Difference between revisions of "Bitcoin Wallets"
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The need to get rid of centralized financial systems and bureaucracy and reduce fraud and forgery in commercial transactions and others was the reason behind the appearance of the basic idea of Blockchain technology. Blockchain has been around since the 1990s. In 1991, Blockchain was originally described by a group of researchers. The application of this technology was originally intended to timestamp digital documents so that it is not possible to backdate them or to tamper with them, like a digital notary <ref name=”RE1”>P. Ratanasopitkul, "Blockchain – Revolutionize Green Energy Management," 2018 International Conference and Utility Exhibition on Green Energy for Sustainable Development (ICUE), 2018, pp. 1-6, doi: 10.23919/ICUE-GESD.2018.8635666.</ref>. In 2008 a study was published under the title Bitcoin: A Peer-to-Peer Electronic Cash System, under the pseudonym Satoshi Nakamoto, in which Blockchain‘s technology was applied to electronic currency, and then in 2009 the Bitcoin cryptocurrency blockchain network was created <ref>Nakamoto, S., “Bitcoin: A Peer-to-Peer Electronic Cash System,” 2008. https://bitcoin.org/bitcoin.pdf </ref>. | The need to get rid of centralized financial systems and bureaucracy and reduce fraud and forgery in commercial transactions and others was the reason behind the appearance of the basic idea of Blockchain technology. Blockchain has been around since the 1990s. In 1991, Blockchain was originally described by a group of researchers. The application of this technology was originally intended to timestamp digital documents so that it is not possible to backdate them or to tamper with them, like a digital notary <ref name=”RE1”>P. Ratanasopitkul, "Blockchain – Revolutionize Green Energy Management," 2018 International Conference and Utility Exhibition on Green Energy for Sustainable Development (ICUE), 2018, pp. 1-6, doi: 10.23919/ICUE-GESD.2018.8635666.</ref>. In 2008 a study was published under the title Bitcoin: A Peer-to-Peer Electronic Cash System, under the pseudonym Satoshi Nakamoto, in which Blockchain‘s technology was applied to electronic currency, and then in 2009 the Bitcoin cryptocurrency blockchain network was created <ref>Nakamoto, S., “Bitcoin: A Peer-to-Peer Electronic Cash System,” 2008. https://bitcoin.org/bitcoin.pdf </ref>. | ||
Bitcoin supersedes fiat currency in multiple dimensions because it can be transferred internationally without any limits, transactions have either no fees or a very low fee, currently, it does not need any personal information, is transparent as every user has a copy of the public ledger, and secure as the underlying cryptographic algorithm provides security <ref name=”RE2”>P. K. Kaushal, A. Bagga and R. Sobti, "Evolution of bitcoin and security risk in bitcoin wallets," 2017 International Conference on Computer, Communications and Electronics (Comptelix), 2017, pp. 172-177, doi: 10.1109/COMPTELIX.2017.8003959. </ref>. | Bitcoin supersedes fiat currency in multiple dimensions because it can be transferred internationally without any limits, transactions have either no fees or a very low fee, currently, it does not need any personal information, is transparent as every user has a copy of the public ledger, and secure as the underlying cryptographic algorithm provides security <ref name=”RE2”>P. K. Kaushal, A. Bagga and R. Sobti, "Evolution of bitcoin and security risk in bitcoin wallets," 2017 International Conference on Computer, Communications and Electronics (Comptelix), 2017, pp. 172-177, doi: 10.1109/COMPTELIX.2017.8003959. </ref>. | ||
==Blockchain and Bitcoin== | |||
===Blockchain=== | |||
Blockchain is a data structure that makes it possible to create a digital ledger of transactions and share it among a distributed network of computers, continuously updated simultaneously and secure with encryption. Anyone can access and get the same information.<ref name=”RE1”/> | |||
== References == | |||
<references /> | |||
Revision as of 10:59, 21 December 2021
Introduction
The need to get rid of centralized financial systems and bureaucracy and reduce fraud and forgery in commercial transactions and others was the reason behind the appearance of the basic idea of Blockchain technology. Blockchain has been around since the 1990s. In 1991, Blockchain was originally described by a group of researchers. The application of this technology was originally intended to timestamp digital documents so that it is not possible to backdate them or to tamper with them, like a digital notary [1]. In 2008 a study was published under the title Bitcoin: A Peer-to-Peer Electronic Cash System, under the pseudonym Satoshi Nakamoto, in which Blockchain‘s technology was applied to electronic currency, and then in 2009 the Bitcoin cryptocurrency blockchain network was created [2]. Bitcoin supersedes fiat currency in multiple dimensions because it can be transferred internationally without any limits, transactions have either no fees or a very low fee, currently, it does not need any personal information, is transparent as every user has a copy of the public ledger, and secure as the underlying cryptographic algorithm provides security [3].
Blockchain and Bitcoin
Blockchain
Blockchain is a data structure that makes it possible to create a digital ledger of transactions and share it among a distributed network of computers, continuously updated simultaneously and secure with encryption. Anyone can access and get the same information.[1]
References
- ↑ 1.0 1.1 P. Ratanasopitkul, "Blockchain – Revolutionize Green Energy Management," 2018 International Conference and Utility Exhibition on Green Energy for Sustainable Development (ICUE), 2018, pp. 1-6, doi: 10.23919/ICUE-GESD.2018.8635666.
- ↑ Nakamoto, S., “Bitcoin: A Peer-to-Peer Electronic Cash System,” 2008. https://bitcoin.org/bitcoin.pdf
- ↑ P. K. Kaushal, A. Bagga and R. Sobti, "Evolution of bitcoin and security risk in bitcoin wallets," 2017 International Conference on Computer, Communications and Electronics (Comptelix), 2017, pp. 172-177, doi: 10.1109/COMPTELIX.2017.8003959.