Bitcoin

In general, there is no difference between a simple paper and a note. But the value of a note can range from 2 rupees to 3 rupees - because there is a government behind it, a bank, and no authority. They sit down and decide how much a note will cost. And we trust them and make this little piece of paper worth it. But in Bitcoin, this case is completely different. Because the value of Bitcoin is neither determined by a government, nor by any bank. There is no specific authority to regulate bitcoin. The coin was first introduced in 25, and it has been operating from then until today, which is very popular online.

Currently, Bitcoin is equal to 9,487.26 dollars. A few years ago, the price went up to $ 20000. But since there is no authority, no government and no bank to determine its value, its value fluctuates (if the price of Bitcoin is now stable). Because you and I trust this currency, we can exchange it with each other. The benefit is that if I want to send you some Bitcoin, I can send it to you directly. It's not like I have to go to a bank or send you through an authority. It is never possible to freeze your account and you can send this currency to anyone whenever you want. As much as you can get the benefits, usually no bank or ordinary currency will be able to give you the benefits. There are many rules in bank transactions that you must follow, but there are no rules for Bitcoin.

Earn Bitcoin

Bitcoin can be made and consumed in several ways. The easiest way to earn this is to buy some Bitcoin directly. Now suppose 1 Bitcoin is worth 9,487.26 dollars, you can buy this currency directly for 9,487.26 dollars and it will be deposited electronically in your account online. You can also sell a service or item to make this coin. Now suppose I have a phone, worth $ 9,487.26. So I can sell this phone online for the price of 1 Bitcoin, so this currency will come to me.

In addition, you can mine Bitcoin if you want, and this is the medium through which new Bitcoins come to market. See Friends General Notes are usually governed by a government or authority. They control the price and the exchange of all kinds. If a note is ever needed, they can print the note as they wish and thus the new note comes into the market. But Bitcoin is not printed, and there is no one to control it, but it has a value that only a certain number of Bitcoins can have in the market. Because the currency will rise so long that its value will decrease, so this system is designed to control it. But there will come a time when no new bitcoin will be in the market.

Now the question is how can this currency be exchanged? See, the biggest problems are the ones that happen here. And to explain this is a little tricky. Let's try to simplify the matter.

 Manekrun You went to a park for a morning walk. So there you go, an apple wallet is for sale and you want to buy an apple. Now you give them money and buy an apple in exchange. Now you have to worry about whether the apple comes in your hand. Because you can physically see the apple and touch it by hand. So you don't need any other person to check it out. This applet will be completely yours and you can give it to anyone you want. You can give this apple to your friend, your friend can give it to someone else, and so on.

But friends now think about a digital apple - not in your pocket, but on your computer or any computing device. How do you know that this apple is yours? How to make sure it didn't send to your friend? Hasn't the fun started? Since it is in digital format it is possible to make thousands of copies. It's possible to send someone an mail. Once placed on the Internet, it can be downloaded a million times.

So, you know, exchanging physical apples and digital apples are not one thing. Computer scientists have the same problem when exchanging Bitcoin, and the problem is called a "double-spending problem".

Now if you want to send a note or some money to a Kao, that note is a physical currency, which once you give it to know, you will no longer have. Or if you want to send money to a bank through the bank, you will have to pay some fees and sign some papers. This will cut money from your account and add money to another's account, and then the money will be physically accessible to that person through a prop channel. Here you must verify if you have money in your account and you can pay a note only once or with a cost.

But when it comes to sending Bitcoin, things are a little different. If I wanted to send you some money, I might have shipped it from my device to your account. But who can verify this transaction? That means I sent you some coins, and what guarantee is there that I have not yet deposited it?

To fix all of this mess, a mathematical problem is added to each bitcoin segment, and a mathematical number is attached to each coin to track it. Thus it is understood that when the coins of a number came from whom. Now that the fiery coins are exchanged every day all over the world, who makes these transactions successful?

 
Those who solve these huge mathematical problems of Bitcoin make these transactions successful, they are called Bitcoin miners. They have very powerful computers. There are many Powerful GPUs installed on these computers, and if they solve the mathematical problem first and then make the transaction, then you and I will get the transaction and Miners Rao will be able to earn some Bitcoin as a reward for doing so.