Bitcoin: New discovery, and is It Right for Your business?

OK, so what's Bitcoin?

It's not an actual coin, it's “cryptocurrency, inch be sure you form of payment that is produced (“mined”) by lots of people worldwide. It allows peer-to-peer transactions instantly, worldwide, for free or at very low cost.robot bitcoin

Bitcoin was invented after decades of research into cryptography by software developer, Satoshi Nakamoto (believed to be a pseudonym), who designed the criteria and introduced it just last year. His true identity remains a mystery.

This currency is not backed by a tangible share (such as gold or silver); bitcoins are traded in online which makes them a share in themselves.

Bitcoin is an open-source product, accessible by anyone who is a user. All you need is an email address, Internet access, and money to get started.

Where does it come from?

Bitcoin is mined on a distributed computer network of users running specialized software; the network handles certain exact proofs, and searches for a particular data sequence (“block”) that produces a particular pattern when the BTC criteria is applied to it. A match produces a bitcoin. It's complex and time- and energy-consuming.