The name also refers to the open source program that he designed to use the currency, and peer-to-peer (peer-to-peer) it forms. Unlike most currencies, bitcoin needs no central issuer. Bitcoin uses distributed database spread across network nodes point-to-point to record transactions and uses encryption to basic security functions, as sure bitcoins can only be worn by the owner, and avoid double spending.
The Bitcoin project allows anonymous transfers and property values. Bitcoins can be saved in computers in the form of a file wallet (wallet), or in the portfolio of services provided by third parties; and in both cases, bitcoins can be sent over the Internet to anyone who has an address of Bitcoin.
The topology point-to-point of the Bitcoin network and the absence of a central management entity becomes impossible that any authority, governmental or not, handle the bitcoins value or induce inflation "by printing more notes."
Bitcoin is one of the first implementations of the concept called cryptocurrency, first described in 1998 by Wei Dai.
Read more: Bitcoin Wikipedia (Portuguese)
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