Thursday, March 13, 2014

An education in Bitcoin

Bitcoin is the world's most innovative digital currency. It utilises a peer to peer payment system using digital currency which enables you to transfer currency privately and securely. Bitcoin utilizes cryptography to control the creation and transfers of money; you send payments by broadcasting digitally signed messages to the Bitcoin network. These transactions are then verified and recorded into a shared public database called the block chain. Subsequently customers are rewarded with transaction fees and newly minted bitcoins.

The worldwide success of bitcoin has spawned a variety of educational resources which teach you the basics and benefits of bitcoin. Here are but a few of these online resources:

·      CoinDesk is a London-based resource and news operation which provides coverage for Bitcoin and digital currencies in general. It is a valuable resource for any readers who are not technically adept but express an interest in broadening their knowledge of the ever-expanding Bitcoin ecosystem. 

·      The Genesis Block – This site offers a slightly more technical yet immensely educational resource on Bitcoin. The Genesis Block are a self proclaimed news and tutorial site which cover the fundamental aspects of bitcoin, including mining, trading, economics, and businesses, as well as regularly generating new relevant content on bitcoin updates and trends.