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.
Bitcoin is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers working on Bitcoin.
Satoshi's anonymity often raised unjustified concerns, many of which are linked to misunderstanding of the open-source nature of Bitcoin. The Bitcoin protocol and software are published openly and any developer around the world can review the code or make their own modified version of the Bitcoin software. Just like current developers, Satoshi's influence was limited to the changes he made being adopted by others and therefore he did not control Bitcoin. As such, the identity of Bitcoin's inventor is probably as relevant today as the identity of the person who invented paper.
Nobody owns the Bitcoin network much like no one owns the technology behind email. Bitcoin is controlled by all Bitcoin users around the world. While developers are improving the software, they can't force a change in the Bitcoin protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.
From a user perspective, Bitcoin is nothing more than a mobile app or computer program that provides a personal Bitcoin wallet and allows a user to send and receive bitcoins with them. This is how Bitcoin works for most users.
Behind the scenes, the Bitcoin network is sharing a public ledger called the "block chain". This ledger contains every transaction ever processed, allowing a user's computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses, allowing all users to have full control over sending bitcoins from their own Bitcoin addresses. In addition, anyone can process transactions using the computing power of specialized hardware and earn a reward in bitcoins for this service. This is often called "mining". To learn more about Bitcoin, you can consult the dedicated page and the original paper.
Yes. There are a growing number of businesses and individuals using Bitcoin. This includes brick-and-mortar businesses like restaurants, apartments, and law firms, as well as popular online services such as Namecheap, Overstock.com, and Reddit. While Bitcoin remains a relatively new phenomenon, it is growing fast. As of May 2018, the total value of all existing bitcoins exceeded 100 billion US dollars, with millions of dollars worth of bitcoins exchanged daily.
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Cryptocurrency created in Chile (2016) as a means of payment, focused on training users without technical knowledge.
Requires few resources to function. This project promote a future resource-based economy.
Mnemotechnic for Prosus Currency is xPR.
Total supply is 185 million, with 11 decimals. The Proof of work algorithm is Cryptonote-Antiasic.
In addition, the currency is part of important R&D projects, with a focus on innovation in the energy sector (Smart-Grid) and on the Internet of Things (IoT).
Beyond technology, Prosus Money has an enthusiastic community of collaborators who support with new ideas, forming work groups. Some of its main members have appeared in the mass-media.
Among the fundamentals of Bit World, is to open the doors of our exchange to the Chilean cryptocurrency projects that have not been able to be listed in the largest exchanges.
This last because many times the listing process happens to charge thousands, hundreds or millions of dollars to be listed with their coins or tokens.
The Bit World idea is the expansion of the Chilean cryptocurrency market in Latin America, for which there, is also the pair with a stable coin based on the USD, to give the possibility of invest by the different nationalities that make up this beautiful village called Latin America.
Being able to opt for a FIAT pair desired with has great worldwide liquidity, this one gives an initial kick like no other, so that the projects can also count on foreign investors, where an injection of dollars could take Chile to the international standard, recognizing the dedication and knowledge of our professionals.
CEO Bit World S.p.A.
Bit World Exchange will allow you to perform up to 750,000 transactions per second.
We are the fastest exchange in Latin America.