Studied subject in Electronic and Communication, Worked engineering field since out college. Interested in Green Ecosystem, Renewable and Sustainable. Thanks.
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Above all is not financial advice and use your knowledge to discover wisdom...
BNB fuels the BNB Chain ecosystem, serving as a premier utility token. It's tradable like any cryptocurrency and used by diverse applications across various sectors.
$BNB
It is not financial advice. Do your own research.
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Cryptocurrencies, such as bitcoin, enable anyone to transfer money globally. Ethereum does too, but it can also run code that enables people to create apps and organizations. Itâs both resilient and flexible: any computer program can run on Ethereum.
Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.
Binance Square is a social networking content platform, where every user can share their thoughts, discover the latest news and trends, and participate in community discussions about anything and everything related to crypto and Web3.
What Is Bitcoin and How It Work? Bitcoin is the first cryptocurrency. It was created in 2008 and launched in 2009 by pseudonymous Satoshi Nakamoto. Bitcoin runs on blockchain technology, which works like a public ledger. All Bitcoin transactions are verified by a network of nodes spread around the world. Bitcoin is decentralized, transparent, and open source, making it a popular alternative to traditional financial systems.
What Is Bitcoin? Bitcoin is essentially digital money. It is the first cryptocurrency ever created, announced in 2008 (and launched in 2009). Bitcoin allows users to send and receive digital money called bitcoins (with a lowercase b, or BTC for short). Unlike traditional fiat currencies issued by governments (like dollars or euros), Bitcoin is decentralized, meaning no single institution, government, or entity controls it. Transactions are conducted peer-to-peer, removing the need for banks or financial institutions to act as intermediaries.
What makes Bitcoin highly appealing is its inherent resistance to censorship, the impossibility of double-spending funds, and the ability to conduct transactions anytime and anywhere.
How Bitcoin Works? Bitcoin operates on blockchain technology, a public ledger that records all transactions. This means every Bitcoin transaction is transparent, verifiable, and secure.
Imagine blockchain as a chain of blocks, where each block holds information about transactions. Every time someone uses Bitcoin, their transaction is added to the blockchain, and this record is stored across a global network of computers (called nodes).
This distributed network ensures that no single party can manipulate the data. Anyone can participate in the ecosystem by downloading Bitcoinâs open-source software. Decentralization: Bitcoinâs blockchain is maintained by a distributed network of computers, ensuring no central authority controls the ledger.
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We define an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. A payee can verify the signatures to verify the chain of ownership.
The problem of course is the payee can't verify that one of the owners did not double-spend the coin. A common solution is to introduce a trusted central authority, or mint, that checks every transaction for double spending. After each transaction, the coin must be returned to the mint to issue a new coin, and only coins issued directly from the mint are trusted not to be double-spent. The problem with this solution is that the fate of the entire money system depends on the company running the mint, with every transaction having to go through them, just like a bank. We need a way for the payee to know that the previous owners did not sign any earlier transactions. For our purposes, the earliest transaction is the one that counts, so we don't care about later attempts to double-spend. The only way to confirm the absence of a transaction is to be aware of all transactions. In the mint based model, the mint was aware of all transactions and decided which arrived first. To accomplish this without a trusted party, transactions must be publicly announced [1], and we need a system for participants to agree on a single history of the order in which they were received. The payee needs proof that at the time of each transaction, the majority of nodes agreed it was the first received.
Do your own research. Thanks for reading. Love you all. What is my prayer is to get everyone in earth shall experience good life.
Do your own research before take any financial decision. You are going to experience profit or loss for your action.Binance Ecosystem evolve since BNB created June 2017 and launched July 2017 by ICO. Initially issued ERC-20 Token.BNB Starting price. 0.15$BNB powers Binance Chain as its native token.Binance Dex.BNB is also powering the Binance Smart Chain, which is an EVM-compatible network.BNB usecases gradually increasing...BNB burning mechanism leading to period reductions in its total supply. Continuing Increases its value.Today Price 611.9$Thanks for reading.Love you all.
Learning is always wonderful and gives you light in life to move forward. it is not easy to understand new concept without proper learning. it is very important to get right channel to learn further, Here, Binance arranges different academy courses under Binance Academy.
Starts with Beginner level takes you through below steps...