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How bitcoin works


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Bitcoin is a decentralized digital currency which runs over a shared digital ledger called blockchain. Blockchain is the series of individual blocks that are cryptographically chained to create a tamper-proof record of information in a digital format. Blockchain maintains a permanent and tamper-proof record of all the transactions pertaining to the Bitcoin. Every Bitcoin user retains a copy of the ledger which shows the recently made transactions without revealing the identity of the users. That’s why it ensures a high level of transparency while maintaining some level of anonymity at the same time.

Perhaps, the best part about Bitcoin is that it is open-source which means anyone can create a new cryptocurrency using the original Bitcoin Source code provided by Satoshi Nakamoto. The open-source nature of Bitcoin has paved new ways Cryptocurrency App Development.
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