What are bitcoins
Bitcoin is a digital currency that is free from any central control or oversight by banks or governments. Instead it relies on peer-to-peer software and cryptography. A public ledger records all Bitcoin transactions. And copies are kept on servers around the world.
What is software and cryptography?
The process of making a message (or data) unusable to everyone so that only the recipient can understand it is called encryption. The process (or science) of creating useful procedures for encrypting and decrypting messages is called cryptography (Bitcoin).
what is cryptography.
Cryptography is a Greek word which means secret writing. It is a technique of providing confidentiality to the message. It is the art and science of transforming messages to secure and protect them from attacks. Cryptography includes the processes of encryption and decryption.
What is Peer to peer
Bitcoin works on a peer to peer network basis which means that people can easily transact with each other directly without going through any bank, credit card or any company. Bitcoin is considered to be the fastest and most efficient to use in transactions.
What is a public ledger?
The Bitcoin public ledger is used as a record-keeping system that securely and (pseudo-)anonymously stores the identities of participants, their respective cryptocurrency balances, and a record book of all actual transactions executed between network participants.