Presentation On Bit-Coins

Contents:- What is bit coin? How to get Bit Coin Bit Coin Mining Bit Coin pool Mining Bit Coin Transactions

About Bit-Coins Digital currency- created and held electronically. Not controlled by anyone. Not printed like Rupees or dollar Used for buying goods. Produced by people. Location Independent

To buy it by exchanging rupee or dollar or yen How to get Bit-Coin? To solve mathematical problem on specialized hardware by running bitcoin software on it. To buy it by exchanging rupee or dollar or yen

Step 1:Choosing Hardware

Step 2:Running Software on hardware General Ledger - store all transactions. Connect your computer with Bit Coin Network and load list of blocks. Allow you to join pool of miners. Miner solves Mathematical problem presented by software.

Step 3:Set up a bit coin wallet Like bank account. Have a unique address. Have a public key and private key used for encryption and decryption during transaction. Use to store individual bitcoins.

Bit Coin Pool Mining Problems are hard. Miners work cooperatively. Share the bounty.

Bit Coin Transactions Every transaction stored in public ledger. Every miner have information about all transactions. Transaction takes place through encryption and decryption with help of public and private key.

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