Tagbitcoin

A Beginner’s Guide to Bitcoin Mining : Learn Blockchain

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The temptation to earn Bitcoins is understandable as Bitcoin is valued as world’s most expensive currency at current rates. But who mints Bitcoins? How are they distributed? and most importantly how can you earn them? these are the questions we will answer in this beginner’s guide to bitcoin mining. But let me give you a little headache first, remember this quote “Bitcoins cannot be...

Proof of Work Explained Simply : Learn Blockchain

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Proof of Work (PoW) is a consensus algorithm used in the original Bitcoin implementation. In a Blockchain system new transactions are periodically added by packaging these transactions in a block. This block is then added to the Blockchain. Please read What is Blockchain Technology if you don’t already know. Background Users send each other digital tokens (e.g. Bitcoins). All such...

What is Blockchain Technology?

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What is blockchain technology? is perhaps the most buzzing question in tech right now. A blockchain as the name suggests is a chain of blocks. Each block contains some information; a blockhain can store complete information about a financial transaction, a contract or a medical record. Important property of blockchain is that the data stored in it cannot be modified, backdated or tempered by any...

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