Bitcoin

Bitcoin is a digital currency that was introduced in 2009. There is no physical version of the currency, so all Bitcoin transactions take place over the Internet. Unlike traditional currencies, Bitcoin is decentralized, meaning it is not controlled by a single bank or government. Instead, Bitcoin uses a peer-to-peer (P2P) payment network made up of users with Bitcoin accounts.
Bitcoins can be acquired using two different methods:
                     
1:  exchanging other currencies for bitcoins :

It is most common and can be done using a Bitcoin exchange like Mt. Gox or CampBX. These exchanges allow users to trade dollars, euros, or other currencies for bitcoins.

2:  bitcoin mining :

bitcoin mining, involves setting up a computer system to solve math problems generated by the Bitcoin network. As a bitcoin miner solves these complex problems, bitcoins are credited to the miner. While this seems like an easy way to earn bitcoins, the Bitcoin network is designed to generate increasingly more difficult math problems, which ensures new bitcoins will be generated at a consistent rate. Additionally, the Bitcoin protocol and software are open source to make sure the network isn't controlled by a single person or entity.
 

When you obtain bitcoins, your balance is stored in a secure “wallet” that is encrypted using password protection. When you perform a bitcoin transaction, the ownership of the bitcoins is updated in the network and the balance in your wallet is updated accordingly. Bitcoin transactions are verified by the bitcoin mining systems connected to the network, so there is no need for a central bank to authorize transactions.
Since bitcoins are transferred directly from person to person, the transaction fees are small (around $0.01 per transaction). Additionally, there are no prerequisites for creating a Bitcoin account and no transaction limits. Bitcoins can be used around the world, but the currency is only good for purchasing items from vendors that accept Bitcoin.

Comments

Post a Comment

Popular posts from this blog

Export data from mysql db to csv file using java

Image
Hi friends ! Today I am discussing about simple but very important scenario. When we create any application then during creation of application we have face many scenarios like 1.Taking information from user and storing these information inside database : Generally such type of Operation is performed by user using form application 2.Taking Data from Database and Displaying on Page : We can perform such type of Operation in various ways like using JSP,JSTL tags or you can perform such operations using JQUERY also. 3.Taking Data from Database and download it in Excel or CSV format : In this we want our data from database and store it inside Excel or text files for further use. And we have chosen third scenario from discussion for performing this Operation we have to need three files exportCsv.html  :- this contains a button for clicking and performing exporting data from database Operation ExportData.java  :- It is a servlet class which defines connectivity from databas
Keep reading

Secure Database Connectivity in node.js with mysql

Image
Hi Everyone! Yesterday my friend Andrea from Italy asked me a question about secure Database connectivity in node.js with mysql i.e. he wants to a secure database connection in node.js for some secure keys like username,password,database name that we use during database connectivity.His problem is obviously right from security point of view as we know that JavaScript is client side scripting knowledge so it is compiled on client side so after inspecting page some one can be able to view these secure keys which I discussed previously. I surf internet and found there are various ways to solve this problem I am not discussing all of them here but also I discussing here two of them and after this discussion I think Andrea and other reader who are facing with same problem can be able to resolve their problem. I choose two ways to solve this problem. Connection code in app.js file Create a Json file Connection code in app.js file : Javascript is client side language and code i
Keep reading

Java Web Scraping

Image
Today I introduced you from a new word i.e. Web scraping this word is used for extracting data from a website for some purpose. In this technique we extract large amount data from website and store inside our local file or we can also store these data inside our database for personal use .Now this technique is widely used all around the world because in the age of Information data is every thing.As much amount of you have as much power you have.Most of programming languages contains package for Web Scraping such in python we used BeautifulSoup.  BeautifulSoup is a fantastic tool of python for web Scraping. I don't know much about python and I am good in java so, here I am discussing here  how we can scarp data from website using concepts of Java? Now, we are presenting a little package for Java web Scarping. Jsoup is an open source Java HTML parser. Jsoup is an open source HTML parser which is used for scraping in Java.It uses DOM,CSS and Jquery-like methods for extra
Keep reading