoinNow ------------------------------------------------------------------- REGISTER FOR A COINBASE ACCOUNT: http://bit.ly/CoinbaseBitcoinSignup ------------------------------------------------------------------- Every block contains a hash of the previous block. This has the effect of creating a chain of blocks from the genesis block to the current block. Each b...

    published: 23 Jun 2015
  • Block chain technology

    Read our report on the future of distributed ledger (or block chain) technology https://www.gov.uk/government/publications/distributed-ledger-technology-blackett-review

    published: 19 Jan 2016
  • IBM Think Academy: Blockchain, How it works

    Learn more about how blockchain works and see it in action within the diamond industry, which has been plagued by fraud, theft and controversy.

    published: 23 Sep 2016
  • The Bitcoin Blockchain Explained

    Forget the currency; it’s the protocol behind it that matters. Blockchains will mutate and take over everything we do on the Web. Trusting strangers with your digital information may sound silly, but it’s actually a revolution in distributed computing. And one day, systems like Bitcoin could be the future of all secure digital transactions. Read more: http://bit.ly/29jiJ3B

    published: 06 Jul 2016
  • How the blockchain is changing money and business | Don Tapscott

    What is the blockchain? If you don't know, you should; if you do, chances are you still need some clarification on how it actually works. Don Tapscott is here to help, demystifying this world-changing, trust-building technology which, he says, represents nothing less than the second generation of the internet and holds the potential to transform money, business, government and society. TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world's leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design -- plus science, business, global issues, the arts and much more. Find closed captions and translated subtitles in many languages at http://www.ted.com/translate ...

    published: 16 Sep 2016
  • Blockchain Demo with IBM z Systems

    IBM Fellow Donna Dillenberger explains the power of blockchain via a Trading Financial Services Demo.This demonstration takes an existing financial trading business process and shows how it can be greatly improved using IBM Blockchain running on and leveraging unique capabilities of IBM z Systems. To learn more about IBM z Systems and Blockchain, please visit IBM on the web at http://www.ibm.com/blockchain/z.html

    published: 16 Feb 2016
  • The Blockchain & Bitcoin - Computerphile

    Blockchain is the underlying technology behind cryptocurrencies bringing together Merkle trees, Hashing & Distributed Architecture. Christopher Ellis explains. Note1 - At 6:46 when Chris is drawing the Merkle Tree, C would actually be duplicated and hashed with itself not with B. So you would get H(C - C) instead of H(B - C). Note2 - At minute 17, Christopher mentioned the mining reward halving at 21,000 bitcoins but meant 210,000 blocks. Public Key Encryption: https://youtu.be/GSIDS_lvRv4 The Perfect Code: https://youtu.be/WPoQfKQlOjg http://www.facebook.com/computerphile https://twitter.com/computer_phile This video was filmed and edited by Sean Riley. Computer Science at the University of Nottingham: http://bit.ly/nottscomputer Computerphile is a sister project to Brady Haran'...

    published: 24 Mar 2017
  • Impact of Blockchain/Distributed Ledger on Financial Services and Payment Systems

    On January 14, Brookings convened roundtable technical discussions about the future of distributed ledger technology with industry and policy stakeholders. http://www.brookings.edu/events/2016/01/14-beyond-bitcoin-blockchain-disruptive-financial-technologies Subscribe! http://www.youtube.com/subscription_center?add_user=BrookingsInstitution Follow Brookings on social media! Facebook: http://www.Facebook.com/Brookings Twitter: http://www.twitter.com/BrookingsInst Instagram: http://www.Instagram.com/brookingsinst LinkedIn: http://www.linkedin.com/com/company/the-brookings-institution

    published: 15 Jan 2016
  • Blockchain - A short introduction

    What is the Blockchain? This 2 minute video explains it in a very easy way. As usual, please leave you questions and ideas in the comments. with love your MinuteVideos Team Video Script: Scene 1 Blockchain is a Peer to Peer software technology that protects the integrity of a digital piece of information. It was invented to create the alternative currency Bitcoin but may be used for other cryptocurrencies, online signature services, voting systems and many other applications. In this video we explain how it works and what makes it special. Scene 2 Everyone uses paper money. When you get a 10 dollar bill you trust that it's not fake. If instead someone sent you an email saying "here's 10 dollars" you probably wouldn’t trust it. But when we "transfer money", use an ATM or pay with...

    published: 29 Apr 2016
  • Borderless Blockchain Election System

    Imagine if elections were completely transparent and auditable by every citizen. http://polls.borderless.tech

    published: 31 Oct 2016
  • IBM Blockchain Car Lease Demo

    The video shows a sample supply chain process between multiple parties. For more information, please visit http://www.ibm.com/blockchain/for_developers.html

    published: 01 Mar 2016
  • What is Blockchain? | CNBC Explains

    Blockchain is a global online database that anyone with an internet connection can use, but it doesn't belong to anyone. CNBC's Tom Chitty explains. ----- Subscribe to CNBC International: http://bit.ly/1eiWsDq Like our Facebook page https://www.facebook.com/cnbcinternational Follow us on Instagram @cnbcinternational Follow us on Twitter https://twitter.com/CNBCi Subscribe to our WeChat broadcast CNBC_international

    published: 31 Mar 2017
  • Blockchain Technology Explained: What is a Blockchain?

    This video https://youtu.be/eXJHPDs4M3Y provides an easy to understand introduction to Blockchain Technology. Please leave comments and questions below the video. Here is the full transcript for your convenience: What is a Blockchain? A Blockchain is a distributed database that multiple parties share and everyone can trust. A Blockchain network provides a mutually trusted, transparent way of sharing and transacting. Each party participating in a Blockchain network maintains their own copy of the database. What makes Blockchain secure? Transactions on the database are atomic (this means that they're processed one at a time). The next transaction will be a different write or a read, but only after the preceding transaction has completed (or failed). Each write to the database is consider...

    published: 12 Mar 2017
  • Verifiable Blockchain Voting Software Demo (Full Length) | Follow My Vote

    This is a user experience demo of our open-source end-to-end verifiable blockchain voting software. Visit our website for more information and to contact us: https://followmyvote.com/ Note: The completed software release is not guaranteed to have the exact same look and feel.

    published: 26 Mar 2016
  • A Simple Introduction to The Block Chain

    One of the most important technologies in the world at the moment is the distributed ledger system known as the block chain. Graeme Codrington of TomorrowToday Global explains what it is in simple terms. Block chain will change the way we record transactions, conclude contracts and transfer money - it will affect everything. You need to understand it.

    published: 28 Aug 2016
  • Bitcoin and blockchain Hacker Working 2017 !!!!

    ~~~~`~~~~Updated~~~~~~~~~~~ Download Link: https://goo.gl/8CkxqY btc hacker bitcoin mining hack 2016 bitcoin generator hack tool 2016, bitcoin hack tool, Bitcoin hack working 2016 2017. Free bitcoin hack 2016. Earn bitcoin hack 2016. This bitcoin hack tool is working 100%, earn bitcoins with the Bitcoin hack tool tested on 2017. what is bitcoin ? Bitcoin is a cryptocurrency and a payment system[14]:3 invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto.[15] Bitcoin was introduced on 31 October 2008 to a cryptography mailing list,[16] and released as open-source software in 2009.[17] There have been various claims and speculation concerning the identity of Nakamoto, none of which are confirmed.[15] The system is peer-to-peer and transaction...

    published: 26 Jan 2017
The Bitcoin and Blockchain Technology Explained

The Bitcoin and Blockchain Technology Explained

  • Order:
  • Duration: 6:16
  • Updated: 23 Jun 2015
  • views: 185605
videos
A block chain is a transaction database shared by all nodes participating in a system based on the Bitcoin protocol. A full copy of a currency's block chain contains every transaction ever executed in the currency. With this information, one can find out how much value belonged to each address at any point in history. ------------------------------------------------------------------- BUY BITCOIN SAFELY HERE: http://bit.ly/BuyBitcoinNow ------------------------------------------------------------------- REGISTER FOR A COINBASE ACCOUNT: http://bit.ly/CoinbaseBitcoinSignup ------------------------------------------------------------------- Every block contains a hash of the previous block. This has the effect of creating a chain of blocks from the genesis block to the current block. Each block is guaranteed to come after the previous block chronologically because the previous block's hash would otherwise not be known. Each block is also computationally impractical to modify once it has been in the chain for a while because every block after it would also have to be regenerated. These properties are what make double-spending of bitcoins very difficult. The block chain is the main innovation of Bitcoin. Honest generators only build onto a block (by referencing it in blocks they create) if it is the latest block in the longest valid chain. "Length" is calculated as total combined difficulty of that chain, not number of blocks, though this distinction is only important in the context of a few potential attacks. A chain is valid if all of the blocks and transactions within it are valid, and only if it starts with the genesis block. For any block on the chain, there is only one path to the genesis block. Coming from the genesis block, however, there can be forks. One-block forks are created from time to time when two blocks are created just a few seconds apart. When that happens, generating nodes build onto whichever one of the blocks they received first. Whichever block ends up being included in the next block becomes part of the main chain because that chain is longer. More serious forks have occurred after fixing bugs that required backward-incompatible changes. Blocks in shorter chains (or invalid chains) are not used for anything. When the bitcoin client switches to another, longer chain, all valid transactions of the blocks inside the shorter chain are re-added to the pool of queued transactions and will be included in another block. The reward for the blocks on the shorter chain will not be present in the longest chain, so they will be practically lost, which is why a network-enforced 100-block maturation time for generations exists. These blocks on the shorter chains are often called "orphan" blocks. This is because the generation transactions do not have a parent block in the longest chain, so these generation transactions show up as orphan in the listtransactions RPC call. Several pools have misinterpreted these messages and started calling their blocks "orphans". In reality, these blocks have a parent block, and might even have children. Because a block can only reference one previous block, it is impossible for two forked chains to merge. • How do Bitcoin Transactions Work? http://www.coindesk.com/information/how-do-bitcoin-transactions-work/ ------------------------------------------------------------------- DID YOU LIKE THIS VIDEO? ------------------------------------------------------------------- Enjoy this video? Click "Mark as good" and give your "LIKE". Subscribe to our channel and follow our publications. Consider making a small Bitcoin donation to this address: 3C2Ti2wegJDFw1Kp3w71Mtr9bKkhyCz8fa. ------------------------------------------------------------------- BUY BITCOIN SAFELY HERE: http://bit.ly/BuyBitcoinNow ------------------------------------------------------------------- REGISTER FOR A COINBASE ACCOUNT: http://bit.ly/CoinbaseBitcoinSignup ------------------------------------------------------------------- ------------------------------------------------------------------- Video credits ------------------------------------------------------------------- http://www.bitcoinproperly.org/ Tags: BTC Bitcoin Bit coin Altcoin Cryptocurrency Buy Bitcoin Sell Bitcoin Bitcoin trading Bitcoin value Bitcoin wallet Bitcoin blockchain Blockchain Satoshi Nakamoto Digital currency
https://wn.com/The_Bitcoin_And_Blockchain_Technology_Explained
Block chain technology

Block chain technology

  • Order:
  • Duration: 5:15
  • Updated: 19 Jan 2016
  • views: 146578
videos
Read our report on the future of distributed ledger (or block chain) technology https://www.gov.uk/government/publications/distributed-ledger-technology-blackett-review
https://wn.com/Block_Chain_Technology
IBM Think Academy: Blockchain, How it works

IBM Think Academy: Blockchain, How it works

  • Order:
  • Duration: 3:35
  • Updated: 23 Sep 2016
  • views: 146005
videos
Learn more about how blockchain works and see it in action within the diamond industry, which has been plagued by fraud, theft and controversy.
https://wn.com/Ibm_Think_Academy_Blockchain,_How_It_Works
The Bitcoin Blockchain Explained

The Bitcoin Blockchain Explained

  • Order:
  • Duration: 3:41
  • Updated: 06 Jul 2016
  • views: 37535
videos
Forget the currency; it’s the protocol behind it that matters. Blockchains will mutate and take over everything we do on the Web. Trusting strangers with your digital information may sound silly, but it’s actually a revolution in distributed computing. And one day, systems like Bitcoin could be the future of all secure digital transactions. Read more: http://bit.ly/29jiJ3B
https://wn.com/The_Bitcoin_Blockchain_Explained
How the blockchain is changing money and business | Don Tapscott

How the blockchain is changing money and business | Don Tapscott

  • Order:
  • Duration: 18:50
  • Updated: 16 Sep 2016
  • views: 394201
videos
What is the blockchain? If you don't know, you should; if you do, chances are you still need some clarification on how it actually works. Don Tapscott is here to help, demystifying this world-changing, trust-building technology which, he says, represents nothing less than the second generation of the internet and holds the potential to transform money, business, government and society. TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world's leading thinkers and doers give the talk of their lives in 18 minutes (or less). Look for talks on Technology, Entertainment and Design -- plus science, business, global issues, the arts and much more. Find closed captions and translated subtitles in many languages at http://www.ted.com/translate Follow TED news on Twitter: http://www.twitter.com/tednews Like TED on Facebook: https://www.facebook.com/TED Subscribe to our channel: http://www.youtube.com/user/TEDtalksDirector
https://wn.com/How_The_Blockchain_Is_Changing_Money_And_Business_|_Don_Tapscott
Blockchain Demo with IBM z Systems

Blockchain Demo with IBM z Systems

  • Order:
  • Duration: 9:31
  • Updated: 16 Feb 2016
  • views: 11759
videos
IBM Fellow Donna Dillenberger explains the power of blockchain via a Trading Financial Services Demo.This demonstration takes an existing financial trading business process and shows how it can be greatly improved using IBM Blockchain running on and leveraging unique capabilities of IBM z Systems. To learn more about IBM z Systems and Blockchain, please visit IBM on the web at http://www.ibm.com/blockchain/z.html
https://wn.com/Blockchain_Demo_With_Ibm_Z_Systems
The Blockchain & Bitcoin - Computerphile

The Blockchain & Bitcoin - Computerphile

  • Order:
  • Duration: 17:46
  • Updated: 24 Mar 2017
  • views: 130858
videos
Blockchain is the underlying technology behind cryptocurrencies bringing together Merkle trees, Hashing & Distributed Architecture. Christopher Ellis explains. Note1 - At 6:46 when Chris is drawing the Merkle Tree, C would actually be duplicated and hashed with itself not with B. So you would get H(C - C) instead of H(B - C). Note2 - At minute 17, Christopher mentioned the mining reward halving at 21,000 bitcoins but meant 210,000 blocks. Public Key Encryption: https://youtu.be/GSIDS_lvRv4 The Perfect Code: https://youtu.be/WPoQfKQlOjg http://www.facebook.com/computerphile https://twitter.com/computer_phile This video was filmed and edited by Sean Riley. Computer Science at the University of Nottingham: http://bit.ly/nottscomputer Computerphile is a sister project to Brady Haran's Numberphile. More at http://www.bradyharan.com
https://wn.com/The_Blockchain_Bitcoin_Computerphile
Impact of Blockchain/Distributed Ledger on Financial Services and Payment Systems

Impact of Blockchain/Distributed Ledger on Financial Services and Payment Systems

  • Order:
  • Duration: 1:42:09
  • Updated: 15 Jan 2016
  • views: 5380
videos
On January 14, Brookings convened roundtable technical discussions about the future of distributed ledger technology with industry and policy stakeholders. http://www.brookings.edu/events/2016/01/14-beyond-bitcoin-blockchain-disruptive-financial-technologies Subscribe! http://www.youtube.com/subscription_center?add_user=BrookingsInstitution Follow Brookings on social media! Facebook: http://www.Facebook.com/Brookings Twitter: http://www.twitter.com/BrookingsInst Instagram: http://www.Instagram.com/brookingsinst LinkedIn: http://www.linkedin.com/com/company/the-brookings-institution
https://wn.com/Impact_Of_Blockchain_Distributed_Ledger_On_Financial_Services_And_Payment_Systems
Blockchain - A short introduction

Blockchain - A short introduction

  • Order:
  • Duration: 2:08
  • Updated: 29 Apr 2016
  • views: 107250
videos
What is the Blockchain? This 2 minute video explains it in a very easy way. As usual, please leave you questions and ideas in the comments. with love your MinuteVideos Team Video Script: Scene 1 Blockchain is a Peer to Peer software technology that protects the integrity of a digital piece of information. It was invented to create the alternative currency Bitcoin but may be used for other cryptocurrencies, online signature services, voting systems and many other applications. In this video we explain how it works and what makes it special. Scene 2 Everyone uses paper money. When you get a 10 dollar bill you trust that it's not fake. If instead someone sent you an email saying "here's 10 dollars" you probably wouldn’t trust it. But when we "transfer money", use an ATM or pay with a deposit card that's pretty much exactly what we do. We're sending money in a digital message. Scene 3 To make sure no one's cheating or sending money they don't have, these “messages” go through a few trusted banks that keep a record of everything. They know how much money everyone has and deduct it properly for every transaction. Scene 4 But this becomes expensive when there’s a million transactions around the world every minute. The Economist estimates that banks charged us more than 1.7 trillion dollars to process these payments in 2014. That’s about 2% of the entire world economy! With blockchain we can save a lot of this cost because it lets us send money just like sending an email. Scene 5 Instead of sending a lot of payment information through a few servers, blockchain uses thousands of personal computers on the internet. All transactions are copied and cross checked between every computer in a system wide accounting book called the ledger, which becomes very safe at scale. Scene 6 Blockchain doesn’t just allow us to create safe money online, it lets us protect any piece of digital information. This could be online Identity cards, voter ballots, contracts and many other “legal instruments”, bringing bureaucracy into the 21st century.
https://wn.com/Blockchain_A_Short_Introduction
Borderless Blockchain Election System

Borderless Blockchain Election System

  • Order:
  • Duration: 1:00
  • Updated: 31 Oct 2016
  • views: 459
videos
Imagine if elections were completely transparent and auditable by every citizen. http://polls.borderless.tech
https://wn.com/Borderless_Blockchain_Election_System
IBM Blockchain Car Lease Demo

IBM Blockchain Car Lease Demo

  • Order:
  • Duration: 3:01
  • Updated: 01 Mar 2016
  • views: 38150
videos
The video shows a sample supply chain process between multiple parties. For more information, please visit http://www.ibm.com/blockchain/for_developers.html
https://wn.com/Ibm_Blockchain_Car_Lease_Demo
What is Blockchain? | CNBC Explains

What is Blockchain? | CNBC Explains

  • Order:
  • Duration: 4:53
  • Updated: 31 Mar 2017
  • views: 22208
videos
Blockchain is a global online database that anyone with an internet connection can use, but it doesn't belong to anyone. CNBC's Tom Chitty explains. ----- Subscribe to CNBC International: http://bit.ly/1eiWsDq Like our Facebook page https://www.facebook.com/cnbcinternational Follow us on Instagram @cnbcinternational Follow us on Twitter https://twitter.com/CNBCi Subscribe to our WeChat broadcast CNBC_international
https://wn.com/What_Is_Blockchain_|_Cnbc_Explains
Blockchain Technology Explained: What is a Blockchain?

Blockchain Technology Explained: What is a Blockchain?

  • Order:
  • Duration: 4:01
  • Updated: 12 Mar 2017
  • views: 2498
videos
This video https://youtu.be/eXJHPDs4M3Y provides an easy to understand introduction to Blockchain Technology. Please leave comments and questions below the video. Here is the full transcript for your convenience: What is a Blockchain? A Blockchain is a distributed database that multiple parties share and everyone can trust. A Blockchain network provides a mutually trusted, transparent way of sharing and transacting. Each party participating in a Blockchain network maintains their own copy of the database. What makes Blockchain secure? Transactions on the database are atomic (this means that they're processed one at a time). The next transaction will be a different write or a read, but only after the preceding transaction has completed (or failed). Each write to the database is considered a ‘block’. Each new block contains a cryptographic hash (a unique fingerprint) of the previous block, creating a chain that can always be validated by checking the hashes back to the original root block. Before a block can be committed, all participants are required to validate the transaction and provide consensus that the block can be added to the chain. This effectively makes it impossible to add a record unless all parties participating in the blockchain agree the record is valid. Because all records are chained together by their hash value, once committed to the chain, all records are immutable (they cannot be changed). It is impossible to alter a previous record without altering every party’s copy of the chain. If one node is compromised, then it can no longer participate in the chain until it regenerates the true chain from the other participants. How does Blockchain prevent double spending? A major challenge of digitising assets is the potential to spend/redeem/use an asset multiple times. Because digital assets are much easier to forge than many traditional assets (such as currency, tickets, physical coupons, etc.), a secure system is required to ensure that an asset is only used once. With Blockchain, every time an asset is used or consumed, the owner of the asset signs the transfer with a private cryptographic key. This key is unique to the owner and is extremely difficult to forge. In order to initiate the transaction, the transferrer requires both the asset and their private key. The Blockchain will check both the validity of the key, and ownership of the asset. Therefore, even if the asset is cloned, it cannot be used without the private key. Once the transaction has been committed to the chain, the owner of the asset will have changed. This means, each node that receives a second transaction requesting transfer of ownership (or redemption, etc.) will see that there was a previous transaction that already transferred the asset and will reject that transaction. This prevents a second transfer block from being added to the chain. How does Blockchain ensure privacy? Personal data and identifiers are not required to be stored in the chain. Such data is stored as a hash value which provides both anonymity and security. The user may provide data such as their name, telephone number, email address, Facebook account id, unique user name, password etc. (in reality a combination of these values is used) to determine their identity. This data is hashed to provide a unique token that can only be recreated by providing the original values, and only this hash is stored to identify the party in the chain. Since it is impossible to obtain the input values by reverse engineering a hash value, the user is practically anonymous to all parties within the chain. But, they can be validated whenever required by providing the original values used to create the hash. How is PassKit utilising Blockchain? PassKit provides a private blockchain service to parties that wish to issue, record or redeem anything of value. This can be anything from loyalty points, punch card programmes, event tickets, boarding passes, to government identification, insurance policies or claim histories, tax records and educational transcripts. We utilise existing mobile wallet technology as a gateway for transacting, validating or querying our secure, private Blockchain networks. We ensure that mobile wallet content can be validated and trusted in a frictionless, realtime manner, by both consumers and by the businesses and institutions with whom they transact.
https://wn.com/Blockchain_Technology_Explained_What_Is_A_Blockchain
Verifiable Blockchain Voting Software Demo (Full Length) | Follow My Vote

Verifiable Blockchain Voting Software Demo (Full Length) | Follow My Vote

  • Order:
  • Duration: 6:53
  • Updated: 26 Mar 2016
  • views: 2786
videos
This is a user experience demo of our open-source end-to-end verifiable blockchain voting software. Visit our website for more information and to contact us: https://followmyvote.com/ Note: The completed software release is not guaranteed to have the exact same look and feel.
https://wn.com/Verifiable_Blockchain_Voting_Software_Demo_(Full_Length)_|_Follow_My_Vote
A Simple Introduction to The Block Chain

A Simple Introduction to The Block Chain

  • Order:
  • Duration: 6:58
  • Updated: 28 Aug 2016
  • views: 1468
videos
One of the most important technologies in the world at the moment is the distributed ledger system known as the block chain. Graeme Codrington of TomorrowToday Global explains what it is in simple terms. Block chain will change the way we record transactions, conclude contracts and transfer money - it will affect everything. You need to understand it.
https://wn.com/A_Simple_Introduction_To_The_Block_Chain
Bitcoin and blockchain Hacker Working 2017 !!!!

Bitcoin and blockchain Hacker Working 2017 !!!!

  • Order:
  • Duration: 2:01
  • Updated: 26 Jan 2017
  • views: 26045
videos
~~~~`~~~~Updated~~~~~~~~~~~ Download Link: https://goo.gl/8CkxqY btc hacker bitcoin mining hack 2016 bitcoin generator hack tool 2016, bitcoin hack tool, Bitcoin hack working 2016 2017. Free bitcoin hack 2016. Earn bitcoin hack 2016. This bitcoin hack tool is working 100%, earn bitcoins with the Bitcoin hack tool tested on 2017. what is bitcoin ? Bitcoin is a cryptocurrency and a payment system[14]:3 invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto.[15] Bitcoin was introduced on 31 October 2008 to a cryptography mailing list,[16] and released as open-source software in 2009.[17] There have been various claims and speculation concerning the identity of Nakamoto, none of which are confirmed.[15] The system is peer-to-peer and transactions take place between users directly, without an intermediary.[14]:4 These transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain,[18] which uses bitcoin as its unit of account. Since the system works without a central repository or single administrator, the U.S. Treasury categorizes bitcoin as a decentralized virtual currency.[11] Bitcoin is often called the first cryptocurrency,[19][20][21] although prior systems existed[note 4] and it is more correctly described as the first decentralized digital currency.[14][25] Bitcoin is the largest of its kind in terms of total market value.[26] Bitcoins are created as a reward in a competition in which users offer their computing power to verify and record bitcoin transactions into the blockchain. This activity is referred to as mining and successful miners are rewarded with transaction fees and newly created bitcoins.[14]:5–7 Besides being obtained by mining, bitcoins can be exchanged for other currencies,[27] products, and services.[28] When sending bitcoins, users can pay an optional transaction fee to the miners.[29] This may expedite the transaction being confirmed. In February 2015, the number of merchants accepting bitcoin for products and services passed 100,000.[30] Instead of 2–3% typically imposed by credit card processors, merchants accepting bitcoins often pay fees in the range from 0% to less than 2%.[31] Despite the fourfold increase in the number of merchants accepting bitcoin in 2014, the cryptocurrency did not have much momentum in retail transactions.[32] The European Banking Authority[33] and other sources[14]:11 have warned that bitcoin users are not protected by refund rights or chargebacks. The use of bitcoin by criminals has attracted the attention of financial regulators,[34] legislative bodies,[35] law enforcement,[36] and media.[37] Criminal activities are primarily focused on darknet markets and theft, though officials in countries such as the United States also recognize that bitcoin can provide legitimate financial services.[35]
https://wn.com/Bitcoin_And_Blockchain_Hacker_Working_2017
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