What is Bitcoin and How Does Bitcoin Work?

What is Bitcoin and How Does Bitcoin Work

The SII group and school of advanced digital technologies (ETNA) have developed a programme broadcast on the Internet named Blockchain Révolution. She explains in detail the phenomenon of the blockchain and of the bitcoin, this cryptographic currency which made many talk about her. Here, exclusively for Futura, a whole episode devoted to the practical aspects of the bitcoin.

The bitcoin, addition of the words English bit (contraction of binary digit, binary unit) and corner(coin), is born in 2008, cryptographic currency whose quantity is limited to 21 million units. It allows you to buy goods and services and can also be exchanged for other currencies. Bitcoin is administered by a secure public register called blockchain, or block chain, which offers atraceability and a transparency transactions. It is independent of monetary regulators such as the European Central Bank (ECB) and the Federal Reserve of the United States (FED).

This freedom translates volatility of the course. End of 2013, bitcoin had passed the milestone of 1,000 dollars before losing nearly 80 percent of its value during the following months. New runaway early 2017 with a bitcoin to 1,160 dollars, which then lost 20% of its value in a few tens of minutes. Currently, the course is around the 865 euros.

The market capitalization of the bitcoin exceeds $ 10 billion

In this episode of the series Blockchain Révolution developed by the SII and the school of technology group Digital Advanced (ETNA), Vidal Chriqui, innovation for the SII Group Manager, addresses the more concrete aspects of the bitcoin: how to store this currency, the types of portfolios, market places, the processors payment, transaction costs and the level of anonymity possible in a transaction with this does. A very comprehensive document that will inform both professionals and students and the curious.

The Blockchain Révolution series consists of seven episodes:

Understand the blockchain phenomenon.
The Protocol validation of the bitcoin, or "proof of work";
Bitcoin in practice;
Bitcoin governance;
Bitcoin as platform;
THE Cambrian explosion the blockchains;
The blockchain revolution and an interview with Andreas Antonopoulos.

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