Cryptocurrencies & Blockchain

1. What is a blockchain system?

The blockchain system represents a type of a distributed database where each of your transactions is written and can never be erased. The way blockchain works is that once the platform has found a match between the sell and buy order the transaction is done in the blockchain system. It simply provides you security and transparency for all your transactions.

2. What is a blockchain history?

The blockchain history provides you with information for all your transactions, including date, amount, Txld, and the confirmations.

3. What is a Bitcoin?

Bitcoin is a worldwide cryptocurrency and digital payment system[13]:3 invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009.

The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency.

Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets.


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