michaeljburgess.eth
@beitmenotyou
๐ What is Bitcoin? Welcome to the decentralized revolution! Bitcoin is the first cryptocurrency, a form of digital money that operates without central control, using peer-to-peer technology. Letโs dive into what makes Bitcoin a ground-breaking technology. #Bitcoin #Crypto
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michaeljburgess.eth
@beitmenotyou
1/13 ๐ How Bitcoin Works Transactions in Bitcoin are recorded on a blockchain, a public ledger maintained by a network of computers. Itโs secure and transparent, and anyone can verify transactions. #Blockchain #Fintec3
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michaeljburgess.eth
@beitmenotyou
2/13 ๐ Securing Transactions Each Bitcoin transaction is secured using cryptography, ensuring that only the owner can spend their bitcoins. This is achieved through private keys and public addresses. #Cryptography #BitcoinSecurity
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michaeljburgess.eth
@beitmenotyou
3/13 โ๏ธ Mining: Powering the Network Bitcoin introduces the concept of mining, a process where transactions are verified and added to the blockchain. Miners are rewarded with new bitcoins, incentivizing them to maintain network security. #BitcoinMining
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