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How does Bitcoin work?

How does Bitcoin work?

    The operation of the Bitcoin Network In the introduction to what Bitcoin is, I told you about the advantages, how to buy bitcoins I told you where and how to buy them, now I will explain the internal operation of this one.

    To give a very simple and easy to understand example. Imagine Bitcoin as a large fish tank where, from the outside, you can move the one inside if you have the necessary keys to move them, but nobody will ever be able to enter or take anything out of the fish tank, so the total amount of bitcoins in this fish tank will be unalterable , but if the possession of the bitcoins. Unlike the Dollar and the Euro, which have an unlimited issue.

    The Bitcoin Network is based on a "peer to peer" system or user to user that has allowed to break with a problem in all the previous means of payment, the need for a third party. Before the invention of Bitcoin, when I wanted to make an online payment, they had to resort to platforms such as Paypal, Neteller, Banks, etc. to make the payments.

    With Bitcoin this changes as there is no organization behind this free currency, it is the network generated by the users (thousands of computers around the world) who make sure to monitor, control and record transactions.

    Thanks to a complex cryptographic system it is possible to make sure that nobody cheats and that the currency is safe against attacks, attempts of falsification or duplication. Hence also the Latin motto that some users of the coin coined in their earliest days: "Vires in Numbers", that is, "The force is in the numbers".

    It may seem strange at first since we are not used to this type of concepts, but in practice the different applications of this virtual currency simplify the process in such a way that sending and receiving bitcoins is as easy as sending and receiving an email. In this way, not only is the Bitcoin system converted, it is not only safe but also simple and convenient.

    Did you know that the Bitcoin protocol is completely open and transparent? Anyone can review it and make sure everything is going well. In fact, only in this way has the currency gained the trust of so many people around the world who use it for their businesses, make purchases or send money to their families.

    The operation of the Bitcoin network for informatics.

    The explanation of the exact operation and the technical details are beyond the purpose of this simple guide you can find in this bitcoin forum. However, they are freely available on the internet and can be consulted by anyone who is curious and wants to learn more about the Bitcoin network and the verification and security mechanisms.

    A good starting point is the following Wiki article in Spanish, which also explains how the Bitcoin system prevents "double spending". If you have advanced computer skills, you may also be interested in reading about the technology behind this currency, the Blockchain. However, if this is the first time you hear about the cryptocurrency, we recommend that you first finish reading this guide and be able to better understand the large amount of documentation that is available on the Wiki in Spanish or English.